Barbara's Baubles produces one-of-a-kind jewelry using semi-precious gems. Although the owner sells her jewelry exclusively at a small shop in Albuquerque, she purchases the gems wherever they are the cheapest. This is an example of ________.

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Multiple Choice

Barbara's Baubles produces one-of-a-kind jewelry using semi-precious gems. Although the owner sells her jewelry exclusively at a small shop in Albuquerque, she purchases the gems wherever they are the cheapest. This is an example of ________.

Global sourcing is about obtaining inputs from suppliers around the world to take advantage of cost differences and efficiencies. Barbara’s practice of buying gems wherever they’re cheapest shows she’s not restricting purchases to a local supplier or region; she’s sourcing from a broad market to minimize input costs for her one‑of‑a‑kind jewelry. That focus on obtaining materials from external sources across markets fits global sourcing. Local procurement would mean buying only nearby; licensing involves rights to use someone’s brand or product; insourcing means producing in-house rather than buying externally.

Global sourcing is about obtaining inputs from suppliers around the world to take advantage of cost differences and efficiencies. Barbara’s practice of buying gems wherever they’re cheapest shows she’s not restricting purchases to a local supplier or region; she’s sourcing from a broad market to minimize input costs for her one‑of‑a‑kind jewelry. That focus on obtaining materials from external sources across markets fits global sourcing. Local procurement would mean buying only nearby; licensing involves rights to use someone’s brand or product; insourcing means producing in-house rather than buying externally.

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