Outsourcing History and Concepts

The Economist states that outsourcing has 'made its presence felt since the time of the Second World War.'

Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally. The term originated no later than 1981.

Examples of business processes often outsourced include payroll processing, claims processing, operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support.

<p>Offshoring is relocating a business function to a distant country. Offshoring and outsourcing are not mutually inclusive; one can exist without the other, but they can be intertwined (offshore outsourcing).</p> Signup and view all the answers

<p>Methods of reversing offshoring and outsourcing include reshoring, inshoring, and insourcing. These methods can be individually or jointly, partially or completely reversed.</p> Signup and view all the answers