Hnd采购outcome2.docx
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Hnd采购outcome2.docx
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Content
1.0Introduction
3.0TheFactorsAffectingForeignExchangeRates
4.0EvaluatetheFinancialRiskonExchangeRateofIPD
4.1TheInfluenceoftheFluctuationonExchangeRatetoPayment
4.2TheBenefitofForwardBuyingtoanImporter
5.0TheEffectofCounter-TradeonOverseasTrading
6.0TheNeedForAnIPDtoAchieveContinuityandSecurityofSupplyRequirements
7.0Conclusion
8.0Reference
1.0Introduction
Thisreportisrequestedbyinternationalpurchasingandsupply.Itwillevaluatethekeychallengesinoverseassourcing.
Thereportwillassesstheculture,languageandcommunicationofoverseasprocurement.Atthesametime,itanalyzesthefactorsthataffectexchangerate.Inadditiontothis,inpdcurrencyfinancialriskwillalsobementioned.Ofcourse,thereportwilldiscusstradeandneedofIPD,inordertoachievethecontinuityofsupplyrequirementsandsafety.
2.0TheEffectsofCulture,LanguageandCommunication
Becauseofdifferencesinlanguageandculturalexchangeswith,leadingtodifferentbodylanguageandidiomofnegotiationsthetwosidestouse,itmakesthenegotiationsmoredifficult.SofortheIPDforenteringthemarketmustfirstinvestigatethedifferencesofcultureandlanguage,andtoovercometheimpactofdifferencesinlanguageandculturalcontextbrings.
Toavoidproblemscausedbythesedifferences,wecanuseHofstede'sfiveculturaldimensions(Hofstede,Geert,1984)tomeasurethedifferentcountriesandculturaldifferences.Thisfiveculturaldimensionsincludingpowerdistance,Individualism(IDV)vs.Collectivism,Uncertaintyavoidanceindex,Masculinity(MAS),vs.Femininity,Long-termorientation(LTO),vs.shorttermorientationandIndulgenceversusrestraint(IVR).
Forexample,tounderstandacountry'smanagementculture,younotonlyhaveknowledgeofthiscountry,butalsoitsculturehaveacompleteconcept,cantakethehint.BMmakeChina'sprocurementandEuropearedifferent.InChina,thelong-termdirectionishigher,sowhenIBMmadethesigningofcontractswithChinesesuppliers,theyhavetomakealong-termcontract,becausetheChinesesuppliersconcernedaboutthefuture,butitisanothercaseinEurope.Inadditiontothis,differentcountrieshavedifferentlanguagesandcommunicationmode,itcancausesomeproblems.Forexample,IBMandChinesesupplierstocommunicateinEnglish,butbecauseofthelanguagedifference,suppliersneedtohireatranslator,itmayleadtomisunderstandings.CommunicationbetweenChinaandtheUnitedStatesintheUnitedStatesmaywishtoreachanagreementandsignedacontract,whileChinamaytakemoretimefornon-commercialactivities,intheformofminilecturesandhospitablepreferenceagreementtoestablisharelationshipfirst.Therefore,thesewillaffecttheoverseasprocurement.
3.0TheFactorsAffectingForeignExchangeRates
Therearemanyfactorsthatcanaffecttheexchangerate,asinflation,interestrates,thecurrentaccountdeficit,publicdebt,tradeandpoliticalstabilityandeconomicperformance.Thesefactorswillaffecttheexchangerateindifferentways.
Inflation(Ottawa:
JamesonBooks,1990)impliesariseinthedomesticpricelevel,whenamajorityoftheeconomyandlaborcommoditypricesgenerallyrosecontinuouslyoveraperiodoftime,itsaidthattheeconomyhasexperiencedsignificantinflation.Becausethepriceisthevalueofacountry'scommoditycurrencies,inflationmeansthatrepresentativesofthecountry'scurrencyValuedecrease.Inthecaseofdomesticandinternationalcommoditymarketsarecloselylinked,ingeneral,inflationanddomesticpriceswouldresultinadecreaseandincreaseexportsofimportedgoods,thusanimpactonsupplyanddemandontheforeignexchangemarket,resultinginthecountry'sexchangeratefluctuations.Atthesametime,adeclineinthevalueofdomesticcurrencywillcertainlyaffectitsexternalvalue,weakeningthecountry'screditstandingintheinternationalcurrencymarket,peoplewillexpecttheexchangerateduetoinflationandthecountry'sweakcurrencywilltendtoholdthehandsofthenationalcurrencyconvertedintoothercurrencies,causingthedollartofall.Inaccordancewiththelawofonepriceandpurchasingpowerparitytheory,whenthevalueofacountry'sinflationrateinflationrateinanothercountry,thatcountry'scurrencyrelativetoanotherrepresentativeoftheactualcurrencyinreducingthecountry'scurrencywilldecline.Onthecontrary,itwillrise.
Forexample,beforethe1990s,theJapaneseyenandthedeutschemarkexchangerateisverystrongoriginaloneimportantreasonisthattheinflationratehasbeenverylowinbothcountries.BritainandItaly'sinflationrateisoftenhigherthantheaverageofotherWesterncountries,sothatthetwocurrenciesattheexchangerateonadowntrend.
4.0Evaluatet
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