Quick Technology Company is a supplier of high-end research equipment for the pharmaceutical industry. Quick currently has a variety of different firms producing computer chips for increased memory and improved processing speeds which are installed in Quick's equipment. In this case, having another firm provide supplies for Quick's equipment is an example of:

Question

Quizplus · Accepted Answer

Outsourcing refers to the process of obtaining goods or services from an outside or foreign supplier, and in this case, Quick is outsourcing the production of computer chips to different firms. This allows Quick to focus on its core competencies while leveraging the expertise of specialized suppliers.

Quick Technology Company Is a Supplier of High-End Research Equipment