Topic: Global Sourcing 1

GLOBAL SOURCING (from Wikipedia): Global sourcing is a procurement strategy aimed at exploiting global efficiencies in production. In plain English, it refers to how some companies search the whole world for the cheapest possible price for a product.
This exercise will help you practice the terminology associated with this topic.

Choose the correct response for each of the sentences.

1. Global sourcing helps companies _________________________.
  saving money
  (to) save money
  to retain money

2. The process of __________________________ is similar to global sourcing, but it refers to finding the cheapest services, not products.
  out-serving
  sourcing out
  outsourcing

3. Eastern Europe is not our primary market. It's a _________________________ market for our company.
  second-level
  second-tier
  second

4. Right now, we're in the process of identifying several _________________________ ( = important) global suppliers.
  key
  great
  keyed

5. We're not happy with our current supplier. We have to pursue _________________________ ( = other) supplier sources.
  alternate
  altered
  allotted

6. IPO _________________________ "international procurement organization".
  stands
  signifies
  stands for

7. Global sourcing has helped our company to reduce costs _________________________.
  by 10%
  10%
  in 10%

8. Foreign suppliers are often referred to as "_________________________" suppliers.
  offshore
  offline
  off-limits

9. When considering global sourcing options, it's important to ensure that price savings don't come _________________________ quality.
  instead of
  at the cost of
  in light of

10. More and more companies are using global sourcing. = Global sourcing is _________________________.
  on the up
  going up
  on the rise

CHECK ANSWERS

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