Outsourcing industry is growing rapidly as more and more companies are realizing the benefits of outsourcing. Initially it was limited to non-core business areas like data management, surveys, administration, and customer service and so on. Now many companies have started outsourcing their procurement jobs, primarily in the non-core items like common raw materials for production, office stationary etc.
Recent survey report on 150 outsourcing companies in US shows that nearly half of them are either outsourcing or planning to outsource procurement jobs. Sources also believe that procurement outsourcing will continue to grow by 15% in a year.
What is Procurement outsourcing?
It is the outsourcing of procurement activities to third party on mutually agreed terms to ensure flawless supply of direct or indirect materials. Many companies, who are spending lots of time and money in keeping the supply chain of materials uninterrupted, can now seek the services of procurement outsourcing companies. The bulk contracts for procurement outsourcing can also help outsourcing companies to quote the most competitive price to their clients.
Procurement outsourcing...
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