QUESTION 1

When buying abroad, in view of distance and time, quality problems need to be minimized or, more appropriately, eliminated. This is not helped by the fact that specifications may have to be translated into the language of the seller, mode of measurement could vary and there are in excess of one hundred standards-setting bodies in the world.

Explain how quality can be managed in the short term in 5 ways.

QUESTION 2

Why is it essential for an international buyer to have an understanding of culture when negotiating abroad?

QUESTION 3

a) Describe incoterms.

b) Write down short notes on -
i) C. I. F
ii) F. O. B

c) Describe meaning of a Letter of Credit as an instrument of payment in global sourcing.

QUESTION 4

Sourcing from overseas necessitates several considerations. Write down briefly on TEN such considerations.