It is a well-accepted fact that the internet has shrunk the world and changed the way we live as consumers. It is also changing the way businesses manage their operations. An important area in which firms have benefited as a result of the World Wide Web is that of supply chain management. Specifically global sourcing. Prior to the penetration of the internet into every sphere of business, firms used the traditional formula for looking for the best sourcing and suppliers for components and products. This sourcing process consists of a rigorous search for suppliers follower by innumerable meetings. Telephone calls, faxes, mail and jet-setting around the global to pin down the appropriate supplier. This entire process takes anywhere between two months to six months on the average. Searching for suppliers on a global basis to lower costs takes on longer at time