Globalization has taken the world by storm. It started in the late 80s and early 90s and exploded through the 2000s. Today, conglomerates are trading at an international level. This means the buyer is from one country and the supplier from another. Due to this, there’s been a need for an international purchasing agent. The YouTube video “International purchasing and global sourcing” defines the role.
An international buying agent can be a person or a company. If it’s a person, they are employed by the buyer. If it’s a company, the buyer outsources the purchasing function to another company.
Defining the Roles
Companies are sourcing products, materials, and other goods globally. These companies are known as the buyers. An agent acts as an intermediary between the buyer and the supplier. It’s the responsibility of the international buying agent to ensure a smooth process. The agent addresses communication barriers, sources different products, and negotiates prices. The buying agent assumes full responsibility for the buying process.
There are often many risks associated with international trade. It is the international buyer’s job to cut these risks as much as possible. It’s an essential job with many benefits and excellent remuneration packages.