In business, outsourcing is the contracting out of a business process to a third-party. The term `outsourcing` became popular in the United States near the turn of the 21st century. Outsourcing sometimes involves transferring employees and assets from one firm to another, but not always. Outsourcing is also used to describe the practice of handi.....
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The contracting out of work that was previously done within an organisation to an external provider....
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Subcontracting a certain business operation to an outside firm instead of doing it in house.
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1. Performance outside a firm or plant of a production activity that was previously done inside. 2. Manufacture of inputs to a production process, or a part of a process, in another location, especially in another country. 3. Another term for fragmentation.
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work arrangement made by an employer who hires an outside contractor to perform work that could be done by company personnel. Outsourcing has been a ... [9 related articles]
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Contracting some or all call centre services to an outside company.
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Purchasing a significant percentage of intermediate components from outside suppliers.
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The practice of purchasing a significant percentage of intermediate components from outside suppliers.
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Outsourcing:
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Organisation pays to have some of its work done by another organisation.
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Purchasing a significant percentage of intermediate components from outside suppliers.
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A contractual agreement between an employer and an external third-party provider whereby the employe
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An arrangement in which a company produces goods or provides services for another company, usually in the same country
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The concept of handing over part of one`s business to a third party vendor so that they take responsibility for it. The reason for doing this is that the vendor is likely to be able to do it cheaper and perhaps even better. The outsourcing of IT services is popular. See Off Shoring and Near Shoring.
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The process of utilizing non-employees to perform manufacturing, carrier and warehousing functions. See 3PL.
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Awarding a contract to a private, public or voluntary sector organisation to supply a service previously run by a public sector body such as a council or hospital.
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Within the past several years, a number of government labs as well as private and joint venture CRO
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(ITIL Service Strategy) Using an external service provider to manage IT services. See also service sourcing.
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the buying of parts of a product to be assembled elsewhere, as in purchasing cheap foreign parts rather than manufacturing them at home.
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https://www.infoplease.com/dictionary/outsourcing
utsourcing in managerial accounting is the decision to buy a product or pay someone to make it for you instead of making the product for yourself. This is usually considered when purchasing the product or labor to build the product is cheaper or more cost effective than manufacturing it in-house.
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