Definition of Insourcing:
Insourcing is the assignment of a project to a person or department within a company rather than to a third party. Insourcing is the opposite of outsourcing.
Delegating a job to someone within a company, as opposed to someone outside of the company (outsourcing). One reason for insourcing to occur is if a company had previously outsourced a certain task, but was no longer satisfied with the work being done on that task, so the company could therefore insource the task and assign it to someone within the company who they believe will do a better job.
In practice, insourcing is used to describe a task or function that a company could have outsourced to a third party. As a rule, insourcing provides companies with more control over decision-making and the ability to move more quickly and precisely, especially if institutional knowledge factors into some elements of the job.
The practice of using an organizations own personnel or other resources to accomplish a task that was previously outsourced.
How to use Insourcing in a sentence?
- Insourcing keeps a project in the hands of employees who may understand the company and its products best.
- Outsourcing gives a company access to expertise that may not be in-house, and possibly a lower cost.
- I knew I would get the job in the company because we practiced insourcing and would not let outside people handle our stuff.
- Since the 1990s, U.S. companies have outsourced more than insourced in order to take advantage of lower labor costs abroad.
- The insourcing engaged in by management was consistently proven to not be a problem as the employees had many skills.
- You need to have a good insourcing route coming in so that you always know you can get your hands on what you need.
- But it has added a twist to the offshore bandwagon - by insourcing, rather than outsourcing, the work.
Meaning of Insourcing & Insourcing Definition