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What Is the Term for Contracting with Foreign Suppliers to Produce

question 131

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What is the term for contracting with foreign suppliers to produce products, usually at a fraction of the cost of domestic production?


Definitions:

Operational Excellence

A philosophy of the workplace where problem-solving, teamwork, and leadership results in the ongoing improvement in an organization.

Product Leadership

A competitive strategy focusing on developing and marketing superior products or services that offer unique features or capabilities.

Competitive Advantage Strategies

Plans and actions taken by a company to ensure it has a unique position in the market, outperforming competitors or offering unique value to customers.

Operational Excellence

The pursuit of conducting business in a manner that continuously improves performance and delivers value through efficient processes, innovation, and quality management.

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