Developments concerning the topic Global sourcing including offshoring and outsourcing has evolved in a fast pace during the past decade. More and more firms have become involved varying from multinationals to small and medium sized enterprises. Activities involved move increasingly up the value chain, whereas before outsourcing and offshoring involved mostly low skilled labour, today it also involves high skilled functions related to innovative core-activities of companies.

This award is the culmination of the recent developments in the field of Global Sourcing, sourcing of management and activities around the globe, encompasses key aspects like ‘off-shoring’ and ‘outsourcing’. It is a trend that has evolved in the last decade. Apart from these developments, more and more companies, multinationals, medium or small sized companies have recognized and are rapidly absorbing this concept resulting in activities increasingly moving up the value chain. Erstwhile outsourcing and off-shoring involved mostly low-skilled labor, however, today it also involves high skilled functions related to innovative core-activities of the company.

Companies, both large and small, from all parts of the world  are increasingly recognizing and reaping the benefits of sourcing work abroad either via a third party or under direct control. Whilst faced with challenges in maintaining and enhancing innovations in partnerships with third parties, Global Sourcing and Innovation as a strategic pair will dominate many Corporate’s agenda to stay on par with developments in the international arena.

Innovation effort can be focused on many different aspects of a product and its related processes.  Conceptual design teams need to know where to focus their innovation efforts, strategically, to add the most value.  Innovation for innovation's sake alone is not valuable.