Choose from below what determines the Sourcing of products or Services?LocationAffordability
Question
Choose from below what determines the Sourcing of products or Services?LocationAffordability
Solution
Both location and affordability can determine the sourcing of products or services.
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Location: The geographical location of the supplier can greatly influence sourcing decisions. For example, if a supplier is located far away, the transportation costs may be high, which could make the overall cost of the product or service more expensive. Additionally, the location can also affect the delivery time. If a supplier is located in a different time zone or in a region that is difficult to reach, it may take longer for the products or services to be delivered.
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Affordability: The cost of the product or service is another important factor in sourcing decisions. If a product or service is too expensive, it may not be feasible to source it, especially if there are cheaper alternatives available. Therefore, companies often compare prices from different suppliers to ensure they are getting the best deal.
So, both location and affordability are important factors that determine the sourcing of products or services.
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There are positives and negatives for a business in saucing suppliers local, nationally or from overseas. Sometimes there is no choice while at other times there is much choice. For example, if you sell new cars you have no choice but to get your supplies from overseas as there are no car manufacturers in Australia. On the other hand, if you were to source IT support services for your new business there would be a range of companies locally, nationally and internationally that could provide personal or on-line support. So how does a business make a decision on who to get their supplies from? What are some considerations they will have to think about? Complete the table below which asks you to think about local and overseas sourcing and what might be an advantage and a disadvantage for each of the considerations.
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