What Is Outsourcing
Hi everyone posting this new and fresh article on Outsourcing.
What is Outsourcing?
Outsourcing - A company purchases a product or process from an outside supplier rather than producing it in house.
Outsourcing is subcontracting a service, such as product design or manufacturing, to a third-party company.
Outsourcing became part of the business lexicon during the 1980s.
Note - Subcontracting - A company contracts an outside supplier to produce a product or process to the company specifications.The manufacturing process is controlled and owned by the company
In clear text...
Outsourcing = Subcontracting
Generally outsourcing can be defined as - An organization entering into a contract with another organization to operate and manage one or more of its business processes.
The decision whether to outsource or to do inhouse is often based upon achieving a lower production cost, making better use of available resources, focusing energy on the core competencies of a particular business, or just making more efficient use of labor, capital, information technology or land resources. It is essentially a division of labor.
Reasons for Outsourcing
1. Cost savings
2. Focus on Core Business
3. Improve quality
4. Knowledge
5. Contract
6. Operational expertise
7. Access to talent
8. Capacity management
9. Catalyst for change
10.Enhance capacity for innovation
11.Reduce time to market
12.Risk management
13.Tax Benefit
Outsourcing to India…Beyond Information Technology
Clinical Trials
Medical Transcription
Legal Services
Laboratory Services
Contract Research
Lab outsourcing
Conducting quality control
Testing or other analytical services associated for an industrial site, such as a chemical plant, refinery, consumer product, corporate research & technical center, medical, food processor or other business.
Why India
India is the most preferred outsourcing destination
Cheap Labour
Skilled Workers
Workers are paid peanuts
What is Outsourcing?
Outsourcing - A company purchases a product or process from an outside supplier rather than producing it in house.
Outsourcing is subcontracting a service, such as product design or manufacturing, to a third-party company.
Outsourcing became part of the business lexicon during the 1980s.
Note - Subcontracting - A company contracts an outside supplier to produce a product or process to the company specifications.The manufacturing process is controlled and owned by the company
In clear text...
Outsourcing = Subcontracting
Generally outsourcing can be defined as - An organization entering into a contract with another organization to operate and manage one or more of its business processes.
The decision whether to outsource or to do inhouse is often based upon achieving a lower production cost, making better use of available resources, focusing energy on the core competencies of a particular business, or just making more efficient use of labor, capital, information technology or land resources. It is essentially a division of labor.
Reasons for Outsourcing
1. Cost savings
2. Focus on Core Business
3. Improve quality
4. Knowledge
5. Contract
6. Operational expertise
7. Access to talent
8. Capacity management
9. Catalyst for change
10.Enhance capacity for innovation
11.Reduce time to market
12.Risk management
13.Tax Benefit
Outsourcing to India…Beyond Information Technology
Clinical Trials
Medical Transcription
Legal Services
Laboratory Services
Contract Research
Lab outsourcing
Conducting quality control
Testing or other analytical services associated for an industrial site, such as a chemical plant, refinery, consumer product, corporate research & technical center, medical, food processor or other business.
Why India
India is the most preferred outsourcing destination
Cheap Labour
Skilled Workers
Workers are paid peanuts