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If the offshore workplace is a foreign subsidiary, owned by the company, then the offshore operation is a § captive, [215] sometimes referred to as in-house offshore. [216] Offshore outsourcing – combines outsourcing and offshoring; is the practice of hiring an external organization that is in another country to perform a business function ...
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.
In practice, the concepts can be intertwined, i.e offshore outsourcing, and can be individually or jointly, partially or completely reversed, as described by terms such as reshoring, inshoring, and insourcing. In-house offshoring is when the offshored work is done by means of an internal (captive) delivery model. [2] [3]
Offshoring as a service (OaaS) is a business model in which the offshore office is not owned by the entity itself, instead it is outsourced to a vendor. The concept of offshoring is not new; however, in the past, some companies have tried to open their own offshore offices.
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 relationship management linking to external service providers; In his 2004 book "The Outsourcing Revolution", [2] author Michael Corbett discusses the challenges of integrating two separate business entities (the client and the external service provider) across the different organizational boundaries and differing motivations and ...
Offshoring is a variant of outsourcing, respective tasks can be offshored by situating them in another country. This could be both a business task or indeed an entire business process. Nearshoring is a variant of offshoring. Tasks are not relocated to a country that is very far afield on another continent.
Nearshoring is the outsourcing of business processes, especially information technology processes, to companies in a nearby country, often sharing a border with the target country. [1] Both parties expect to benefit from one or more of the following dimensions of proximity: geographic, temporal (time zone), cultural, social, linguistic ...