Global sourcing is the practice of procuring goods and services from suppliers located around the world. Companies engage in global sourcing to take advantage of lower costs, access specialized skills, or obtain unique materials that may not be available locally. This strategy can enhance competitiveness and improve product quality. By sourcing globally, businesses can also diversify their supply chains, reducing reliance on a single market. However, global sourcing can introduce challenges such as longer lead times, cultural differences, and potential supply chain disruptions. Companies must carefully manage these factors to ensure successful global operations.