The Law Dictionary

Featuring Black’s Law Dictionary Free Online Legal Dictionary 2nd Ed.

What is GLOBAL SOURCING

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)

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