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Offshore outsourcing – combines outsourcing and offshoring; is the practice of hiring an external organization that is in another country to perform a business function. [ 142 ] In-housing – hiring employees [ 217 ] [ 218 ] or using existing employees/resources to undo an outsourcing.
Therefore, offshoring should not be confused with outsourcing which does imply one company relying on another. 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 .
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]
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.
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.
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 ...
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 .
Offshoring, according to the ORN, refers to the process of sourcing business functions or processes supporting home-based or global operations from a foreign country, either through wholly owned organizational units (captive offshoring/shared services) or external service providers (offshore outsourcing).