Question

__________ occurs when a company contracts with suppliers in other countries to make the various inputs that go into its products or to assemble the final products to reduce costs.

Answer 1

Global outsourcing occurs when a company contracts with suppliers in other countries to make the various inputs or components that go into its products or to assemble the final products to reduce costs.

Global outsourcing is when a company outsources a third party outside of their country to handle operations or provide services to the company.

Benefits of Global Outsourcing include;

Cost saving. Since some countries have a lower cost economy, the day-to-day tasks can be completely at a low cost. Hiring new staff or employees is also an expensive process. Therefore, Global outsourcing becomes a priority in this case.

Improved quality and staff satisfaction. Global outsourcing allows the company to allocate time-consuming and repetitive tasks to an outsourced employee instead of the local team. That way, the local team can focus on what they do best and what motivates them, while your outsourced team appreciates the opportunity to support the business.

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