kk10

Question 1

Global sourcing of inputs

Answer 1

Businesses purchase inputs from suppliers in other countries.

Question 2

reasons for global sourcing

Answer 2

cost of raw materials are cheaper compared to if it was sourced locally

Increase the speed of leveraging a worldwide supply base

Question 3

Overseas manufacturing

Answer 3

Where a business produces goods in a foreign country.

Question 4

Global outsourcing

Answer 4

Involves contracting out business processes or services to third-party providers in foreign countries

Question 5

Overseas manufacturing benefits

Answer 5

Reduced costs (via lower labour costs)
Get their products to the market quicker (due to Australia’s location)

Question 6

Global sourcing of inputs considerations

Answer 6

exchange rates, communication barriers, ethical considerations, political issues, delivery times and quantity

Question 7

Overseas manufacturing challenges

Answer 7

cultural differences, regulatory compliance, potential quality control, potential longer lead time

Question 8

Overseas manufacturing and…

Answer 8

local labour laws and ensure they are ethical in the treatment of foreign workers