The importance of creating competitive advantage, including reduced costs, improved quality, reduced time to market, and product and service differentiation through global sourcing and low-cost country sourcing

Evaluate opportunities for global and low cost country sourcing to contribute to the creation of competitive advantage for the organisation

How to identify value added activities and the value chain in global sourcing by:

• Reducing costs
• Improved quality
• More reliable delivery
• Innovation
• Sustainability

Analyse potential global supply chains to ensure that external organisations contribute value

How to assess supply chain risks in global sourcing, such as:

• Country risk
• STEEPLED factors
• Export and import controls and sanctions
• Bribery and corruption
• Fraud
• Counterfeiting
• Disruptive technologies
• Cyber attack

Monitor potential risks across global sources in order to develop and implement risk assessment and risk mitigation strategies for global sourcing, taking actions to exploit market opportunities

Positioning in local, regional and global supply chains

Create and implement plans for the use of ethical procurement

Sourcing decisions in supply chains and the sourcing of rare earth commodities and other bottleneck items

Develop appropriate sourcing strategies for categories of procurements including the mitigation of potential supply chain risks

The co-ordination of commitments with different suppliers to balance supply chain risks across the global supply chain

Establish plans that co-ordinate and share allocations of expenditures across different suppliers when relevant

The use of ethical and sustainable practices in global sourcing, including fair pricing and payment terms, and recognising relevant labour standards in global sourcing

Create and implement plans for the use of sustainable procurement

Legal and regulatory requirements  for successful International trading relationships

Advise colleagues and internal stakeholders of changes in international trading, legal issues and regulations

Standards that apply to human rights, ethical and sustainable sourcing such as:

• the United Nations (UN) Trafficking Protocol
• the International Labour Organisation (ILO)
• the Ethical Trading Initiative (ETI)
• the Social Accountability International Standard SA8000
• ISO 20400 Sustainable Procurement
• ISO 26000 Social Responsibility

Monitor compliance with human rights, ethical and sustainable practices and standards taking appropriate actions in the event of any breaches