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)

More On This Topic

Link to This Definition
Did you find this definition of GLOBAL SOURCING helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary