Undertaking value-added activities that were once outsourced to suppliers is known as ________.

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Backward integration refers to the process of a company undertaking value-added activities that were previously outsourced to suppliers. This may involve the company taking control of its supply chain and producing raw materials or components in-house, rather than relying on external suppliers. This can help to increase efficiency, reduce costs, and improve quality control. Product development, forward integration, and diversification are all different strategies that do not specifically involve bringing previously outsourced activities in-house.

Undertaking Value-Added Activities That Were Once Outsourced to Suppliers Is