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Global sourcing is the practice of sourcing from the global market for goods and services across geopolitical boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor, low cost raw material, extreme international competition, new technology ...
Sustainable sourcing finds its roots in the concept of Corporate Social Responsibility (CSR), which gained popularity in the United States in the 1970s and internationally in the 1990s. CSR has evolved over time from a philanthropy-based strategy for responding to consumer concerns, to a decision-making process that takes into consideration the ...
Supply-chain sustainability is the management of environmental, social and economic impacts and the encouragement of good governance practices, throughout the lifecycles of goods and services. [1] There is a growing need for integrating sustainable choices into supply-chain management. An increasing concern for sustainability is transforming ...
Global value chain. A global value chain ( GVC) refers to the full range of activities that economic actors engage in to bring a product to market. [ 1] The global value chain does not only involve production processes, but preproduction (such as design) and postproduction processes (such as marketing and distribution). [ 1]
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 opportunities of price reduction between geographies. Aside from price other reasons for engaging in global sourcing can ...
In commerce, global supply-chain management is defined as the distribution of goods and services throughout a trans-national companies' global network to maximize profit and minimize waste. [1] Essentially, global supply chain -management is the same as supply-chain management, but it focuses on companies and organizations that are trans-national.
Sustainable procurement or green procurement is a process whereby organizations meet their needs for goods, services, works and utilities in a way that achieves value for money on a life-cycle basis while addressing equity principles for sustainable development, therefore benefiting societies and the environment across time and geographies. [1]
A sustainable business is one that participates in environmentally friendly or green activities to ensure that all processes, products, and manufacturing activities adequately address current environmental concerns while maintaining a profit. In other words, it is a business that “meets the needs of the present [world] without compromising ...