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Feb 26, 2024 · What Is Outsourcing? Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that were traditionally...
noun [ U ] PRODUCTION, HR, WORKPLACE uk / ˈaʊtˌsɔːsɪŋ / us. Add to word list. 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.
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.
Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally, [1] [2] or in-house. [3] Outsourcing sometimes involves transferring employees and assets from one firm to another.
Home. IT applications, infrastructure and operations. Definition. outsourcing. By. Ben Lutkevich, Site Editor. What is outsourcing? Outsourcing is a business practice in which a company hires a third party to perform tasks, handle operations or provide services for the company.
Outsourcing is a business practice in which services or job functions are hired out to a third party on a contract or ongoing basis.
5 days ago · 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. Derived forms. outsourcer (ˈoutˌsourcer) noun. Word Frequency. outsource in American English. (ˈaʊtˌsɔrs ) verb transitive Word forms: ˈoutˌsourced or ˈoutˌsourcing.
