What Factors Should Be Considered in Sourcing Decisions?
Several factors must be evaluated when making sourcing decisions:
Cost: Total cost of ownership including price, shipping, tariffs, and other hidden costs. Quality: Consistency and reliability of the product or service quality. Delivery: Supplier's ability to meet delivery schedules and lead times. Supplier Reliability: Supplier's financial stability and track record. Compliance: Adherence to regulatory requirements and ethical standards.