The purpose of this research is to identify the core values and key success factors in strategic sourcing; and to examine the importance of strategic sourcing and the key success factors in the Hong Kong toy industry. In addition, the relationship between the implementation of the key factors and sourcing performance in the Hong Kong toy industry are investigated.
The empirical research is based on a questionnaire survey that collected data from 205 Hong Kong toy companies. The survey investigated the degree of importance of key success strategic sourcing factors and the extent of implementation of the key factors in the companies. Furthermore, the sourcing performance of the companies was measured to investigate its relationship with the implementation of the key factors.
The research identifies five core values and 14 key success factors in strategic sourcing through literature reviews. The survey findings indicate that the identified key success factors are important and positively related to the sourcing performance. Moreover, the results show that the implementation of strategic sourcing in the Hong Kong toy industry is lagging behind the degree of importance of strategic sourcing.
Since there is a gap between the implementation and importance of strategic sourcing, there is room for the Hong Kong toy industry to improve sourcing performance by addressing the 14 key success factors.
The paper identifies the key success strategic sourcing factors to improve sourcing performance in the Hong Kong toy industry.
