LCCS (Low Cost Country Sourcing)

Low Cost Country Sourcing (LCCS) is a procurement strategy used by businesses to source materials and services at the most cost-efficient prices. This often means looking beyond domestic markets, as emerging economies in certain countries can offer more competitive rates and greater savings on costs. By leveraging its global network of suppliers, a business using LCCS can secure a higher degree of cost efficiency, while ensuring that the quality of products and services are not compromised.