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What is Outsourcing?

Please rate, support, and subscribe to our YouTube Channel. For more ISO-related videos and webinars please subscribe to our channel.    / tnvakademi   In This session we have discussed about Outsourcing. We have discussed about What is Outsourcing, Benefits Of Outsourcing, Risks Involved in outsourcing, Difference Between Outsourcing And Offshoring, Types of Outsourcing. “Outsourcing” Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company`s own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost- cutting measure. As such, it can affect a wide range of jobs, ranging from customer support to manufacturing to the back office. Outsourcing includes both foreign and domestic contracting, and sometimes includes offshoring that is relocating a business function to a distant country or nearshoring which means transferring a business process to a nearby country. Outsourcing and offshoring are two related, but different, concepts. Offshoring specifically refers to the relocation of a business process to a foreign country. If a third party handles operations in the foreign country, that is considered offshore outsourcing. Offshore outsourcing is fairly common in manufacturing or supporting processes, such as accounting, but not all offshoring involves outsourcing, and there are many ways to outsource without moving operations to a foreign country. Nearshore outsourcing refers to outsourcing in a nearby foreign country, such as when United States-based companies move their manufacturing operations to Mexico. #TNVAKADEMI#Outsourcing#ISOSTANDARD #ISOCERTIFICATION#ISOLEADAUDITOR#ISOKNOWLEDGE#ISOCOURSE#ISOFREECOURSE.