Outsourcing’s popularity on the rise
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Manufacturing News, Source : TheManufacturer.com
Published : 03 Apr 2003 22:47
Manufacturing has experienced a growing trend toward outsourcing over the past several years. The overall value of the largest 100 outsourcing contracts between 1997 and 2001 crested $228 billion, according to IDC’s latest survey entitled The Big Deal: Trends in Top 100 Outsourcing Contracts, 1997-2001.
The survey sites several reasons for the increase in outsourcing, including the need for companies to focus on core competencies, reallocate internal resources, and reduce or stabilize costs, and improve efficiencies in a highly competitive business environment.
“Looking to the future, spending on outsourcing services is expected to increase worldwide as companies contend with economic factors such as recession, globalization, privatization, deregulation, and technological innovation,” said Cynthia Doyle, program manager of IDC’s IT Outsourcing and Utility Services research program. “These factors increased competition in many industries and regions across the world.”
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