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Outsourcing
The process of subcontracting a process, such as product design or manufacturing, to a third-party company. Outsourcing to EMS providers has traditionally appealed to makers of computers, telecommunications hardware and other electronic items. However, outsourcing also is becoming a cost-effective option for manufacturers of fibre optic components and medical devices. Many companies outsource older, more stable product lines so they can focus operations on newer, more technically complex products with higher profit margins. Also see "contract manufacturing" and "electronics manufacturing services."
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Manufacturing
- Category: Contract manufacturing
- Company:
- Product:
- Acronym-Abbreviation:
Other Languages:
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