Outsourcing

Outsourcing refers to the practice of delegating certain business functions or processes to external companies or service providers, as a strategy to reduce costs, focus on core activities, or take advantage of specialized expertise.

This practice can encompass everything from manufacturing to customer service and IT management. .

Outsourcing meaning with examples

• A growing number of companies are outsourcing their IT support to specialized firms, allowing them to focus on core business functions while ensuring that technical issues are handled promptly and efficiently.
• Due to high operational costs, the organization decided to outsource its customer service operations to a dedicated call center, enabling them to improve service quality and reduce expenses simultaneously.
• In an attempt to streamline production and foster innovation, the tech giant opted for outsourcing its logistics and supply chain management, resulting in a significant increase in efficiency and reduced turnaround times.
• As a strategic move, the fashion retailer announced its decision to outsource its marketing campaigns to a top-tier agency, believing that the agency’s expertise would enhance brand visibility and customer engagement.

Outsourcing Synonyms

affiliation assignment business process outsourcing business re-engineering collaboration contract management contracting delegating externalization offshoring outsourcing management partnership procurement resource sharing service procurement shared services sourcing subcontracting third-party service vendor management

Outsourcing Antonyms

autonomous management centralized operations direct control domestic handling home production independent operation in-house production insourcing internal management local services localization localized production management native handling native sourcing overseeing retaining self-management self-sourcing self-sufficiency