In the arena of international trade, one of the most important aspects of import & export business is Global Sourcing. In the business to business scenario, “Global Sourcing” is the most important activity which has changed the economies of the world and has also boosted trade and co-operation in a big way. Nevertheless, global sourcing is also transforming the work culture of the world with China being in the lead.

Working on the principles of “open market dynamics”, export and import of products is facilitated by global sourcing. It also gives a chance to the numerous SME’s in different countries, to compete with the bigger companies. In the b2b scenario, E - Commerce plays a major role in increasing the profits of many business houses. Traders are fighting a stiff battle to claim a share of the profits due to global sourcing.

Global Sourcing and E – Commerce

“Global Sourcing” is a well known strategy that is used to make sure that businesses run smoothly and are able to access new markets in a manner that is cost effective. In this scenario, E – Commerce has made a huge transformation. It has several benefits such as removing of geographical barriers, difference in costs, barriers in time zones and so on. This has lead to a big push in the development of technology, infrastructure and many other important sectors around the world. As we see, export and import is being driven by e – commerce and it is also fuelling the growth of several developing and developed nation’s economies. Business strategies have become easy to implement and corporate houses have a huge variety of options to choose from.

E – Commerce has made it easier to run a business and has also facilitated in lowering the costs and procuring of raw materials from places of specialization. Furthermore, negotiations in business has become a lot easier and taking decisions, a lot quicker, all because of e – commerce. Driving the export and import business in the scenario of global sourcing has opened up several new frontiers leading to much higher growth. The supply chain processes can be done much quicker and with more efficiency due to e – commerce, in the scenario of global sourcing.

China is one of the major players in the scenario of global sourcing and it has been able to reap numerous benefits in this e – commerce enabled age. With the advent and increase in popularity of the internet, trade and commerce has received a tremendous boost. Business opportunities from all around the world were received by China due to efficient use of e – commerce. The traders in China have made some quick money and are continuing to make more money, all due to the efficient use of e – commerce.

E – Commerce has also enabled small and medium scale enterprises to enter the arena of international trade and commerce. These enterprises can now compete with their bigger rivals. The greatest benefit of E – Commerce is to the consumers since they are able to make purchases from home. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.