Low-cost country sourcing (LCCS),
Definition of Low-cost country sourcing (LCCS):
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
