GLOBAL SOURCING
\ɡlˈə͡ʊbə͡l sˈɔːsɪŋ], \ɡlˈəʊbəl sˈɔːsɪŋ], \ɡ_l_ˈəʊ_b_əl s_ˈɔː_s_ɪ_ŋ]\
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A business’s procurement strategy for establishing the most cost efficient location for a manufactured product. typically located in a foreign country. As is currently true, a company closes the domestic factory and uses a foreign manufacturer as it finds manufacturing and delivery costs lower in a foreign country due to lower wages. Also refer to outsourcing, international procurement organization (IPO)
By Henry Campbell Black
Word of the day
dust storm
- a windstorm that lifts up clouds of dust or sand a windstorm that lifts up clouds dust or sand; "it was the kind of duster not experienced in years"