A foreign-trade zone is considered to be outside of the country’s borders for the purposes of importing and exporting. As described on the Port of New Hampshire’s Web site, “Foreign-Trade Zones are areas, designated by the U.S. Department of Commerce … Continued
Several years ago, it was almost fashionable to outsource to low-wage areas of the world to reduce costs. Business leaders developed the mind-set of “off shoring is always cheaper:’ and they scarcely looked beyond unit cost plus transportation.
When a company needs parts and materials, a purchasing or sourcing function will find an appropriate source, negotiate cost and terms, and administer the transactions to complete the procurement. In recent years, a lot of that purchasing activity has gone … Continued