Global Sourcing Practice Exam

About Global Sourcing
Global Sourcing is a procurement strategy used by businesses wherein goods and services are sourced from the global market to obtain the highest levels of efficiency possible. The goal of Global Sourcing is to lower production costs while maintaining the exacting quality standards required for products and services. Another key consideration is to confirm that the value pricing, quality, and deliverability is sustainable for the long-term.

The location is beyond the political boundaries of the manufacturing company, i.e., the global market. It capitalizes on global efficiencies like cheap raw materials, low-cost skilled manpower and economic factors like low trade tariffs and tax breaks. If a shoe manufacturing company in the USA finds that the low wages of employees in a developing economy lead to cheap manufacturing and delivery, it might opt for a foreign manufacturer. Some examples of global sourcing are shoes manufactured in China and call centres in the Philippines.

Why is Global Sourcing important?
As international demand grows for a high volume of good quality products, competition rises too. To get profits, firms must keep abreast of the rapidly evolving technology and at the same time, improve quality, bring down costs and better customer service at all levels of the value chain.

Global Sourcing benefits
•    Low-cost Production
•    Higher Production Capacity
•    Superior Products

Who should take the Global Sourcing Exam?
•    Purchase and procurement professionals
•    Business owners
•    Anyone who wants to assess their Global Sourcing skills
•    Purchase and procurement managers and senior executives
•    Purchase and procurement consultants
•    Professionals working in outsourced companies responsible for Global Sourcing
•    Any professional with skills and knowledge on Global Sourcing
•    Anyone interested in Global Sourcing

Knowledge and Skills required for the Global Sourcing

Specific skills are needed to excel in career of global sourcing which includes analytical bent of mind and quick learning skills.

Global Sourcing Practice Exam Objectives

Global Sourcing exam focuses on assessing you in various aspects of global sourcing like vendor management, material management and stores management.

Global Sourcing Practice Exam Pre-requisite

There are no prerequisites for the Global Sourcing exam. Candidates who are well versed  in purchase or sourcing can easily clear the exam.

Global Sourcing Certification Course Outline

1. Procurement Management
1.1 What is Procurement Management
1.2 The Procurement Process
1.3 Make or Buy Analysis
1.4 Supplier Management
1.5 Contract Basics
1.6 Global Sourcing
1.7 E-procurement

2. Cost and Value Analysis System
2.1 Value Analysis
2.2 Tools for Value Analysis
2.3 Cost Analysis
2.4 Cost Analysis Techniques

3. Negotiation Skills
3.1 Basic Approaches for Negotiation
3.2 Strategy and Planning for Negotiation
3.3 Tactics of Effective Negotiation

4. Purchase Management System
4.1 What is Purchasing
4.2 Purchase Department
4.3 Methods of Purchasing
4.4 Purchasing Performance
4.5 JIT Purchasing

5. Vendor Management
5.1 System of Vendor Evaluation
5.2 Parameters for Evaluation of Vendors Performance
5.3 Social Audit
5.4 Tender and Negotiation Guidelines
5.5 Purchase Review

6. Materials Planning
6.1 Materials Planning Need
6.2 Factors Affecting Materials Planning
6.3 Tools of Materials Planning
6.4 Principles and Procedure for Materials Planning
6.5 MRP (Material Requirements Planning)
6.6 MRP Processing
6.7 Other Planning Techniques
6.8 Materials Budgeting
6.9 Materials Budgeting Concepts
6.10 Materials Budgeting and Accounting

7. Material Classification, Standardization and Codification
7.1 Material Classification
7.2 Value Analysis and Material Classification
7.3 Material Codification Concepts
7.4 Material Codification Systems
7.5 Material Standardization
7.6 Material Simplification
7.7 Levels of Standardization

8. Material Handling
8.1 Material Handling Basics
8.2 Material Handling Systems
8.3 Containerization
8.4 Waste Management - Surplus and Obsolete
8.5 Damage and Pilferage
8.6 Cost Analysis

9. Stores Management and Warehousing
9.1 Stores Functions and Objectives
9.2 Types of Stores
9.3 Stores Layout and Storage
9.4 Successful Store-Keeping Factors
9.5 Warehousing
9.6 Warehouse Management System (WMS)
9.7 Warehouse Operating Principles
9.8 Warehouse Strategy
9.9 Planning Warehouse Distribution
9.10 Warehouse Layout
9.11 Automatic Warehousing
9.12 Schemes of Automatic Warehousing
9.13 Stock Keeping and Accounting

10. Global Sourcing

Exam Format and Information
Certification name – Global Sourcing Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees - INR 1199