Low Cost Country Sourcing (LCCS) is an official business strategy that involves sourcing goods and services from countries with lower labor and production costs than those of the company’s home country. This strategy is often used to reduce costs and increase profits. It can also be used to gain access to new markets, new technologies, and new resources. By taking advantage of the lower costs of production and labor in other countries, companies can increase their competitive advantage and become more profitable. Additionally, companies can benefit from increased access to new markets, new technologies, and new resources. Low Cost Country Sourcing can also help companies to become more competitive in their respective industries. By sourcing goods and services from countries with lower labor and production costs, companies can increase their competitive advantage and become more profitable.
