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procurement is the act of buying and aquring goods and services from an external source.
there are variouse reasons why organizations outsource.
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
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
Outsourcing and offshoring also enable companies to tap in to and leverage a global knowledge base, having access to world class capabilities
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
Many times stranded with internal resource crunches, many world class enterprises outsource to gain access to resources not available internally
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Oct 10th, 2015
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