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Reshoring Terminology
Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Usually this refers to a company business, although state governments may also employ offshoring. More recently, technical and administrative services have been offshored. Offshoring and outsourcing are not mutually inclusive: there can be one without the other. They can be intertwined ( offshore outsourcing), and can be individually or jointly, partially or completely reversed, involving terms such as reshoring, inshoring, and insourcing. Offshoring is when the offshored work is done by means of an internal (captive) delivery model, sometimes referred to as ''in-house offshore.'' Imported services from subsidiaries or other closely related suppliers are included, whereas intermediate goods, such as partially completed cars or computers, may not be. Motivation Lower cost and increased corporate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process
A business process, business method or business function is a collection of related, structured activities or tasks by people or equipment in which a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels and may or may not be visible to the customers. A business process may often be visualized (modeled) as a flowchart of a sequence of activities with interleaving decision points or as a process matrix of a sequence of activities with relevance rules based on data in the process. The benefits of using business processes include improved customer satisfaction and improved agility for reacting to rapid market change. Process-oriented organizations break down the barriers of structural departments and try to avoid functional silos. Overview A business process begins with a mission objective (an external event) and ends with achievement of the business object ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade In Services
Trade in Services refers to the sale and delivery of an intangible product, called a service, between a producer and consumer. Trade in services that takes place between a producer and consumer that are, in legal terms, based in different countries is called International Trade in Services. Methods of Trade International trade in services is defined by the ''Four Modes of Supply'' of the General Agreement on Trade in Services (GATS). * (Mode 1) Cross-Border Trade - which is defined as delivery of a service from the territory of one country into the territory of other country, e.g. remotely providing accounting services in one country for a company based in another country, or an airline flying between two international destinations * (Mode 2) Consumption Abroad - this mode covers supply of a service of one country to the service consumer of any other country, e.g. tourism, telemedicine, or study abroad * (Mode 3) Commercial Presence - which covers services provided by a servic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North American Free Trade Agreement
The North American Free Trade Agreement (NAFTA ; es, Tratado de Libre Comercio de América del Norte, TLCAN; french: Accord de libre-échange nord-américain, ALÉNA) was an agreement signed by Canada, Mexico, and the United States that created a trilateral trade bloc in North America. The agreement came into force on January 1, 1994, and superseded the 1988 Canada–United States Free Trade Agreement between the United States and Canada. The NAFTA trade bloc formed one of the largest trade blocs in the world by gross domestic product. The impetus for a North American free trade zone began with U.S. president Ronald Reagan, who made the idea part of his 1980 presidential campaign. After the signing of the Canada–United States Free Trade Agreement in 1988, the administrations of U.S. president George H. W. Bush, Mexican President Carlos Salinas de Gortari, and Canadian prime minister Brian Mulroney agreed to negotiate what became NAFTA. Each submitted the agreement for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Physical Restructuring
Manufacturing companies often refer to their manufacturing plant transfer, consolidation and closure activities as physical restructuring. This can be done by moving production or services overseas, a process known as offshoring. Such projects began in the United States during the 1960s and by 2009 had showed little sign of having ended. Such corporate behavior has taken its toll on the manufacturing base and continues to do so. Chrysler planned a phase of physical restructuring with the sale of its "good assets" to Fiat in 2009. Pfizer has executed numerous physical restructuring programs in the years prior to 2009, as a direct result of changes in the drug pipeline and an outdated and inefficient manufacturing and distribution network. General Motors announced a large wave of physical restructuring associated with their June 2009 bankruptcy filing. While the sell-off of assets is necessary in cases of bankruptcy, the costs associated with physical restructuring need to be man ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bodyshopping
Body shopping is the practice of consultancy firms recruiting workers (generally in the information technology sector) in order to contract their services out on a tactical short- to mid-term basis. IT services companies that practice body shopping assert that they provide real services (such as software development) rather than the "sham" of merely farming out professionals to overseas companies. History and origin Body shopping in IT originated during the mid-1990s when there was a huge demand for people with mainframe, COBOL and related technology skills to prevent systems being affected by the Y2K bug. Most specialist Y2K consulting companies operating in the US, Europe, the Middle East, Japan and Australia outsourced their technical manpower requirements to companies operating in India. During the period of 1996–97, such companies based in India responded to the heavy demand by recruiting and training local Indian graduates specifically for Y2K. Their consultants ei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Information System
Global information system is an information system which is developed and / or used in a global context. Some examples of GIS are SAP, The Global Learning Objects Brokered Exchange and other systems. Definition There are a variety of definitions and understandings of a global information system (GIS, GLIS), such as * A global information system (GIS) is an information system which is developed and / or used in a global context. * A global information system (GIS) is any information system which attempts to deliver the totality of measurable data worldwide within a defined context. Common to this class of information systems is that the context is a global setting, either for its use or development process. This means that it highly relates to distributed systems / distributed computing where the distribution is global. The term also incorporates aspects of global software development and there outsourcing (when the outsourcing locations are globally distributed) and offshoring ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and " financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the mea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitabil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process Outsourcing
Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and assets from one firm to another. The term ''outsourcing'', which came from the phrase ''outside resourcing'', originated no later than 1981. The concept, which '' The Economist'' says has "made its presence felt since the time of the Second World War", often involves the contracting of a business process (e.g., payroll processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support. The practice of handing over control of public services to private enterprises ( privatization), even if conducted on a limited, short-term basis, may also be described as outsourcing. Outsourcing includes both foreign and domestic contracting, and sometimes includes off ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bestshoring
{{Unreferenced, date=January 2009 Bestshoring, also known as rightshoring, is the process of identifying the best location to move manufacturing, IT or business processes for a company. The decision is to be based on quantifiable criteria which are intended to take subjective and political input out of the decision cycle. Many companies use external consulting firms to make these decisions. On August 1, 2004, Hillary Clinton wrote an article explaining why bestshoring beats outsourcing. Her argument is that " Foreign labor isn't as cheap as it seems." See also *Offshoring Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Usually this refers to a company business, although state gove ... External links 'Bestshoring' Beats Outsourcingby Hillary Rodham Clinton. Business terms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Latin America
Latin America or * french: Amérique Latine, link=no * ht, Amerik Latin, link=no * pt, América Latina, link=no, name=a, sometimes referred to as LatAm is a large cultural region in the Americas where Romance languages — languages derived from Latin — are predominantly spoken. The term was coined in the nineteenth century, to refer to regions in the Americas that were ruled by the Spanish Empire, Spanish, Portuguese Empire, Portuguese and French colonial empire#The Americas, French empires. The term does not have a precise definition, but it is "commonly used to describe South America, Central America, Mexico, and the islands of the Caribbean." In a narrow sense, it refers to Spanish America plus Brazil (Portuguese America). The term "Latin America" is broader than categories such as ''Hispanic America'', which specifically refers to Spanish-speaking countries; and ''Ibero-America'', which specifically refers to both Spanish and Portuguese-speaking countries while leaving ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nearshoring
Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and assets from one firm to another. The term ''outsourcing'', which came from the phrase ''outside resourcing'', originated no later than 1981. The concept, which ''The Economist'' says has "made its presence felt since the time of the Second World War", often involves the contracting of a business process (e.g., payroll processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support. The practice of handing over control of public services to private enterprises (privatization), even if conducted on a limited, short-term basis, may also be described as outsourcing. Outsourcing includes both foreign and domestic contracting, and sometimes includes offshoring ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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