Global Sourcing & International Trade Compliance: Strategies and Frameworks for Effective Management

Learning Objectives:

• Develop a comprehensive understanding of global sourcing strategies and international trade compliance.

• Learn to manage international suppliers effectively and build long-term strategic partnerships.

• Navigate through international trade laws, tariffs, and regulations with ease and confidence.

• Understand the risks associated with global sourcing and develop mitigation strategies.

Course Content:

1. Introduction to Global Sourcing

• Overview of global sourcing and its strategic importance.

• Identifying opportunities and challenges in global sourcing.

• Developing global sourcing strategies aligned with organizational goals.

2. Managing International Suppliers

• Evaluation and selection of international suppliers.

• Building and maintaining relationships with overseas partners.

• Strategies for effective communication and conflict resolution with international suppliers.

3. International Trade Laws & Regulations

• Overview of international trade laws affecting global sourcing.

• Understanding compliance requirements and legal frameworks.

• Managing legal aspects of international contracts and agreements.

4. Tariffs, Duties, and Taxes

• Understanding the structure and application of tariffs, duties, and taxes in international trade.

• Developing strategies to minimize the impact of tariffs and duties on procurement costs.

• Case Studies: Impact of tariffs on global sourcing decisions and strategies.

5. Risk Management in Global Sourcing

• Identifying and assessing risks in international procurement.

• Developing and implementing risk mitigation strategies.

• Workshop: Risk analysis and mitigation in global sourcing scenarios.

6. International Trade Compliance

• Establishing and maintaining international trade compliance programs.

• Monitoring and ensuring compliance with international trade regulations.

• Utilizing technology for compliance management and monitoring.

7. Cultural Competence in International Relations

• Understanding cultural differences and their impact on international business relationships.

• Developing cultural competence to facilitate effective communication and collaboration.

• Interactive Session: Building cultural competence through real-world scenarios.

8. Sustainability in Global Sourcing

• Integrating sustainability and ethical considerations in global sourcing strategies.

• Evaluating international suppliers for sustainability and corporate social responsibility.

• Promoting sustainable practices in international supply chains.

9. Trade Agreements and Economic Blocs

• Understanding the role and implications of international trade agreements.

• Navigating through economic blocs and their impact on global sourcing.

• Analyzing the influence of trade agreements on international sourcing strategies.

Assessment and Evaluation:

• Participation in interactive sessions, workshops, and discussions.

• Development and presentation of a global sourcing strategy, focusing on compliance and risk management.

• Final assessment on international trade compliance and global sourcing management.

• Continuous assessment through case study analyses, quizzes, and assignments.

Learning Outcomes:

Upon completion of this course, participants will be able to:

• Develop and implement effective global sourcing strategies, considering legal and compliance aspects.

• Manage international suppliers proficiently and navigate international trade laws and regulations with confidence.

• Assess and mitigate risks associated with global sourcing and international trade.

• Promote sustainability and ethical considerations in international sourcing practices.

Recommended for:

• Procurement and supply chain professionals engaged in or planning to engage in global sourcing.

• Legal and compliance professionals dealing with international trade and sourcing.

• Managers and executives looking to enhance their knowledge and skills in global sourcing and international trade compliance.

Prerequisites:

• A basic understanding of sourcing and procurement processes.

• An interest in learning about international trade laws, regulations, and global sourcing strategies.