Guidelines for Low Cost Country Sourcing
By http://www.dragonsourcing.com/
What is Low Cost Country Sourcing ?
Low cost country sourcing are used in order to lower the cost. Low cost countries have access to cheap raw materials. Also the labor costs is very low.
Low Cost Country Sourcing Guide
Risks needs to be managed. Quality is Vital . Cultures are different
Risks needs to be managed
Risk of failure is the main risk. It may result to the failure of supplier process,bankruptcy,political disruption or climatic disaster. One way to address this is through the form of hedging.
Quality is Vital
Quality must be maintained while making the price of the goods lower. It is very much needed to visit the suppliers before you contract them. Make yourself assure that the supplier has people, system and process.
Cultures are different
Culture is often defined as the way we do things. Business culture is different . So you need to adjust with business culture.
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