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Home > Terms > English, UK (UE) > Outsourcing
Outsourcing
The ongoing use of an external third party instead of an internal resource which may include production of a single operation, a product or an entire line, shipping and order fulfillment, product design, network infrastructure support or many other functions. Outsourced functions are normally outside an organization's core competencies and are done to reduce cost, reduce lead time, improve quality or achieve some other stated goal.
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- Part of Speech: noun
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- Industry/Domain: Software
- Category: Supply chain
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