Businesses in every industry is feeling the pressure of escalating costs, fierce competition, and consumer demands. The local markets and traditional procurement approach is not as effective as it was. Focus is shifting towards a new strategy of going beyond the borders to capitalize on low cost country sourcing (LCCS). Enterprises from the developed nations purchase the raw material and finished goods from emerging nations like India.
Why India:
There are many ways the enterprises can benefits with low cost country sourcing India procurement deals.
Significant savings with high-quality services:
The costs in India is much lower than many of the other developing nations. The quality of materials and supplies is far superior.
Government initiatives:
India is developing at a brisk pace. The country is politically and economically stable. The government is encouraging foreign investments and has a liberal; import export policy.
Plenty of talent and resources:
Perhaps the biggest advantage of low cost country sourcing India is the flexible and affordable manpower. While you can save upto 30 to 50 % on skilled labor, the savings in unskilled labor can go upto 75 to 90 percent.
The risk factors:
LCCS has its own challenges and risks which could at times mitigate the savings you otherwise could make. The risk factors include defective products. transportations delays, import duties, and currency fluctuations.
Why India:
There are many ways the enterprises can benefits with low cost country sourcing India procurement deals.
Significant savings with high-quality services:
The costs in India is much lower than many of the other developing nations. The quality of materials and supplies is far superior.
Government initiatives:
India is developing at a brisk pace. The country is politically and economically stable. The government is encouraging foreign investments and has a liberal; import export policy.
Plenty of talent and resources:
Perhaps the biggest advantage of low cost country sourcing India is the flexible and affordable manpower. While you can save upto 30 to 50 % on skilled labor, the savings in unskilled labor can go upto 75 to 90 percent.
The risk factors:
LCCS has its own challenges and risks which could at times mitigate the savings you otherwise could make. The risk factors include defective products. transportations delays, import duties, and currency fluctuations.
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