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Low-cost Country Sourcing
Low-cost country sourcing (LCCS) is procurement strategy in which a company sources materials from countries with lower labour and production costs in order to cut operating expenses. LCCS falls under a broad category of procurement efforts called global sourcing. The process of low-cost sourcing consists of two parties. The customer and the supplier countries like US, UK, Canada, Japan, Australia, and West European nations are considered as high-cost countries (HCC) whereas resource rich and regulated wage labor locations like China, India, Indonesia, Bolivia, Brazil, Russia, Mexico, and East European nations are considered low-cost countries (LCC). In low-cost-country sourcing the material (products) flows from LCC to HCC while the technology flows from HCC to LCC. The primary principle behind LCCS is to obtain sourcing efficiencies through identifying and exploiting cost arbitrage between geographies. Aside from price other reasons for engaging in global sourcing can include ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Procurement
Procurement is the method of discovering and agreeing to terms and purchasing goods, Service (economics), services, or other works from an external source, often with the use of a tendering or competitive bidding process. When a government agency buys goods or services through this practice, it is referred to as Government procurement, public procurement. Procurement as an organization, organizational process is intended to ensure that the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risks such as exposure to fraud and collusion. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and fluctuations in the prices of goods. Organisations which have adopted a corporate social responsibility perspective are also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PEST Analysis
In business analysis, PEST analysis ("political, economic, socio-cultural and technological") describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. It is part of an external environment analysis when conducting a strategic analysis or doing market research, and gives an overview of the different macro-environmental factors to be taken into consideration. It is a strategic tool for understanding market growth or decline, business position, potential and direction for operations. PEST analysis was developed in 1967 by Aguilar as an environmental scanning framework. Aguilar argued that firms must scan the economic, technical, political and social categories (ETPS) that may affect strategy, defining environmental scanning as follows, “scanning for information about events and relationships in a company’s outside environment, the knowledge of which would assist top management in its task of charting the company’ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Productivity
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity (including those that are not defined as ratios of output to input) and the choice among them depends on the purpose of the productivity measurement and/or data availability. The key source of difference between various productivity measures is also usually related (directly or indirectly) to how the outputs and the inputs are aggregated to obtain such a ratio-type measure of productivity. Productivity is a crucial factor in the production performance of firms and nations. Increasing national productivi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Czech Republic
The Czech Republic, or simply Czechia, is a landlocked country in Central Europe. Historically known as Bohemia, it is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the southeast. The Czech Republic has a hilly landscape that covers an area of with a mostly temperate continental and oceanic climate. The capital and largest city is Prague; other major cities and urban areas include Brno, Ostrava, Plzeň and Liberec. The Duchy of Bohemia was founded in the late 9th century under Great Moravia. It was formally recognized as an Imperial State of the Holy Roman Empire in 1002 and became a kingdom in 1198. Following the Battle of Mohács in 1526, the whole Crown of Bohemia was gradually integrated into the Habsburg monarchy. The Protestant Bohemian Revolt led to the Thirty Years' War. After the Battle of White Mountain, the Habsburgs consolidated their rule. With the dissolution of the Holy Empire in 1806, the Cro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungary
Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia and Slovenia to the southwest, and Austria to the west. Hungary has a population of nearly 9 million, mostly ethnic Hungarians and a significant Romani minority. Hungarian, the official language, is the world's most widely spoken Uralic language and among the few non-Indo-European languages widely spoken in Europe. Budapest is the country's capital and largest city; other major urban areas include Debrecen, Szeged, Miskolc, Pécs, and Győr. The territory of present-day Hungary has for centuries been a crossroads for various peoples, including Celts, Romans, Germanic tribes, Huns, West Slavs and the Avars. The foundation of the Hungarian state was established in the late 9th century AD with the conquest of the Carpathian Basin by Hungar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cambodia
Cambodia (; also Kampuchea ; km, កម្ពុជា, UNGEGN: ), officially the Kingdom of Cambodia, is a country located in the southern portion of the Indochinese Peninsula in Southeast Asia, spanning an area of , bordered by Thailand to the northwest, Laos to the north, Vietnam to the east, and the Gulf of Thailand to the southwest. The capital and largest city is Phnom Penh. The sovereign state of Cambodia has a population of over 17 million. Buddhism is enshrined in the constitution as the official state religion, and is practised by more than 97% of the population. Cambodia's minority groups include Vietnamese, Chinese, Chams and 30 hill tribes. Cambodia has a tropical monsoon climate of two seasons, and the country is made up of a central floodplain around the Tonlé Sap lake and Mekong Delta, surrounded by mountainous regions. The capital and largest city is Phnom Penh, the political, economic and cultural centre of Cambodia. The kingdom is an elective co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Albania
Albania ( ; sq, Shqipëri or ), or , also or . officially the Republic of Albania ( sq, Republika e Shqipërisë), is a country in Southeastern Europe. It is located on the Adriatic and Ionian Seas within the Mediterranean Sea and shares land borders with Montenegro to the northwest, Kosovo to the northeast, North Macedonia to the east and Greece to the south. Tirana is its capital and largest city, followed by Durrës, Vlorë, and Shkodër. Albania displays varied climatic, geological, hydrological, and morphological conditions, defined in an area of . It possesses significant diversity with the landscape ranging from the snow-capped mountains in the Albanian Alps as well as the Korab, Skanderbeg, Pindus and Ceraunian Mountains to the hot and sunny coasts of the Albanian Adriatic and Ionian Sea along the Mediterranean Sea. Albania has been inhabited by different civilisations over time, such as the Illyrians, Thracians, Greeks, Romans, Byzantines, Venetians, and Ot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bulgaria
Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Macedonia to the west, Greece and Turkey to the south, and the Black Sea to the east. Bulgaria covers a territory of , and is the sixteenth-largest country in Europe. Sofia is the nation's capital and largest city; other major cities are Plovdiv, Varna and Burgas. One of the earliest societies in the lands of modern-day Bulgaria was the Neolithic Karanovo culture, which dates back to 6,500 BC. In the 6th to 3rd century BC the region was a battleground for ancient Thracians, Persians, Celts and Macedonians; stability came when the Roman Empire conquered the region in AD 45. After the Roman state splintered, tribal invasions in the region resumed. Around the 6th century, these territories were settled by the early Slavs. The Bulgars, led by Asp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Romania
Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, Moldova to the east, and the Black Sea to the southeast. It has a predominantly Temperate climate, temperate-continental climate, and an area of , with a population of around 19 million. Romania is the List of European countries by area, twelfth-largest country in Europe and the List of European Union member states by population, sixth-most populous member state of the European Union. Its capital and largest city is Bucharest, followed by Iași, Cluj-Napoca, Timișoara, Constanța, Craiova, Brașov, and Galați. The Danube, Europe's second-longest river, rises in Germany's Black Forest and flows in a southeasterly direction for , before emptying into Romania's Danube Delta. The Carpathian Mountains, which cross Roma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ukraine
Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian invasion, it was the eighth-most populous country in Europe, with a population of around 41 million people. It is also bordered by Belarus to the north; by Poland, Slovakia, and Hungary to the west; and by Romania and Moldova to the southwest; with a coastline along the Black Sea and the Sea of Azov to the south and southeast. Kyiv is the nation's capital and largest city. Ukraine's state language is Ukrainian; Russian is also widely spoken, especially in the east and south. During the Middle Ages, Ukraine was the site of early Slavic expansion and the area later became a key centre of East Slavic culture under the state of Kievan Rus', which emerged in the 9th century. The state eventually disintegrated into rival regional po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethiopia
Ethiopia, , om, Itiyoophiyaa, so, Itoobiya, ti, ኢትዮጵያ, Ítiyop'iya, aa, Itiyoppiya officially the Federal Democratic Republic of Ethiopia, is a landlocked country in the Horn of Africa. It shares borders with Eritrea to the north, Djibouti to the northeast, Somalia to the east and northeast, Kenya to the south, South Sudan to the west, and Sudan to the northwest. Ethiopia has a total area of . As of 2022, it is home to around 113.5 million inhabitants, making it the 13th-most populous country in the world and the 2nd-most populous in Africa after Nigeria. The national capital and largest city, Addis Ababa, lies several kilometres west of the East African Rift that splits the country into the African and Somali tectonic plates. Anatomically modern humans emerged from modern-day Ethiopia and set out to the Near East and elsewhere in the Middle Paleolithic period. Southwestern Ethiopia has been proposed as a possible homeland of the Afroasiatic langua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malaysia
Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two regions: Peninsular Malaysia and Borneo's East Malaysia. Peninsular Malaysia shares a land and maritime Malaysia–Thailand border, border with Thailand and Maritime boundary, maritime borders with Singapore, Vietnam, and Indonesia. East Malaysia shares land and maritime borders with Brunei and Indonesia, and a maritime border with the Philippines and Vietnam. Kuala Lumpur is the national capital, the country's largest city, and the seat of the Parliament of Malaysia, legislative branch of the Government of Malaysia, federal government. The nearby Planned community#Planned capitals, planned capital of Putrajaya is the administrative capital, which represents the seat of both the Government of Malaysia#Executive, executive branch (the Cabine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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