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)
A manufacturer, distributor or processor that, through distinctive technological advantages or economies of scale, is able to deliver products or services at a cost that is below the general market resulting in more competitive pricing or larger profit margins.
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