Overview
Global sourcing and supplier risk management present several challenges for businesses operating in international markets. Global supply chains are often complex and involve multiple tiers of suppliers, subcontractors, and intermediaries across diverse geographical locations. Managing relationships, ensuring quality standards, and mitigating risks across a complex network of suppliers can be challenging due to limited visibility and coordination. By implementing robust supplier risk management practices and leveraging advanced tools and techniques, businesses can enhance their resilience to global supply chain risks and optimize their sourcing strategies for long-term success.
Aim of research focus area
This research focus area aims to identify and understand the unique challenges and barriers faced by businesses engaging in global sourcing activities within the African context. These challenges may include political instability, inadequate infrastructure, regulatory complexities, and limited access to financing and insurance. The research seeks to develop practical solutions and strategies to address the identified challenges and mitigate risks associated with global sourcing in Africa.
Key aspects of this research focus area include:
- Explore methodologies for identifying and assessing various types of risks associated with suppliers.
- Investigate effective strategies and mechanisms for mitigating supplier-related risks.
- Examine approaches to enhance the resilience of supply chains against disruptions originating from suppliers.
- Investigate strategies for integrating sustainability considerations into global sourcing decisions.
- Analyze best practices for developing and maintaining strategic relationships with suppliers to foster collaboration, innovation, and risk-sharing while ensuring alignment with organizational objectives and values.
- Examine the legal and regulatory frameworks governing global sourcing activities.
- Explore the challenges and opportunities associated with sourcing from suppliers in diverse cultural contexts.
- Develop metrics and performance indicators to measure the effectiveness of global sourcing and supplier risk management initiatives.