Chapter 6, Problem 24QA

Summary Introduction

To discuss: The concept of single sourcing, multiple sourcing and outsourcing.

Introduction:

In simple word outsourcemeans obtaining (the goods or a service) by a contract from an outside supplier.

Outsourcing is regarded as an agreement in which a company hires another company to be responsible for an activity that could be done internally, and many a times it involves transferring the assets and the employees from one firm to another.