LOW-COST COUNTRY SOURCING (LCCS)
\lˈə͡ʊkˈɒst kˈʌntɹi sˈɔːsɪŋ ˌɛlsˌiːsˌiːˈɛs], \lˈəʊkˈɒst kˈʌntɹi sˈɔːsɪŋ ˌɛlsˌiːsˌiːˈɛs], \l_ˈəʊ_k_ˈɒ_s_t k_ˈʌ_n_t_ɹ_i s_ˈɔː_s_ɪ_ŋ__ ˌɛ_l_s_ˌiː_s_ˌiː__ˈɛ_s]\
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Using foreign companies with lower wages to generate manufacturing resources as a company's procurement strategy. A company may be able to lower operational expenses by locating companies operating on leaner budgets than domestic operations. Part of a company's global sourcing strategy is low-cost country sourcing. Also refer to outsourcing, international procurement organization (IPO).TLDÂ Example: The new retail store opened to much fanfare, but it remains to be seen whether its low-cost strategy will bring it the market share it needs to stay in business.
By Henry Campbell Black
Nearby Words
- low-churchism
- low-churchman
- low-churchmanship
- low-class
- low-cost
- LOW-COST COUNTRY SOURCING (LCCS)
- low-cut
- low-density
- low-density lipoprotein
- low-down
- low-fat milk