The practice of using outside vendors to provide goods and services that were formerly produced in-house is known as _____.

Question

Quizplus · Accepted Answer

The practice of using outside vendors to provide goods and services that were formerly produced in-house is known as outsourcing. It involves contracting with another company to perform a business function or process that the organization previously performed internally. This can be done to reduce costs, improve efficiency, or access specialized expertise or technology.

The Practice of Using Outside Vendors to Provide Goods and Services