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Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally, or in-house. Outsourcing sometimes involves transferring employees and assets from one firm to another.
to get work done by making a contract with another company to do it, often in another country, rather than in your own company: The candidate talks about working-class issues, particularly about jobs being outsourced overseas. outsourcing. noun [ U ] us / ˈɑʊtˌsɔr·sɪŋ, -ˌsoʊr·sɪŋ /
The meaning of OUTSOURCE is to procure (something, such as some goods or services needed by a business or organization) from outside sources and especially from foreign or nonunion suppliers : to contract for work, jobs, etc., to be done by outside or foreign workers.
a situation in which a company employs another organization to do some of its work, rather than using its own employees to do it: E-commerce, globalization, and outsourcing are all changing the production and distribution of products and services.
Feb 26, 2024 · Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house...
Outsourcing is a business practice in which a company hires a third party to perform tasks, handle operations or provide services for the company.
verb [ I or T ] uk / ˈaʊt.sɔːs / us / ˈaʊt.sɔːrs / If a company outsources, it pays to have part of its work done by another company: Unions are fighting a plan by the university to outsource all non-academic services. Some companies outsource to cheaper locations to cut costs. SMART Vocabulary: related words and phrases. Applying for a job.
verb (used with object) , out·sourced, out·sourc·ing. (of a company or organization) to purchase (goods) or subcontract (services) from an outside supplier or source. Compare backsource. to contract out (jobs, services, etc.): a small business that outsources bookkeeping to an accounting firm.
1. to subcontract (work) to another company. 2. to buy in ( components for a product) rather than manufacture them. Collins English Dictionary. Copyright © HarperCollins Publishers.
Outsourcing is when a company hires a third party to perform their task; in other words, when a company employs another company to fulfilling its tasks, it is termed outsourcing. In 1989, it was first recognised as a business strategy, and later, in the 1990s, it became a fundamental part of the business.
