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The term outsourcing, which came from the phrase outside resourcing, originated no later than 1981 at a time when industrial jobs in the United States were being moved overseas, contributing to the economic and cultural collapse of small, industrial towns. [4] [5] [6] In some contexts, the term smartsourcing is also used. [7]
The term nearshoring derives from offshoring. When combined with outsourcing, nearshore outsourcing, the nearshore workers are not employees of the company for which the work is performed. Nearshoring can involve business strategy to locate operations close to where product is sold.
Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a second-party service provider. Originally, this was associated with manufacturing firms, such as Coca-Cola that outsourced large segments of its supply chain .
Outsourcing may involve a subset of an operation's logistics, leaving some products or operating steps untouched because the in-house logistics is able to do the work better or cheaper than an external provider. [6] Another important point is the customer orientation of the 3PL provider.
Knowledge process outsourcing (KPO) describes the outsourcing of core information-related business activities [1] which are competitively important or form an integral part of a company's value chain. [2] KPO requires advanced analytical and technical skills as well as a high degree of specialist expertise. [3] [4]
Required Outsourcing – This form of outsourcing occurs when the firm mandates a certain level of outsourcing in the legal process, either to reduce costs or to fulfill statutory requirements. Multi-sourcing – This involves segregating the work assigned to LPO providers in order to reduce risk and take advantage of each provider's strengths.
Longer term, excluding the impact of foreign exchange rate and considering our global manufacturing footprint expansion plans, we continue to forecast a long-term gross margin of 53% and higher is ...
Online outsourcing is the business process of contracting third-party providers, which can be overseas, to supply products or services which are delivered and paid for via the Internet. Internet-based outsourcing