Outsourcing

Outsourcing,

Definition of Outsourcing:

  1. Outsourcing was first recognized as a business strategy in 1989 and became an integral part of business economics throughout the 1990s. The practice of outsourcing is subject to considerable controversy in many countries. Those opposed argue that it has caused the loss of domestic jobs, particularly in the manufacturing sector. Supporters say it creates an incentive for businesses and companies to allocate resources where they are most effective, and that outsourcing helps maintain the nature of free-market economies on a global scale.

  2. The contracting or subcontracting of noncore activities to free up cash, personnel, time, and facilities for activities in which a company holds competitive advantage. Companies having strengths in other areas may contract out data processing, legal, manufacturing, marketing, payroll accounting, or other aspects of their businesses to concentrate on what they do best and thus reduce average unit cost. Outsourcing is often an integral part of downsizing or reengineering. Also called contracting out.

  3. Obtain (goods or a service) by contract from an outside supplier.

  4. Outsourcing is the business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company's own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost-cutting measure. As such, it can affect a wide range of jobs, ranging from customer support to manufacturing to the back office.

Synonyms of Outsourcing

Temporary, Part-time, Impermanent, Freelance

How to use Outsourcing in a sentence?

  1. Outsourcing is also used by companies to dial down and focus on the core aspects of the business, spinning off the less critical operations to outside organizations.
  2. To the chagrin of many older Americans, many US based companies are now outsourcing their production to countries in the third world which means that it is becoming ever difficult to buy American made products.
  3. There can be no question of outsourcing components from other countries.
  4. The radiology department started outsourcing all of their jobs, which really angered the union and all of the doctors who had previously worked for them.
  5. By outsourcing all of their customer service jobs to India, the company was able to cut back on payroll costs and use some of the saved money to increase the marketing budget.
  6. On the downside, communication between the company and outside providers can be hard, and security threats can amp up when multiple parties can access sensitive data.
  7. Companies use outsourcing to cut labor costs, including salaries for its personnel, overhead, equipment, and technology.

Meaning of Outsourcing & Outsourcing Definition

Outsourcing,

How Do You Define Outsourcing?

  • The definition of Outsourcing is: Outsourcing is a commercial process of hiring third parties outside the company to manufacture and manufacture goods manufactured by the company's employees and employees. Outsourcing is an exercise that most companies do as a cost-cutting measure. As such, it can affect a wide range of jobs, from customer support to manufacturing and management offices.

    • Companies use outsourcing to reduce labor costs, including wages, overhead, equipment and technology.
    • Companies also use outsourcing to focus on the basics of business and to transfer less important operations to outside organizations.
    • However, communication between companies and third-party vendors can be difficult, and security risks can increase when multiple parties have access to sensitive data.

  • An agreement by which a company typically manufactures products in the same country or provides services to another company.

  • Outsourcing can be defined as, The practice of outsourcing certain tasks to a company may be transferred to companies or individuals, rather than being managed by internal departments or employees.

  • Steps or examples of purchasing material products or services from another company.

Meanings of Outsourcing

  1. Receiving (goods or services) under contract with external suppliers.

Sentences of Outsourcing

  1. There is no possibility of outsourcing components from other countries

Outsourcing,

Outsourcing Meanings:

  1. Definition of Outsourcing: Outsourcing is the business process of providing services and manufacturing goods to a third party outside the company that the company's employees and employees traditionally export. Outsourcing is a process that companies often use to reduce costs. As such, it can affect a wide range of tasks, from customer support to manufacturing and back office.

    • Companies use outsourcing to reduce costs, including salaries, overheads, equipment and technology.
    • Companies use outsourcing to focus on business needs and move less important operations off-site.
    • On the other hand, communication between the company and external vendors can be difficult and security risks can increase when multiple parties have access to sensitive data.

  2. Definition of Outsourcing: An agreement under which one company provides goods or services to another company, usually in the same country.

Meanings of Outsourcing

  1. Get a contract (product or service) from an external supplier.

Sentences of Outsourcing

  1. Components cannot be shipped to other countries.

Outsourcing,

Outsourcing:

Outsourcing is the business process of contracting with parties outside the company to provide services or manufacture goods that are traditionally provided by the company's employees and employees. Outsourcing is a process that companies often use as a cost-cutting measure. As such, it can affect a wide range of tasks, from customer support to manufacturing and back office.

  • Companies use outsourcing to reduce costs, including payroll, overheads, equipment and technology.
  • Companies also use outsourcing to focus on the core part of the business and offload the less important process to outside parties.
  • On the other hand, communication between companies and third-party vendors can be difficult, and security risks can increase when multiple parties have access to sensitive data.