International Purchasing Outline
1st Day: Global Tool Kit -- 2nd Day: Global Sourcing
UNDERSTANDING and WORKING with CULTURAL DIFFERENCESGlobal Sourcing, 2nd Day Outline:LEGAL ISSUES and TECHNIQUES
- The eight most significant ways by which business cultures differ from country to country.
- How these differences affect attitudes toward time, decision making, and customers.
- Where the major trading countries fit on the culrural scales.
- Identifying your personal style and that of your organization.
- Adjusting your style for effective relationship building with suppliers.
COMMUNICATION
- How legal systems vary between countries.
- Code and case law differences.
- Modifying your legal expectations.
- Managing the international contracting process.
FOREIGN EXCHANGE MANAGEMENT
- Three fundamental ways communication patterns differ between countries.
- Common areas of international misunderstanding.
- How to modify communication style when dealing internationally.
- How to choose a pricing currency.
- How to analyze impact of multiple exchange rate changes on supplier costs.
- Basics of financial tools for risk management: forward contracts and options.
- Effect of volume uncertainty on hedge effectiveness.
- Non-financial techniques: Risk sharing, renegotiation clauses, etc.
FUNDAMENTALS of INTERNATIONAL LOGISTICSCoffee, tea, Danish, luncheons, seminar referenc manual, including a glossary, certificate of completion, and landed cost software will be provided at the seminar. Seminar materials are only available to those in attendance. Each day begins at 8:00 a.m. and ends at 5:00 p.m.PAYING THE SUPPLIER
- International product flow and role of support organizations.
- Typical transit times and costs, ocean and air.
- Basics of determination of duty rates.
- Utilizing GSP and other trade treaties to reduce duties.
- Customs clearance procedures and problems.
- Selecting an internationally recognized term of sale (INCOTERM).
CHANNEL MANAGEMENT
- Alternatives to Letters of Credit.
LOCATING, SELECTING AND MANAGING SUPPLIERS
- Selection of a channel (Direct, local reps, or assistance from IPOs).
- Typical costs, strengths, and weaknesses of each.
- How to get the channel you want and need.
- How to find the few most likely countries that meet your needs and the best suppliers in those countries.
- How to integrate country search with procurement strategies.
- How to modify your supplier evaluation techniques when dealing internationally.
- How to calculate "landed cost" and estimate risks.
- Differences between domestic and international supplier management.
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