Any business or company can hand over a part of their process or specific services to be handled by a third party. According to The Deloitte Global Outsourcing Survey 2018, among the industries that refer to outsourcing are technology and media, financial services, consumer and energy, followed by government and public services and life sciences and healthcare.
Among the industries that generate the most revenue are information technology outsourcing and business processes, that includes financial outsourcing and consumer.
Global outsourcing industry revenue from 2010 to 2018, by service type
Reduce the overall cost of production, development or services
Reach a wider pool of experts
Access the knowledge unavailable through other channels
Improve flexibility of business processes
Decrease labor costs
Most of the processes in the company can be outsourced in parts or in general. However, depending on the location of the ultimate executor, level of their involvement and amount of services they render, there are following types of outsourcing:
If a company requires specific services and don't want or cannot afford to hire a dedicated specialist within the company, they can outsource such services. Among commonly outsourced professional services are accounting, legal services, IT, call center support, etc. This allows a company to be more flexible and manage their expenses rationally.
IT Outsourcing
One of the most commonly outsourced professional service, information technology (IT) represents the wide range of services. Companies can outsource research and prototype development, development of software, maintenance, and support. Such contracts allow reducing the costs as contractors can be hired for the period required.
If a company has both internal and external experts working on the same task, such form of outsourcing will be called multisourcing. It involves a distributed team that can be working in two or more locations all over the world. Unlike other types of outsourcing, this one is focused on the result and is often based on the ‘partners’ approach rather than ‘client/worker’ model.
Numerous enterprises refer to the outsourcing of their manufacturing if it allows reducing the cost and decreasing the prime cost of an item produced. Among other reasons for manufacturer outsourcing can be a lack of expertise, time/cost efficiency and a shortage of human resources.
BPO
Unlike professional outsourcing when the whole exercise is transferred to a third-party, this type of outsourcing focuses on a specific process. The primary reason for business process outsourcing is a knowledge gap that is too expensive to close. A typical example of business process outsourcing would ba machinery maintenance (typically outsourced to a company that provided it).
Unlike business process outsourcing, process specific knowledge focuses on outsourcing of an action that another company can do faster or cheaper, which allows business to reduces the costs or improve clients’ experience. This form would request a third party to perform actions according to the contract (for example, delivery services have estimate dates/time, conditions of the delivered goods, etc.)
Globalization and expansion of international business cooperation have triggered offshore outsourcing, making companies choose the providers of services or goods from countries far from their location. Not only does it help reduce the costs, but also opens the business to new markets and experts from other parts of the globe. Common offshore destinations are China and India (manufacturing), Eastern Europe (Ukraine, Romania, Poland for IT).
The reversed process of bringing manufacturing or development back to the country is called reshoring. Such a decision can be justified if the costs of long-distance shipment, customs, and all the subsequent expenses overweight the benefits of offshoring.
If the company can transfer part of its manufacturing or services to the country nearby (common border or close proximity) and final destination has a similar business approach and legislation, then this form of outsourcing, is called nearshoring. One of the examples of nearshoring is cooperation between Scandinavian manufacturers and Baltic countries.
Time in Armenia
Armenia Time (AMT) is the standard time that is used in Armenia. It is 4 hours ahead of Coordinated Universal Time (UTC+4). During its DST period, it used Armenia Summer Time (AMST) which was 5 hours ahead of UTC (UTC+5). The time zone was discounted in 2012.
SilkAir Flight 185
On December 19, 1997 a SilkAir Boeing 737-300 operated as SilkAir Flight 185 was a flight from Jakarta to Singapore with 97 passengers and 7 crew members on-board, which crashed into the Musi River for unknown reasons killing all 104 people on-board.
The cause of the crash remains disputed for the National Transportation Safety Committee, but the National Transportation Safety Board concludes the crash as a pilot suicide by the captain. But the Los Angeles Court thinks that the cause of the crash was a rudder malfunction.
James Adomian
James Adomian (born January 31, 1980) is an American stand-up comedian, writer and actor.
Grass jelly
Grass jelly, or leaf jelly, is a jelly-like dessert eaten in Mainland China, Hong Kong, Macau, Southeast Asia and Taiwan. It is made using the "Platostoma palustre" plant (a member of the mint family). It has a mild, slightly bitter taste. It is served chilled, with other toppings such as fruit, or in bubble tea or other drinks. Outside of Asia, it is sold in Asian supermarkets.
Sago
Sago is a starch that comes from the spongy centre of tropical palm stems. In many cases, it comes from "Metroxylon sagu". It is a major staple food for many people living in New Guinea and the Moluccas. It is called "saksak", "rabia," and "sagu" in those areas.
The largest suppliers are usually in Southeast Asia, particularly Indonesia and Malaysia. Big quantities of sago are often sent to Europe and North America for cooking purposes.
It is traditionally cooked and eaten in various forms. It can be rolled into balls by boiling it in hot water. It forms a glue-like paste (papeda), or as a pancake.
Sago is often sold in the form of "pearls". These small rounded starch which becomes gelatinized by heating. Sago pearls can be boiled with water or milk and sugar to make a sweet sago pudding. Sago pearls look similar to other pearled starches. For example, pearls made out of cassava starch (tapioca) and potato starch. They may be used interchangeably in some dishes or snacks.
Tapioca
Tapioca () is a starch extracted from cassava root ("Manihot esculenta"). This species is native to the North Region of Brazil, but spread throughout the South American continent. The plant was carried by Portuguese and Spanish explorers to most of the West Indies, and continents of Africa and Asia, including the Philippines and Taiwan. It is now cultivated worldwide.
Tapioca starch has been used to make some foods, such as pão de queijo.
Konjac
Konjac ( ; Amorphophallus konjac; syn. "A. rivieri"; Japanese: 蒟蒻/菎蒻; こんにゃく; konnyaku; ; gonyak; ), also known as konjak, konjaku, konnyaku potato, devil's tongue, voodoo lily, snake palm, or elephant yam (though this name is also used for "A. paeoniifolius"), is a plant of the genus "Amorphophallus".
Iveta Mukuchyan
Iveta Mukuchyan () is an Armenian-German singer-songwriter, model and actress. She was born in Yerevan, Armenia. She moved to Hamburg, Germany in 1992. In 2009, Mukuchyan returned to Armenia. She competed in the "Hay Superstar" content where she finished fifth. In 2010, Mukuchyan received the "Discovery of the Year" award at the Armenia Awards in Moscow, Russia. In 2012, she took part in the The Voice of Germany. She was also named as "Sexiest Armenian".