Sourcing Process Summary

Prepare a paper of no less than 700 words, accompanied by a separate flowchart that describes or outlines the steps that occur in a typical sourcing process for a global manufacturing firm. Provide a brief evaluation of the steps as illustrated in your flowchart. Identify the challenges and opportunities for insourcing versus outsourcing of parts/components overseas and domestically. Discuss the advantages and disadvantages of global versus domestic sourcing.

Within your paper address the following:

• Translating corporate strategic objectives/goals into procurement objecitves/goals

• Identifying the opportunity to insource or outsource through the "make or buy" decision.

• Recording or capturing business unit requirements for supplies or services

• Conducting market research to identify potential suppliers

• Protecting intellectual property, proprietary information and trade secrets during the entire procurement process

• Setting manufacturing, quality, and social responsibility expectations for the suppliers

• Execution of outsourcing and assessing supplier performance

• Describe reciprocity with supplier(s) and point out when it is illegal