Trix International is a furniture company. It procures raw material from Africa, hires artisans from India, and sells the finished products all over the world. Trix International is engaged in __________.

Question

Quizplus · Accepted Answer

Trix International is engaged in global sourcing, which involves procuring goods and services from different countries to take advantage of the benefits of differences in cost, quality, expertise, and other factors. In this case, Trix International sources raw material from Africa and hires artisans from India to manufacture furniture that it sells in different parts of the world. This strategy allows the company to access the best inputs at the most competitive prices and leverage the comparative advantages of different regions. In contrast, inshoring refers to bringing jobs and production back to the home country, while reshoring involves relocating jobs and production from offshore to onshore locations. Job migration refers to the movement of workers from one place to another for employment opportunities.

Trix International Is a Furniture Company