Low-cost country sourcing

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Low-cost country sourcing has emerged as a significant topic in purchasing and supply management, particularly among practitioners, yet it remains underexplored in academia due to its complexity. While companies have engaged in global sourcing for decades to cut costs, recent years have seen a surge in interest as this concept becomes integral to sourcing strategies. This increased focus is vital, especially given that purchasing and supply management has historically lagged behind disciplines like finance and marketing, with many universities lacking dedicated faculties in this area. The Supply Management Institute's initiative to create a global research and training network has attracted both scholars and practitioners, addressing the need for more structured knowledge in the field. Additionally, globalization has made the discipline more intricate, as business networks become more interconnected and the flow of goods, services, money, and human capital expands rapidly. To navigate these challenges, companies require comprehensive knowledge and information to develop effective strategies that secure supply, mitigate risk, and ultimately achieve a competitive edge.