Low-cost country sourcing (LCCS)

Low-cost country sourcing (LCCS),

Definition of Low-cost country sourcing (LCCS):

  1. 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 companys global sourcing strategy. See also outsourcing, international procurement organization (IPO).

Meaning of Low-cost country sourcing (LCCS) & Low-cost country sourcing (LCCS) Definition