What is procurement. List five reasons why organizations outsource?

Management
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 What is procurement.List five reasons why organizations outsource? 

Oct 10th, 2015

Thank you for the opportunity to help you with your question!

procurement is the act of buying and aquring goods and services from an external source.

there are variouse reasons why organizations outsource.

  1. Lower operational and labor costs are among the primary reasons why companies choose to outsource. When properly executed it has a defining impact on a company's revenue recognition and can deliver significant savings
  2. Companies also choose to outsource or offshore so that they may continue focusing on their core business processes while delegating mundane time consuming processes to external agencies
  3. Outsourcing and offshoring also enable companies to tap in to and leverage a global knowledge base, having access to world class capabilities
  4. Freeing up internal resources that could be put in to effective use for other purposes is also one of the primary benefits realized when companies outsource or offshore
  5. Many times stranded with internal resource crunches, many world class enterprises outsource to gain access to resources not available internally

Please let me know if you need any clarification. I'm always happy to answer your questions.
Oct 10th, 2015

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