Outsourcing

Outsourcing is a practice in which an individual or company performs tasks, provide services on manufacturers products for another company – functions that could have been or is typically done in-house, but the outsource may have better skills, insights and see the development of the product or service from a different but value-adding perspective. It is typically used by companies to save costs, thereby freeing up cash, personnel, time, and facilities for activities in which a company holds competitive advantage.