by Sanjay Sharma | President, GSC
Fellow Global Sourcing Practitioners,
The year 2012 is ending in few days, 2012 has been an interesting and eventful year, GSC successfully conducted the 3S Awards for the year 2012 and as President of GSC, and I extend congratulation’s to Angeline Judex (Director of 3S Awards) and her team. The year 2012 saw re-election of Democrat President Obama for the 2nd term, which will have its impact on global economy. End of 2012 is politically and economically far more stable than the beginning of 2012.
‘Global Sourcing’ in 2013 will bill be more complex than what it was in 2012 and I have many reasons for that:
- The political stability in most parts of the world will lead to sustainable investment in infrastructure and development projects worldwide and as the demand for both material and services will grow, supply will be under pressures to satisfy the demand; as a result globalized sourcing of product and services will increase.
- The economy of the world is stable, though most of us continue to read in leading publications that recession is not yet over, in most parts of the world the economy is stable, it is not further slipping away, take for example some of the European countries were on the verge of bankruptcy, today they are not. As preventive measures have been taken and they have started to show their positive effects, the businesses will look forward to invest and grow. Some of them will source outside of their traditional zone and increased amount of resources will be invested in Global Sourcing.
Given that we are looking for better and happening 2013, what should organisations do to be more effective, competitive and successful in their approach? As in most cases when going is tough, the tough gets going; what do toughs do? They do their basics right. The question everyone will ask is what are the basics? Here is a list of the basics of successful ‘Global Sourcing:
Ability to successfully communicate: Working with Global Teams can prove to be very challenging; I have seen many times teams are not able to communicate effectively, as a result many potentially viable projects fail. As a leader, one should learn what the modes of communication acceptable to their counterparts are and how to get effective and reliable feedback. Understand the challenges of the language and cultural differences.
Ability to manage Logistical challenges: Many time Global Sourcing efforts become draining and negative due to logistical challenges. Careful planning and cost calculations for associated risks will help manage logistical challenges.
Ability to learn counterpart’s business practices: As a Global Sourcing leader, you should develop right skills to understand, interpret and practice your international counterpart’s contracting practices, trade laws, currency management, cultural business practices and political fluctuations for long term objectives of the business.
Ability to fine tune support tools: While many use software tools like MS Project, they should fine tune their calendar’s incorporating the counterpart’s working times, including their nonworking and holiday schedules.
Once again to be successful in Global Sourcing following are the basics
- Ability to successfully communicate
- Ability to manage Logistical challenges
- Ability to learn counterpart’s business practices
- Ability to fine tune support tools
We at GSC wish our readers successful Global Sourcing in 2013.
Sanjay Sharma has over twenty years of Global experience in Information Technology, Supply Chain and Project Management. Sanjay has managed backend Sourcing and Procurement operations for large organizations in Europe,
Far East & Australia. He led procurement operations for a large industrial goods manufacturing organization. Sanjay
has articles published in business magazines and publications on the subjects of procurement, supply chain and
project management. Sanjay speaks at Conferences, Seminars and Symposiums. He works as consultant for Project
Management and Global Sourcing. In addition he teaches Project Management subjects. His email contact is