Practice 22 Flashcards

1
Q

Offshoring

A

manufacturing outside its home market anywhere in the world based on cost-efficiency (ex. Apple’s manufacturing facilities in Ireland and Singapore)

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2
Q

Nearshoring

A

manufacturing outside its home market but regionally close / more favorable market access (ex. GM/Auto factories in Mexico servicing US market)

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3
Q

Reshoring / onshoring

A

manufacturing moving back to home country as a result of improved operational efficiency or legal / regulatory / trade constraints

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4
Q

why global sourcing

A
  • Reduce costs / increase competitiveness (cheap labour, laxer work rules, lower land and facility costs)
  • Improve quality of products / services
  • Gain access to exclusive raw materials (only available in other markets)
  • Increase exposure to worldwide technology
  • Improve delivery-of-supplies process
  • Establish presence in foreign market
  • Diversify supplier base (supplement domestic suppliers)
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5
Q
A
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