low-cost country sourcing (LCCS) |
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Definition
A procurement strategy in which a company uses foreign companies with lower wages to produce resources for manufacturing. By finding companies that are operate on leaner budgets than domestic operations, a company may be able to reduce operational expenses. Low-cost country sourcing is a part of a company's global sourcing strategy. See also outsourcing, international procurement organization (IPO).
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low-cost country sourcing (LCCS) is in the Economics, Politics, & Society, HR, Teams, & Training, Industries, Manufacturing, & Technology and International Trade & Relations subjects.
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