Articles
Develop A Successful Global Sourcing And Private Label Initiative
July 16, 2010
Guest Column: Develop A Successful Global Sourcing And Private Label Initiative
Take a step-based approach to overcoming global sourcing pitfalls and achieving private label success
By Alan Gold, Chief Marketing Officer, TradeStone Software
Global sourcing has changed the dynamics of raw materials acquisition and finished goods manufacturing. Today, more than 55% of all raw materials for American manufacturing are sourced outside the U.S. And for those corporations in apparel and footwear, consumer packaged goods, and high tech electronics, the numbers are even higher.
So how do you bring the two together? What does it take to master global sourcing techniques? What types of technology are available for world-wide buying organizations? How should your organization incorporate global sourcing into creative product development, margin enhancement, private label development, and even branding? This two-part piece will discuss a multi-step process that will enable you to embark on a global sourcing and private label development initiative. We'll touch on best practice techniques and lessons learned along the way.
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