SIG University Certified Sourcing Professional (CSP) program graduate Jigar Mistry shares the potential benefits and opportunities that can arise from outsourcing.
At the current time, it is challenging to find an organization that performs all its core and non-core business in-house. Outsourcing business activities became standard across industries irrespective of their size or work area.
There is a high chance that was answering services of any banking, insurance, technology, and an external organization handles many more. Most large-scale construction of tunnels, bridges, or roads for public or private players is dealt with by contractors who are masters of their field. Even research and development activities of automobile companies or even defense sectors have adopted outsourcing for their critical tasks.
We will look into the nature of outsourcing projects in terms of relations management, the advantages/ disadvantages of outsourcing, and best practices for collaboration.
Jigar Mistry, Senior Supply Chain Specialist, CDK Global