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Discuss how foreign trade zones (FTZ) can improve on the advantages gained from worldwide sourcing. Next find the FTZ closest to you.
Purchasing and Supply Chain Manage...
Purchasing and Supply Chain Manage...
Discuss how foreign trade zones (FTZ) can improve on the advantages gained from worldwide sourcing. Next find the FTZ closest to you.
To explain: The way foreign trade zones can improve the advantages gained from worldwide sourcing.
Worldwide sourcing:
It is the seeking of goods and services beyond the borders of a region. It the process where organizations look for the most cost-efficient place globally to manufacture their goods. Most organizations choose a global sourcing strategy as the costs are usually lower abroad.
Explanation of Solution
A foreign trade zone (FTZ) is a designated area in a country where the commercial and domestic merchandise is treated in a fair manner in terms of its customs duty. A foreign trade zone can improve the advantage of global sourcing as shown below:
- They are useful in deferring, reducing and sometimes eliminating certain duties.
- It allows entities to get relief from inverted tariffs...
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