Tag: international

World Trade Month Wrap-Up

World Trade Month is observed each year in May.  The objective of this recognition is to create awareness, identify trends and drive market opportunities. World Integrated Trade Solutions offers extensive data related to world trade.  The same site offers interesting visualization options such as the word cloud referenced below. In a 2015 ranking of the top 20 export countries worldwide via Statista, China ranked first in exports with an export value of about 2.28 trillion US dollars.

Negotiating in the global marketplace

An article recently posted to Inc. discusses charts by Richard Lewis that “reveal how to negotiate with people from around the world.” As a third-party quality provider, this is a key value for us because we absolutely agree that cultural considerations are key in negotiation and general business activities and it can be a significant barrier in sourcing activities in particular. Having local knowledge and cultural expertise is a competitive edge for us, no doubt. Lewis’ book, When Cultures Collide, further discusses the topic, and we’ll be checking it out.  The Inc. article quoted and paraphrased the following from this …

Best Practices For Minimizing Global Supplier Risk

We were just reading through an article posted by Supply Chain Management Review that discusses Four Best Practices for Minimizing Global Supplier Risk.  As a third-party quality engineering and consulting firm, we get questions about this often and have written a handful of articles related to the topic. We like the SCMR’s four best practices, but did want to add some additional comments. 1) Make routine site visits. It can be quite costly to manage routine site visits, whether your supplier is domestic or abroad.  All of the benefits discussed in the article can be achieved by partnering with a …