Global Procurement

A practice largely in use by the early 1990’s, global procurement refers to the selling of goods for the most beneficial Total Cost of Ownership (TCO) after weighing all factors including location, shipment, proportion, disbursement, etc. More specifically, global procurement pertains to this specific method of acquisition of goods overseas. For example, the company Global Procurement LLC, based out of Florida, deals directly with Africa by ensuring that they receive goods and shipments at the most affordable and advantageous prices and times, and in the best possible quantities. Procurement can generally be divided into two categories: direct production affiliated procurement and indirect non-production affiliated procurement. Direct procurement is the emphasis in supply chain management and more commonly includes the finished product of specific goods to be shipped worldwide, while indirect procurement deals more closely with vague items that vary between all price ranges.

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