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The term outsourcing, which came from the phrase outside resourcing, originated no later than 1981 at a time when industrial jobs in the United States were being moved overseas, contributing to the economic and cultural collapse of small, industrial towns. [4] [5] [6] In some contexts, the term smartsourcing is also used. [7]
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" Analysis on the Global Economy. Council on Foreign Relations. "IIGG Interactive Guide to Global Finance" International Economics: The Great Outsourcing Shift. "The essential guide to understanding why domestic companies will soon change their outsourcing focus from China to Mexico. Archived 2013-05-22 at the Wayback Machine
Global sourcing is often associated with a centralized procurement strategy for a multinational, wherein a central buying organization seeks economies of scale through corporate-wide standardization and benchmarking. A definition focused on this aspect of global sourcing is: "proactively integrating and coordinating common items and materials ...
Customer Support Outsourcing (CSO) involves delegating customer service functions to offshore call centres or service providers to handle inquiries, complaints, and assistance. Recruitment Process Outsourcing (RPO) is a workforce solution in which a business transfers all or part of its recruitment to an external provider.
[1] By 2004, he had developed his views on the topic, referring to reductions in manufacturing in the United States, outsourcing to India and China, excess of supply and the global marketplace, all leading to the increasing conceptualization of economic output. [2] Alan Greenspan, chairman of the Board of Governors of the Federal Reserve, 1987-2006
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 ...
However, the global financial crisis, coupled with domestic economic problems such as the IPO of Reliance Power in 2009, caused people to re-evaluate these predictions, incurring worries that India's IT, BPO, and KPO sectors — which by then, combined, were $8.4 billion in export revenues — would be greatly affected by these factors. [14]