I never use IDE global path, nor library folder. All my project have explicit paths (always relative) to everything, except components delivered with Delphi. All my components and all 3rd party components I use are all explicitly added to all projects they are used in. And I always recompile everything, never use a prebuilt dcu, obj or package. This way I'm always sure to have everything required to build an application. On the computer I use, it takes only a few seconds to compile hundreds of thousands code line.
I use Delphi since version 1 (25 years ago) for almost full time. I wrote hundreds of applications, some of which are very large. I have always had great success. I will not change the way I work.