Outsourcing - The transfer of responsibility for operating an organization's activities, processes, or functions to an external service provider, usually involving the transfer of people, assets or systems.
Business Process Outsourcing (BPO)- A form of outsourcing that involves contacting of the operations and responsibilities of specific business functions or processes to a third party service.
Knowledge Process Outsourcing (KPO) - a form of outsourcing in which knowledge-related and information related work is carried out by workers in a different company, or by a subsidiary of the same organization.
Off-shoring - The transfer of activities, processes or functions to facilities in a low cost country, which may be owned by the organization or an external service provider.
Near-shoring - Same as off-shoring, just closer usually lower risk.
In-shoring - The opposite of off-shoring, in-shoring still seeks to make cost savings through looking at different, but domestically rather than a separate country.
Multi-sourcing - Outsourcing towards third party providers.
Shared Services - The bringing together of support activities, usually through centralization, into a customer oriented entity which provides services to the organization.
Captive Service - BPO, where an organisation will usually wholly owned subsidiary rather than a third-party vendor.
Core activities - Essential services that differentiate an organization lead to profit generation and where investment is focused.
Non-core - Activities that could be sourced internally or through a third party service provider.
Home-shoring - The transfer of service industry employment from offices to home based employees with appropriate phone/internet services.
Best-shoring - The best location for a company to move its manufacturing IT or business process.
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