HND采購報(bào)告材料3

1、Con tent1.0 In troductio n13.0 The Factors Affecting Foreign ExchangeRates24.0 Evaluate the Financial Risk on ExchangeRate of IPD54.1 The In flue nee of the Fluctuati on onExcha nge Rate to Payme nt54.2 The Ben efit of Forward Buyi ng to anImported5.0 The Effect of Counter-Trade on OverseasTradi ng6

2、6.0 The Need For An IPD to Achieve Continuityand Security of Supply Requireme nts77.0 Co nclusio n88.0 Refere nce81.0 IntroductionThis report is requestedby international purchasing and supply. It will evaluate the key challe nges in overseas sourc ing.The report will assess the culture, language an

3、d munication of overseas procurement. At the same time, it analyzes the factors that affect exchange rate. In addition to this, in pd currency financial risk will also be mentioned. Of course, the report will discuss trade and n eed of IPD, i n order to achieve the con tin uity of supply requireme n

4、ts and safety.2.0 The Effects of Culture, Language and municationBecause of differe nces in Ian guage and cultural excha nges with, lead ing to differe nt body Ianguage and idiom of negotiations the two sides to use, it makes the negotiations more difficult. So for the IPD for entering the market mu

5、st first investigate the differences of culture and Ianguage, and to overe the impact of differe nces in Ian guage and cultural con text brin gs.To avoid problems causedby these differe nces, we can use Hofstedes five cultural dimensions (Hofstede, Geert, 1984) to measure the different countries and

6、 cultural differences. This five cultural dimensions including power distanee, Individualism (IDV) vs. Collectivism, Uncertainty avoidanee index, Masculinity (MAS), vs. Femininity, Long-term orientation (LTO), vs. short term orientation and Indulgence versus restra int (IVR).For example, to understa

7、nd a countrys management culture, you not only have knowledge of this country, but also its culture have a plete concept, can take the hint. BM make Chinas procurement and Europe are different. In China, the Iong-term directi on is higher, so whe n IBM made the sig ning of con tracts with Chin ese s

8、uppliers, they have to make a Ion g-term con tract, becausethe Chin ese suppliers concerned about the future, but it is another case in Europe. In addition to this, different coun tries have differe nt la nguages and muni cati on mode, it can cause some problems. For example, IBM and Chin ese suppli

9、ers to muni cate in En glish, but because of the Ianguage difference, suppliers need to hire a translator, it may lead to misunderstandings.munication between China and the United States in the United States may wish to reach an agreeme nt and sig ned a con tract, while Chi na may take more time for

10、 non-mercial activities, in the form of mini lectures and hospitable prefere nce agreeme nt to establish a relati on ship first. Therefore, these will affect the overseas procureme nt.3.0 The Factors Affecting Foreign Exchange RatesThere are many factors that can affect the excha nge rate, as in fla

11、ti on, in terest rates, the current account deficit, public debt, trade and political stability and economicperforma nee. These factors will affect the excha nge rate in differe nt ways.In flati on (Ottawa: James on Books,1990) implies a rise in the domestic price level, whe n a majority of the econ

12、omy and labor modity prices gen erally rose con ti nu ously over a period of time, it said that the economy has experieneed significant inflation. Because the price is the value of a countrys modity currencies, inflation means that represe ntatives of the coun trys curre ncy Value decrease. In the c

13、ase of domestic and international modity markets are closely linked, in general, inflation and domestic prices would result in a decreasea nd in crease exports of imported goods, thus an impact on supply and dema nd on the foreig n excha nge market, result ing in the countrys exchange rate fluctuati

14、ons . At the same time, a decline in the value of domestic currency will certainly affect its external value, weakening the countrys credit sta nding in the intern atio nal curre ncy market, people will expect the excha nge rate due to inflation and the countrys weak currency will tend to hold the h

15、ands of the n ati onal curre ncy con verted in to other curre ncies, caus ing the dollar to fall. In accorda nee with the law of one price and purchas ing power parity theory, whe n the value of a countrys inflation rate inflation rate in another country, that countrys currency relative to another r

16、epresentative of the actual currency in reducing the coun trys curre ncy will decli ne. On the con trary, it will rise.For example, before the 1990s, the Japa nese yen and the deutsche mark excha nge rate is very strong original one important reason is that the inflation rate has been very low in bo

17、th countries. Britain and Italys inflation rate is often higher than the average of other Western countries, so that the two currencies at the exchange rate on a dow ntrend.Ch覘PJl幗恤:晰就bMonm mm huu m旎il IB那幗滋躺臧劇腳腳聃斟MH, OffO啣冊畔哋刪刪航冊測g購帥WOdMtapefSCRW掰*厠9創(chuàng)9.512S.W5.512理 g訓(xùn)REER Cm捌hkiWl：fl.)：flW 1恥0ww118

18、.1:411卅11池1he hi1I7.I/1m.刪1011311mM師伽fWpOmim曲Fe唧惘【枷訓(xùn)訓(xùn)0訓(xùn)】6加伽）涮涮）(WR曲Wpffta150)1仙1X010D3訓(xùn)aDXIXfl血】Resell刪腳皿】nim訓(xùn)*斟伽BAigMl腑湍SCRsW-KJ珊皿漁珊測WJf 2卯肌斟I唧陰32瞞他MIM3B2；謝2WW2WM址.WtaHnusGddSCRs懾做IB mm 繃刪2唧12曲WiiB濫酈 mm 澱理哦 卿畑ww 2陽囉船”勵(lì)舸伽EBW珊】卿 W.3383：|般0蝴 W龍膜.脛?dòng)?xùn)卩圖ni血冊：ECRs值昭訓(xùn)船腳13on朋皿111212W附如倒旳m w訓(xùn)SCR4:幗SCRs朋1爛m)m1

19、W卿W測1F腳時(shí)哪SCRs聰皿附!W IW ww 25W mm ww 2鮒刪 ffl.111 即 I1M 26OTTJ.陽陽捌師hi冊1御 加 毗 K13nadeMs刪冊K122DI1 m 刑4 鋼皿W SUM m皿糊眥訓(xùn)祀:巨:慵1個(gè)罰懺他那咖汕軸細(xì)訓(xùn)釧訓(xùn)說4哪師呱胡側(cè).飾SB 2W砂他叫加加郵1驚住Ml咽訓(xùn)）訓(xùn)厠伽伽:僦謹(jǐn)SW 冊加那価血“酈 1155,53.10加軌訓(xùn)Er収町;n帥:則K1220IJ刑4GD訓(xùn)喇恤制CM。爛劉跚腳W111 沐.Unit Of MeasureExchange RatesNational Currency per US DollarFrequencyAnnua

20、lQuaTime2009f 5010f 2011r 20122C13501302501304Country a.nd GroupArgenti 仃33.78003.95604.284D4.89806.50105.37505.77506.5010Australia1.11500.98 400.98460.96111.12801.07891.07421.1280Austria0.69420.74040.77290.75790.72S10.76460.74050.7251Belgium0.69420.7484077290.75790.72510.76460.74060.7251Brazil1.740

21、41JB8581.65662.04612.36SB2.5165225712.3638Canada1.04661.WC9102100.99&21.06401.04691.O3W10B40China, PR.: Mainland6.B2B26.62296.3D096.20966.10246.17796.14806.1024China, RR.: Hong Kong7.75557.77457.76557.75057.75357.75657.75357.7535Denmark5.19015.61335.74565.65915.41375.72 705.52245.4137Euro Area0.6942

22、0.74840.77290.75790.72610.76450.7450.7261Finland069420.74840.77290.75790.72510.76460.7450.7251France0.69420.74840.77290.7579C.72S10.7645O.74C50.7251Germany0.69420.74340.77290.75790.72510.76450.74050.7251Long-term Interest RatesUnit Of Measure Percent per Annum4.0 Evaluate the FinancialRisk on Exchan

23、geRate ofFrequencyAmualQuarterlynme*2009r2010f2O11r2012f20132013 Q32013Q42014 QI2D14Q22014 Q3Country and GroupAustralia&.&45.374.S83,333.7D3.074.114143.043.47Austria3 &43233.322372.012.212 151.9S1.B31.32Belgium3 903.464.233 002.412 652.472.371 991.44Canada3 693.663212 332.722%2.9S2.312 692.55Denmark

24、3,592.932.731 401.761.941,871.711.471.09Euro Area4033.784.313.063.013.203.213.062 462.00Finland3.743.013.011.851日62.062.011,941 701.22France3,653.123.322.542.202.372.332 261.061 44Germany3.222 742.611 501 571 731J51 611.550.99IPD4.1 The Influenceof the Fluctuationon Exchange Rate toPaymentTo excha n

25、ge rate fluctuati ons could affect many aspects, such as procureme nt and cost con trol of the pany. If the excha nge rate fluctuati ons, buyers can pay more money to buy the same product, it will in crease the purchase cost, is not con ducive to cost control. Therefore, in the exchange rate volatil

26、ity will affect pay and lead to financial risk.For example, IBM hopes to purchase some electronic ponents from China, however, if the excha nge rate is dow n, this means that the appreciati on of the renminbi is, so the pany n eed to pay more money to buy material, the cost will in crease. Therefore

27、, excha nge rate fluctuatio ns will in flue nee the cost con trol, eve ntually lead to finan cial risks. Of course, there are several ways to reduce financial risk. IBM can use of hedging the futures market and the limitation of the set, it can be used in the current currency payment transactions, t

28、his will reduce the financial risks of currency fluctuati ons.4.2 The Benefit of Forward Buying to an ImporterHedge means for the intern ati onal sale of goods in Mathes on, i mport and export traders, as well as those engaged in international investment, if the expected future payment of a certain

29、amount of foreign exchange, in order to avoid losses due to changes produced can be used Iong-term in order to avoid the risk of foreign exchange transactions, such hedging operation, known as Iong-term hedging or forward hedgi ng. It is a still profitable at the same time to reduce the bus in ess r

30、isk in the in vestme nt practices.If the pany thi nk the excha nge rate will decli ne, and the pany have the con tract. In order to avoid exchange rate risk, the pany can take advantage of the Iong-term purchase to reduce risk. There are several ways to avoid finan cial risk. Such as money market he

31、dge, the opti ons market hedge, the forward market hedge, hedge exposure, hedge repeated exposure, swaps, etc. Through the Inv oice curre ncy, hedg ing via lead and lag, exposure n ett ing and cross - hedgi ng minor curre ncy exposure.For example, in 1997, Soross Quan tum Fund sold a lot of baht to

32、buy other curre ncies, the Thai stock market fell, the Thai governmen t can no Ion ger mai nta in the peg, the economic losses. And the fund is greatly profit. In addition to Thailand, Hong Kong, in order to main tai n the curre ncy peg prices are subject to n ati onal and regi onal challe nges of h

33、edge fun ds. Gover nment to raise in terest rates sharply, up 300 perce nt overnight interest rate, foreign exchange reserves of HK $ 120 billion more to spend large qua ntities of Hong Kong stocks. Fin ally repel speculators.5.0 The Effect of Counter-Trade on Overseas TradingCounter trade (Verzariu

34、, P., 1992) is a loose concept, there is not a standard definition and determ in atio n of the boun daries, it is out of the bin ati on, in cludi ng export and import trade reciprocal con diti ons for a variety of mon characteristics of collectively.Coun ter-trade is means that excha nging goods or

35、services which are paid for, in whole or part, with other goods or services, rather than with money. It has to choose the trade in some situation. For example, countertrade also occurs when countries lack sufficie nt hard curre ncy, or when other types of market trade are impossible. this is because

36、such tran sacti ons do not n eed mon ey, it can solve this problem .In some countries, other types of market trade is impossible, such as North Korea, as the country suffered a block, it can not use other tran sacti ons. Mean while, in some coun tries, very strict excha nge con trols, the buyer can

37、use this tran sacti on to buy some products. Finally, in some developing countries, they use to control the trade and merce as the developme nt of tech no logy.We can say that the can cellati on of trade gen erally occurred in trade betwee n the mature market economies and less developed market syst

38、em. In this case, the can cellati on of trade is gen erally believed there are several adva ntages: con duct counter trade helps us deal with a national shortage of foreign exchange. counter trade can promote exports. Trade protect ionism is rampa nt in con temporary, through coun ter trade, help br

39、eak the barriers to trade in Wester n coun tries for their products, especially manufactured goods from developing countries to open markets. (3) counter trade can be used to reduce the uncertainty of export revenue. can avoid the use of coun ter-trade agreeme nts in intern ati onal prices, such as

40、the Orga ni zati on of Petroleum Exporting Countries (OPEC) price agreement. (5) counter trade can help heavily in debted coun tries continue to import goods and export reve nues actually con ceal fragra nt creditors. Trade protect ioni sm, however, coun ter trade could be very dan gerous bus in ess

41、. Due to con ceal the real tran sacti on prices and costs, on the sale and promoti on of trade can cover a country with low Ion g-term ben efits in the market. panies becausethey can not get rid of low-quality products will suffer. Fin ally, the can cellati on of trade might be con sidered a form of

42、 trade protectio nism. Extremely unfavorable factors are: (1) on the sale with a strong bilateral trade and closed, which is actually based on restrictive measures against protectionism, and the results actually in creased trade protect ionism atmosphere. (2) In the above model, price and quality of

43、 the main factors that determ ine the tran sacti on is not a modity, but rather depe nds on the repurchase mitme nt. This in evitably weake n the role of the market mecha ni sm.6.0 The Need For An IPD to Achieve Continuity andSecurity of Supply RequirementsTo en sure the con siste ncy and security o

44、f the supply cha in is very importa nt for IPD, this is because of many participa nts in the supply cha in, it will affect the purchas ing and there is a risk of internal and exter nal risks, for example, the suppliers risk and distribution risk. If the pany to achieve the requirement of continuity

45、and security of supply, they must pay attention to these risks, and adopted some measures, such as, integrated information system, infrastructure, transport and distribution network, select the appropriate suppliers and others.There are several measuresin order to maintain continuity and security of supply chain can be useful. For example, for the risk of supplier, the pany can undertake agreeme nt, suppliers and en sure the