Local sourcing versus overseas

There are pros and cons to sourcing goods locally versus sourcing from overseas. Some of the key considerations include cost, quality, delivery times, and the impact on the local economy.

 

Advantages of local sourcing:

• Reduced transportation costs and lead times

• Support for the local economy and create jobs

• More sustainable due to reduced transportation-related emissions

 

Advantages of overseas sourcing:

• Sometimes less expensive due to lower labour and production costs in certain countries

• Provides access to a wider range of products and suppliers

• Allows a business to take advantage of global supply chains and tap into specialized expertise

 

Ultimately, the decision to source locally or overseas will depend on a variety of factors, including the nature of the goods or services required, the needs and preferences of the business, and the availability and cost of local suppliers.