Outsourcing Definitions

  • D

    digital labor

    Digital labor is work performed by robotic automation technology.

  • I

    IT outsourcing strategy

    An IT outsourcing strategy is a plan derived from assessing which IT functions are better performed by an IT outsourcing service provider than by an organization's internal IT department.

  • L

    labor arbitrage

    Labor arbitrage is the practice of making use of the least costly labor for producing products or goods.

  • M

    multisourcing (multi-sourcing)

    Multisourcing (multi-sourcing) is an outsourcing approach, most frequently employed by large enterprises, whereby IT operations and technology infrastructure are contracted to a series of vendors, rather than kept in-house or contracted to a select few providers.

  • O

    outsourcing

    Outsourcing is a business practice in which a company hires another company or an individual to perform tasks, handle operations or provide services that are either usually executed or had previously been done by the company's own employees.

  • R

    reshoring

    Reshoring is the practice of bringing outsourced personnel and services back to the location from which they were originally offshored. 

  • rightsourcing

    Rightsourcing is selecting the best way to procure a service and deciding whether a company is best served by performing a business requirement in-house (insourcing) or contracting it out to a third-part service provider (outsourcing).  Rightsourcing literally means "choosing the correct source."

  • S

    selective outsourcing

    Selective outsourcing is a targeted sourcing strategy that relies upon sending very specific functions and work off-premises while keeping other functions on-premises.

  • U

    unsourcing

    Unsourcing is the transfer of an organization's customer service and support functions from paid employees to unpaid or low-paid online communities.

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