Insourcing vs. Outsourcing

Insourcingnoun

The obtaining of goods or services using existing in-house resources or employees

Insourcingnoun

The obtaining of goods or services using domestic resources or employees as opposed to foreign

Outsourcingnoun

The transfer of a business function to an external service provider.

Outsourcing

Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity that is or could be done internally and sometimes involves transferring employees and assets from one firm to another. The term outsourcing, which came from the phrase outside resourcing, originated no later than 1981.