As many U.S. manufacturers (think Mattel) have learned the hard way, it's important -- but incredibly difficult -- to keep close tabs on offshore suppliers and contract manufacturers. That need for information has led a number of global purchasing companies to begin strategically positioning themselves in locations around the world to help facilitate the process. One such example is YourBuyer Worldwide, which recently opened an office in Lahore, Pakistan, allowing the expansion of its global procurement offerings to countries in central Asia, including Turkey, India, Bangladesh and Sri Lanka.
As YourBuyer Worldwide explains, this area of the world is responsible for such key exports as cement, tile, marble, textiles, cotton fiber, leather goods, carpets and electrical appliances. By leveraging the economic viability and quality of the region's products, the company can provide more competitive rates and quality products to their clients throughout the world.
"Global purchasing requires vigilant and rigorous monitoring of the supply chain to truly provide the cost savings that makes it so attractive," says Mark McNally, chairman and CEO of YourBuyer Worldwide. "Local support and knowledge of the market are key to procurement success."