Supply Chain Management Professional (SCMP) · Question
Which term describes the process of contracting out a business function to a third-party provider, often abroad?
Offshoring involves relocating a business process or portion of a company's operations to another country, typically to reduce costs. It is a common sourcing st
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Question: Which term describes the process of contracting out a business function to a third-party provider, often abroad?
Answer options:
- Insourcing
- Reshoring ✅ Offshoring
- Nearshoring
Correct answer: Offshoring
Explanation: Offshoring involves relocating a business process or portion of a company's operations to another country, typically to reduce costs. It is a common sourcing strategy.
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