OVERVIEWS OF STRATEGIC PROCUREMENT

GROUP ASSIGNMENT

Group Members:
- Rafviella Supono
- Tran Nguyen Khanh Chi
- Tran Thanh Bao Tran

Lecture: Keng Seng Choong

Report Title: Group Assignment

Word Count: 3600 (Executive summary, table of content and

reference list are excluded)

TRIMESTER 2A
CURTIN SINGAPORE

1
Table of Contents

EXECUTIVE SUMMARY...........................................................................................................3

INTRODUCTION......................................................................................................................... 4

THREE CURRENT ISSUES IN GLOBAL SOURCING..........................................................5

1. CURRENCY RATE FLUCTUATION...................................................................................5

2.  PHYSICAL RISKS OF INTERNATIONAL LOGISTICS:..................................................................6
3. INTELLECTUAL PROPERTY.........................................................................................................7
A.    RELATIONSHIP AND HIGH DEVELOPMENT COST......................................................................8
B.    POTENTIAL VULNERABILITIES..................................................................................................8
C.    REPUTATION..............................................................................................................................9

RECOMMENDATIONS............................................................................................................ 10

1.     CURRENCY FLUCTUATION...................................................................................................10
A. SET HEDGING STRATEGY...............................................................................................10
B.    FIND AN EXPERT......................................................................................................................11
C.     SET AN AGREEMENT...............................................................................................................11
2. PHYSICAL RISKS OF INTERNATIONAL LOGISTICS...................................................................11
A. SUPPLY CHAIN RISK MANAGEMENT (SCRM)...........................................................................11
B. FORM SUPPLY ALLIANCES..........................................................................................................12
3. INFRINGEMENT OF INTELLECTUAL PROPERTY......................................................................13
A.    SELECT A SUITABLE STRATEGY..............................................................................................13
B.    BUILDING AND ENHANCING RELATIONSHIP...........................................................................13
C.    CLEARLY DEFINE TERMS ON THE CONTRACT AND CREATE A TRADEMARK............................14

CONCLUSION............................................................................................................................14

REFERENCE LIST.....................................................................................................................15

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Executive Summary
The predominant aim of this paper is to analyze the three main risk of global sourcing. With the
development of globalization, global sourcing is dramatically growing due to the high
international demand for better products and services. This also means the competition among
company is more intense in term of better pricing, wide range of products and fast delivery lead
time as well (Niemann, Kotzé and Mannya, 2018). In spite of the fact that global sourcing has
brought many various benefits, it also exposes firms to many risks such as language barriers,
compliance issue as well as intellectual property (Supply Chain Quarterly Staff, 2015). Along
this paper, we will specifically discuss three main risks of global sourcing which are exchange
rate fluctuation, logistics issue and intellectual property. In addition, we also provide a set of
recommendation to improve the challenges. The limitation of this paper is the insufficient
information about the global sourcing and the word limits cannot exceed 3000 words.

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Introduction
As the globalization continuously develops and the Free Trade Agreement (FTA) appears, more
and more businesses tend to merchandise globally to enhance their international operations and
discover an alternative way to compete in the market in term of price and quality (Gheibi, Kazaz
and Wester, 2016). In the past, firms outsource domestically. However, thanks to the
advancement of technology and infrastructure, businesses are now able to seek for the suppliers
internationally (Baldia, 2007).  Global sourcing is the process of seeking for the international
suppliers that can bring the competitive price and quality. Besides, a well-structured global
sourcing strategy can optimize the efficiency of the supply chain process (Trent and Monczka,
2005). Currently, there are three issues when sourcing globally which are uncertain exchange
rate, intellectual property and logistics issue. This report will examine the three issues in details
along with a set of recommendation.

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Three Current Issues in Global Sourcing
1. Currency Rate Fluctuation
To begin with, one of the most important issues, when the businesses source globally, is the
exchange rate fluctuation. The uncertain exchange rate can be defined as the unexpected changes
of currency in the market which leads to the change in the value of the products and services
(Papaioannou, 2006). The currency fluctuation resulted in the real operating exposure which
causes some significant threats to many firms such as changing their competitive environment
through the changes in price and cash flow (Papaioannou, 2006).

The cost of acquisition can be inexpensive or expensive depends on the exchange rate in the
market (Gheibi, Kazaz and Wester, 2016). Presently, the decision for global sourcing is harder
for procurement leaders since the uncertain exchange rate impact on the imported cost of the
commodity over the duration of the contract (Carter and Vickery, 1989). Every business wishes
the exchange rate will always be stable when they are joining global sourcing. In fact, the
volatile exchange rate makes business more complex and complicated which leads to some
potential risks in reality (Cook, 2006 cited in Jiang and Tian, 2009). Even a small change in the
currency rate can have an effect on the businesses that merchandise internationally. To
demonstrate, most of the time, the corporations spend large amount of money roughly eight
million of dollar for purchasing overseas materials, equipment or services; therefore, a 0.5%
deviation of the exchange rate could have an effect on the efficiency of the sourcing strategies
and global supply chain operations (Jiang and Tian, 2009). It is can be predicted that if the
deviation of currency rate is 4.0%, it will lead to the catastrophic outcomes for the company
(Cook, 2006 cited in Jiang and Tian, 2009).

The fluctuation of currency rate affects not only the operations and strategies but also the profit
margin. In fact, the changes in currency have resulted in the global competition among
companies (Lessard and Lightstone, 1986). When the exchange rate increases, the cost of goods
and services will be raised also. Therefore, the firms have to spend more money on purchasing
which will influence their profitability (Borges, 2015). Since the currency is fluctuating, the
buyer may lose the capability to buy currency low at rate and also the currency was possessed by
firms will be diminished (Borges, 2015). The price paid can be directly affected by the volatile
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exchange currency. For instance, the American buyers started a one-year contract of 20.248
million yen with Japanese supplier for the monthly payment. When they first started, the
currency was 202.48 yen per US dollar (Carter and Vickery, 1989). After estimating, each month
American buyer would pay the supplier approximately $100.000 US. The total payment of
American buyer can be higher or lower than the expected $1.2 million which depends on the
fluctuation of yen regarding the USD and the duration of the agreement (Carter and Vickery,
1989).

2.  Physical risks of International Logistics

First of all, the term “International Logistics” is used for describing the process of arranging and
operating products’ flow in and out of global organisations (Norman and Jansson, as cited in
Davies, 1987). Few crucial international risks could be mentioned, such as financial risks - which
related to cash flow, expenses, and investments between organisations and suppliers; relational
risks - which referred to maintain relationship with customers (Cavinato, 2004). However, the
most decisive one is physical risks (Cavinato, 2004).

Organisations use international logistics, normally it will cover broader aspects than domestic
ones. Therefore, when business purchase internationally, there would be definite risks occurred
during the transaction. The physical risks of international logistics can be listed with
transportation, warehouse, storage, the real-time product flow, etc. (Semeijin, 1995). Despite the
fact that these factors are not as decisive as financial issues or contract concerns, business might
suffer major drawbacks from the causal factors. One example shows that besides the original
costs, business occasionally require to handle additional costs. The additional costs usually begin
with the objective reasons, it can be mentioned as natural disasters, the vulnerability of products,
the uncertainty about products’ arrival time, etc. (Christopher and Peck, as cited in Nunes, 2016).
Moreover, with the trend of JIT (Just-in-time) concept, organisations started to expose with the
two main risks of this cost reduction concept. There are operational disruptions, which is man-
made peril, and external disruptions, which mainly unexpected reasons (Stefanovic et al., as cited
in Jensen, 2017). Because of either operational or disruptions, both suppliers and buyers will be
blamed for the lack of confirmation, which would lead to a less trustworthy and uncertainty
contract. The disadvantages are not only applied for the logistics disturbance, but also directly

6
involves in the entire business as a whole.

Managing supply chain in an international scale is tougher than managing domestic market
(Prater et al., as cited in Kwak et al., 2018). Organisation are not only having to deal with the
physical risks, but also other issues like cultural differences, regulation, economics,
infrastructure concerns, etc. (Kwak et al., 2018). Firstly, international suppliers are contrasted
with domestic suppliers, pros and cons will arise at the same time. Domestic suppliers are stable,
reliable, whereas international suppliers are diverse in their products and technology;
communication with domestic suppliers can be done smoothly since all have the similar
demographic, whereas international supplier can offer a cheaper price, higher quality, however,
consider the different in culture, it is tougher for business to negotiate (Kersten et al., as cited in
Potter, 2009). Furthermore, language barrier can also include in the cultural risks, which
occasionally would lead to misunderstanding. Secondly, the opacity of regulation in some
countries. There are some restricted policies that would affect the supply chain. For example, it
can be seen that outsourcing pharmaceuticals or medical equipment might suffer from strict
supervise procedures, which would be time consuming and the buyers cannot receive the
products at the noticed arrival time (Vicens, 2012). Furthermore, unknown infrastructure might
affect the organisation’s distribution and production process.

3. Intellectual Property
Conducting global sourcing may impose several risks, one of them is an infringement of
intellectual property. According to Parr (2018), the intellectual property consists of several
elements, namely patent, trademark, copyright, and intangible assets (software, procedures,
workforce, licenses, and contracts). Intellectual Property Infringement refers to any restricted
acts that are done without the rights holder’s permission (Intellectual Property Office, 2016). The
acts are copying, manufacturing, offering for sale, importation, digital publication or
communication (Intellectual Property Office, 2016).

There are six types of infringement which are patent infringement, copyright infringement,
product counterfeiting, trademark authorization, passing off, and gray market. In-depth, the
objective of patent infringement or piracy is to pass as an authentic product by conducting

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unauthorized reproduction, duplicating or imitating (Wagman & Scofield, 1999). Copyright
infringement means breaching copyright permission by reproducing, distributing, utilizing and
performing the copyright holder’s work. Next, using a mark/logo from registered trademark
products where the goods produced are identical or similar to the original is known as product
counterfeiting (Wagman & Scofield, 1999). According to Wagman and Scofield (1999), “passing
of” refers to the use of similar or identical packaging on a product without a trademark or using a
similar or identical trademark. Lastly, “gray market” which also known as parallel sales which
reimportation or exportation of the sale of authorized trademark products that are not approved
by the brand owner.

a.    Relationship and High Development Cost

In general, global sourcing is performed by utilizing wholly owned (majority ownership) or joint
venture strategy in order to enjoy low operating cost, better market, better workforce and access
to expertise (Polczynski, 2005). Therefore, both of these strategies must be based on trust and
commitment in order to be successful. Lack of those two elements might be resulted on
infringement of intellectual property by internal staffs or partners, namely the selling of
intellectual property information, piracy, counterfeiting, passing off and gray market. These
issues may be triggered by cultural difference; some cultures not even realize that stealing
others’ IP as an illegal action, but an opportunity instead (Polczynski, 2005). Hence, it is
complicated to change these deeply rooted behaviors and beliefs. Other than relationship issue,
the trigger of infringement seems to be the low cost of imitating product is low since the costs
and risks to develop a product are high (Horan, Johnson, & Sykes, 2005). Additionally, internal
employees with significant experience in the industry can perform a transaction of a trade secret
to competitors.

b.    Potential Vulnerabilities
Those conditions worsen as the patent law and regulation are significantly different from home
country thus patent decisions become complicated due to unfamiliarity and unpredictability
(Polczynski, 2005). Consequently, the patent attorneys involved might not have a working
relationship with overseas legal agencies or institution in order to obtain and enforcing patents
(Polczynski, 2005). The opposite extreme of the legal system may cause the inability to predict

8
protection environment. In that case, infringement is considerably extended and not monitored
thus patronage is the way to obtain a patent in some countries (Polczynski, 2005). Identically, IP
law may also differ depends on its regional and national legal nature thus create inadequate
protection and effective enforcement in the global market due to unpredictability (Roy &
Sivakumar, 2010). For example, there are enforceable exclusionary rights for a patent in the
United States but not outside the US and its territories (Roy & Sivakumar, 2010).

c.    Reputation
The counterfeit product can impact our reputation if customers do not know how to differentiate
between the authentic and fake one due to the negative impact consumer’s health and safety
because of poor-quality products (Fitzpatrick & Didullo, 2012; Vithlani,1997). Governments will
also be impacted because they will lose tax and invest on a large sum of money for intellectual
property right enforcement (Vithlani, 1997). For example, “Kylie lip kits” is one of the cosmetic
products with the most significant number of counterfeit products in the market. Hence, the fake
lipstick is positively containing bacteria, animal feces, and urine which had caused rashes and
bumps (Collman, 2018). As a result, a brand will experience not only financial losses but also its
reputation.

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Recommendation
As mentioned before, along this paper will also provide of a set of recommendation for the three
latest problems. This set of recommendation can help the supply manager and procurement
leader overcome the risk of global sourcing.

1.     Currency Fluctuation
a. Set Hedging Strategy
According to Jain (2013, cited in Niemann, Kotzé and Mannya, 2018), hedging is a technique
that will assist supply manager in the reduction or elimination of cost when the currency
fluctuation occurs. This is a great strategy for long-term trading since it will help business
against the volatility of currency, inflation and commodity price changes when they do global
sourcing (Laurea, 2013). With the well-structured hedging strategy, the organizations can lock
the price when they are trading internationally as well as enhance the risk management; hence,
the cash flow will be accurately predictable (Niemann, Kotzé and Mannya, 2018). In addition, if
the supply managers want to make the hedging fully successful, they should hire a good treasurer
who is good at monitoring exchange rate, know how much to hedge, which is the suitable
strategy and instrument to utilize (Young 2016). Other than the working experiences, the
treasurer also needs to learn about the objectives and financial goals of that business or
organization (Niemann, Kotzé and Mannya, 2018). To make the hedging strategy greatly
efficient, the supply manager and treasurer should do the different analysis to understand the
fluctuation of exchange rate.

On the other hand, the hedging process also associated with some disadvantage. The hedging
strategy is quite difficult to successfully achieve since it requires the treasurer to have good
trading skills and experiences; otherwise, he or she may fail to determine the where should the
firm hedges the price based on the scenarios (Laurea, 2013). Furthermore, when the currency
rate in the market is positive, the hedging process may bring lesser benefit for the company
which leads to the decrease in total profit (Laurea, 2013). It is not encouraged for the firm to use
hedging strategic as tactics because hedging usually takes a long time for the financial team to
analyze and understand the exchange rate trend in the market (Laurea, 2013).

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b.    Find an expert
Another way to minimize the risk of fluctuating exchange rate is to find an expert who has
brilliant knowledge on the international exchange rate. The supply manager or procurement
leader may not be expected to be expert in international currency rate; however, they know how
to choose the best adviser based on experiences (Poucher, 2017). By employing the expert, he or
she can monitor the changing of currency value in order to provide advice; therefore, the supply
manager can decide to have tactics or strategic currency plan for their foreign trade (Poucher,
2017). Moreover, the business is also able to buy the currency in advance with low rate since it
has someone to check the currency rate frequently. Consequently, the firms can take the benefit
before the transaction takes place when the fluctuation fall in the business’s flavor (Poucher,
2017).

c.     Set an agreement
If the business is dealing with more than one currency for global sourcing, it is crucial to address
all the issues of exchange rate fluctuation in a written agreement. Most of the time, the supplier
may find various ways to adjust the price over time to account for fluctuations (Christopher et
al., 2011). This could result in the increase of the amount of money that the company expected
and without a written agreement, the company cannot blame the supplier (Christopher et al.,
2011). Therefore, the business may desire to establish clear terms and conditions in the contract
with the supplier at the beginning. Later if the exchange rate and terms are laid out in the
agreement, business will be able to avoid the fluctuation risks (Christopher et al., 2011).

2. Physical risks of international logistics

a. Supply Chain Risk Management (SCRM)
A supply chain risk management (SCRM) is designed as a systematic and scientific process in
order to assist managers in dealing with unwanted consequences which occur from unexpected
activities or events (Rowe, as cited in Ghadge, Dani & Kalawsky, 2012). There are 5 steps to
determine risks in SCRM, will be listed in order: data sources identification; data synthesis;
analyse data; data distribution; risk classification. (Kumar & Park, 2018).

11
At first, managers are required to monitor the data sources in order to identify the reliable ones.
Some of the sources that managers can review are market risks, environmental risks, or
organisational risks (Zhu, Krikke & Caniels, 2017). Secondly, data can be collected, such as
financial data, customer data, market data, etc. for the use of evaluation of the entire logistics
performances. Next, data analysis is considered as the most crucial phase of them all (Cruzes et
al., as cited in Borgman & Rachan, 2009). With the purpose of identify the risks that directly
related to profits, from the data provided before, managers demand to classify what type of risks
might happen and expect the unexpected risks. Afterward, data will be categorised into levels
and managers have the obligation to seek for solutions or alternative choices.

When organisation apply SCRM into their supply chain, it would avoid organisations from
involving in unexpected crisis and assist them to find alternative options.

b. Form supply alliances

Regardless of globalisation trend, cultural conflicts are unavoidable between parties. Therefore, a
longer-term relationship among suppliers and buyers is necessary. However, when organisations
have the desire to form business alliances, they must choose the right partner to form alliances
(Kerns, 2000). The partnership requires similar interest in the similar market, or sharing the same
profitability goals. Regardless of the friendliness outside of business relationships, the lack of
support and trustworthy, supply alliances cannot be form successful. With the purpose of
selecting a successful partnership, it is essential that business strategies are transparent, maintain
an ongoing relationship and continuous collaboration (Bridson, 2000). The most crucial elements
of all when forming a business relationship is trust (Vaaland, 2006). With a trustworthy alliance,
which can be more benefits if organisations have international partnership, language barriers,
cultural differences or restricted regulations might not be as crucial as before. Moreover, supply
alliances can share knowledges, expertise, or achieve same objectives, as well as assisting each
other to achieve goals. In addition, the transformation of market conditions can also lead to
unsuccessful supply alliances.

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3. Infringement of Intellectual Property
a.    Select a suitable strategy.
There are two strategies to perform successful global sourcing which are wholly owned and joint
venture. The key is in selecting the suitable strategy according to a circumstance in the country
of choice. Firstly, wholly owned or majority ownership is captive sourcing which operates using
“do-it-yourself” approach. This strategy grants a cost saving over a period and also an excellent
control over day-to-day operations, namely quality, transparency, speed and security (Baldia,
2007). Furthermore, a significant amount of control over intellectual property thus a popular
strategy to safeguard critical IP. Conversely, there are also risks of operating under this strategy
which are longer implementation time, significant legal involvement with local jurisdiction, and
higher start-up cost (Baldia, 2007).

The second strategy is a joint venture which is a middle approach and a partnership-type entity.
This strategy involves a local partner that owns a percentage stake of the entity. The advantages
are reducing start-up cost and operating risks and also to decrease the uncertainty of the legal
system (Baldia, 2007). When the legal system is a complete opposite of home country, the
utilization of this system is essential because partners might know the law and regulations better
and they might have a connection within the country that can help with IP issues. For instance,
better protection against piracy can be granted as a unique benefit if we have a joint venture
relationship in China. However, there will be a complicated structural and operational issues in
the company then the conflict between multiple owners might arise (Baldia, 2007).

b.    Building and Enhancing Relationship

According to relationship theory, building trust and personal commitment at an early stage can
enhance and strengthen the relationship in the long run. The sense of solidarity can avoid
“leakage of knowledge” (Brown & Duguid, 2001, as cited in Roy & Sivakumar, 2010) and also
trigger the willingness to exchange information to enhance the processes. This formed
relationship might reduce the chance of intellectual property infringement because partner will
have the sense of loyalty and might enable the access to have protection from internal and
external issues, namely internal conflict and legal issues.

13
c.    Clearly define terms on the contract and create a trademark
It is essential to prohibit partners and workers to share confidential information to avoid any IP
infringement (Hedberg, 2017). On the contract, must contains the responsibility of each and
parties and the consequences of breaching each term defined. Infringement of intellectual
property can be one of the terms to be included. Especially, trade secret violation that can be
performed by an internal employee. Besides, reducing the chance of infringement can be done by
setting a trademark and more important is the characteristics of conditions that show
infringement of a trademark have to be clearly defined.

Conclusion
In conclusion, there are three major risks in global sourcing which are exchange rate fluctuation,
logistics issue and infringement of intellectual property. Firstly, fluctuation of exchange rate is
extremely unpredictable which leads to vary the value of the products and services thus changing
competitive environment. Therefore, to avoid or mitigate this risk, businesses can perform
hedging strategy, ask for expertise for advice or set an agreement to address the issues of
fluctuation of exchange rate. Secondly, international logistics are not only focusing on the
process of delivering products, but also expect the unexpected risks, which would save
organisations from suffering additional costs. Some possible solutions are applying Supply Chain
Risk Management (SCRM) and form supply alliances in order to avoid potential risks.  Lastly,
Intellectual property infringement might be a problem if relationship with partner or internal staff
is not fully developed or not strong enough. Furthermore, different laws and regulation of
intellectual property right from home country can also contribute to the inability to protect
intellectual property due to inadequate knowledge and support. Reputation will be also in stake if
a lot of counterfeiting products are being sold in the market thus customer’s satisfaction, health
and risk will be in a risk. Hence, there are few ways to mitigate and avoid infringement of
intellectual property which consist of selecting a suitable venture strategy, building and
enhancing relationship with partner and staffs, set a trademark and create a clearly defined
contract.

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