Outsourcing Definition

Outsourcing can be defined as sourcing for products and/or services that either used to be done internally or can be done internally, from an external supplier or several external suppliers.

There are many variances of outsourcing. Some of the more popular variances include:

1. Strategic Outsourcing
2. Offshoring
3. Business Process Outsourcing

Regardless of the type of outsourcing, the basic idea remains the same, which is to source for products and/or services that either used to be done internally or can be done internally, from an external supplier or several external suppliers.