global sourcing
Definition
A procurement strategy in which a business seeks to find the most cost efficient location for manufacturing a product, even if the location is in a foreign country. For example, if a toy manufacturer finds that manufacturing and delivery costs are lower in a foreign country due to lower wages of foreign employees, the company might close the domestic factory and use a foreign manufacturer. See also outsourcing, international procurement organization (IPO)
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global sourcing is in the Purchasing & Procurement subject.
global sourcing appears in the definition of the following term: low-cost country sourcing (LCCS)
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