Global Sourcing and Procurement

What recent changes have caused supply chain management to gain importance? With so much productive capacity and room for expansion in the United States, why would a company based in the United States choose to purchase items from foreign firm? Discuss the pros and cons.Describe the differences between functional and innovative products.What are characteristics of efficient, responsive, risk-hedging and agile supply chains? Can a supply chain be both efficient and responsive? Risk-hedging and agile? Why, or why not?As a supplier, which factors would you consider about a buyer (your potential customer) to be important in setting up a long-term relationship?Describe how outsourcing works. Why would a firm want to outsource?

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