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outsourcing
(redirected from Labor arbitrage)

    Also found in: Legal, Financial, Encyclopedia, Wikipedia 0.04 sec.

outsourcing

Situation where an organization passes the provision of a service, or other task previously undertaken in-house, to an external third party for them to perform on behalf of the original organization.

The US entrepreneur Ross Perot is credited, among others, with creating the modern outsourcing industry in the 1960s. Outsourcing arises from the realization that no organization can excel at everything. Activities that are not associated with the core competencies of a company are best left to specialist companies. An outsourcing agreement allows the provider company to supply a customer with services or processes that the company is currently sourcing in-house and this removes the need for that company to keep non-core skills and capacity.



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? Mentioned in ? References in periodicals archive
 
More often than not, the business case for business-process outsourcing is built almost exclusively on expense reduction through labor arbitrage.
A new beginning: claims outsourcing can fulfill its promise to the ... by Costonis, Michael / Best's Review
We're really all about a labor arbitrage play," said Cadforce President and Chief Executive Robert Vanech.
India link: Cadforce has used 'blendshoring' to combine foreign labor ... by Fine, Howard / Los Angeles Business Journal
Suppliers that fail to fully exploit the labor arbitrage of low-cost labor markets, as well as new technologies, will become the dinosaurs in this new era of high-value outsourcing," Bendor-Samuel added.
Outsourcing; Study: more using specialized contracts by Heffes, Ellen M. / Financial Executive
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