Management strategies for the implementation of global business outsourcing trends

Abstract

The first chapter “Analytical literature review” give the idea of outsourcing as a very successful and growing popular business strategy. The authors seek to present outsourcing as a highly successful competitive tool and as a way to strengthen their position in the protective clothing market, especially in the face of increasing competitive pressures and ongoing globalization. This white paper the main purpose of is to analyse outsourcing trends over the past decade and to predict the future based on previous research. This white paper has described the concepts and trends of outsourcing based on previous research. An extensive literature search was performed to achieve this goal. This article presents previous literature and findings.”. The second chapter “Problem definition, Methodology and Methods” defines business problem and methodology. Outsourcing has become inevitable, and virtually many multinational companies outsource to take advantage of scarce internal resources. The study observes that company owners are the main winners in outsourcing and offshoring situations. Moreover, a detailed review of the literature shows that, among many other motivations, cost factors play a significant role in outsourcing decisions. There are ultimate protests about jobs going abroad from developed countries such as the US, UK and the Western World. However, the net economic benefits of these countries are increasing and outsourcing to offshore destinations is expected to increase for the foreseeable future. The emergence of new players will challenge India's position in IT services and multinationals will take full advantage of new low-cost destinations. The third chapter “Suggestions and key findings”. Outsourcing is a convenient way for companies to maximize the benefits of their global supply chain. An agreement between a company and a domestic or foreign third party to outsource certain operational parts of the company is called outsourcing. The paper also looks at current outsourcing trends, especially how robots are starting to get involved in outsourcing due to technological advances. The global pandemic has affected all industries, disrupting supply chains and having specific impacts across various product and service sectors. Outsourcing is used to adapt to changes in the business environment and considered an additional part of the manufacturing process.