Outsourcing refers to the practice of buying from another company a good or a service that is part of a company's value-added activities.

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Outsourcing involves contracting out a non-core business function or process to another party, allowing a company to focus on the core aspects of their business. This can include goods or services that are part of a company's value-added activities, such as production or customer service.

Outsourcing Refers to the Practice of Buying from Another Company