The world is becoming a global village is the most common statement we keep hearing in our daily life to highlight the importance of movement of goods and services across the globe. It started with online knowledge services, outsourcing of services offline of all non-core activities and finally of even physical goods. China became the manufacturing hub for hard currencies and helped even other cheap labour Countries to have a role in manufactured goods. Disruptive technologies gave rise to new business models and helped forward looking companies to create the global procurement division. Here again the initial focus was on raw materials and slowly and steadily now it has come down to even promotional corporate gifts.
Most of the MNCs have created the global procurement division and the role is very clear to find out the best rates at each operational location and to streamline the processes so as to source the various goods from the various geographies at the most economical manner.