Which term describes purchasing goods and services from international suppliers?

Which term describes purchasing goods and services from international suppliers?

• A. Global sourcing
• B. Domestic purchasing
• C. Local procurement
• D. In-house production

Answer: (A)

Global sourcing is the practice of purchasing goods and services from suppliers outside your domestic market. It’s used to access lower costs, specialized capabilities, or diversify supply by sourcing across borders. This differs from buying domestically (within your own country), buying from local suppliers (within a nearby region), or producing in-house (making goods internally). Since the focus is on obtaining goods and services from international suppliers, global sourcing best fits.

Global sourcing is the practice of purchasing goods and services from suppliers outside your domestic market. It’s used to access lower costs, specialized capabilities, or diversify supply by sourcing across borders. This differs from buying domestically (within your own country), buying from local suppliers (within a nearby region), or producing in-house (making goods internally). Since the focus is on obtaining goods and services from international suppliers, global sourcing best fits.