Business
outsourcing
noun
Definition
Obtaining goods or services from an outside supplier instead of producing them internally.
In a sentence
“Many technology firms rely on outsourcing to reduce operational costs.”
Synonyms
contracting outoffshoringdelegation
Common collocations
- outsource production
- IT outsourcing
- offshore outsourcing
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globalisation
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The process by which businesses develop international influence or operate on an international scale.
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noun
Income generated by a business from its normal business activities.
supply chain
noun
The network of organisations involved in producing and delivering a product to the consumer.