Sourcing & Procurement in Supply Chain

While most people think that Procurement is limited to Offers and Comparision sheet, the shift towards strategic sourcing and its importance in large scale projects has challenged this mindset. The Increasing complexity of Global trades and Immature decision of world leaders has changed the importance of this tiny looking department from a corner in the office to the front desk.  Having worked with both The Domestic vs International market, I would say that Challenges in Sourcing in Domestic market is no less than International Market. Major Challenges are:  Working Capital: Both Client and the supplier are in deep pressure to increase their working capital days. Simple reason everybody wants free flow cash to improve their business and meet the needs of their business Operation. It is very hard to come on a common ground as the quest to achieve more in never ending for both the parties.  Risk and Reward: In domestic Contracts the hardcoded Contract clauses are rarely taken into considerations because of which one of the participating party is exploited leading to breach of trust and hence affect material availability. Mind it that it is not beneficial for any of the party as it may be Quick wins but in the longer run a “degenerative loss”. There is no reward to other party in case of