I hope that you have enjoyed the article, “Global Sourcing: What Is Changing?”
This short article was based on part of my keynote speech at the 1st annual NLPA Conference. And that speech was, in part, inspired by a few “current events” that have served to change the way that global sourcing is done. Those current events include:
1. The August 24, 2011 raid of the Gibson guitar factory that culminated in $350,000 in fines and payments over a procurement issue that ran afoul of the law, as the US government saw it.
2. The November 24, 2012 fire at a factory in Bangladesh that left 112 people dead and many placing part of the blame on Walmart.
3. The April 25, 2013 building collapse in Bangladesh that killed 1,127 factory workers reportedly working on garments for some of the world’s biggest retail brands.
Though the article is much more brief than my keynote speech, I hope that it gives some extremely direct pointers as to what you need to ensure that you change about your global sourcing strategy to ensure that your organization is protected from some of the various, newly-visible risks that other organizations have been exposed to.