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Discuss the advantages and disadvantages of outsourcing

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Question - After reviewing production costs, you have realized that at this time, it is cheaper to purchase a component of the product you manufacture instead of creating it in-house. Think about this outsourcing decision by identifying the factors under consideration (financial and nonfinancial) that might affect each option. Discuss the advantages and disadvantages of outsourcing this item along with the impact to the business. Think critically about this decision. This is your business and you want to do what makes the most sense for it. What is your decision? Explain the reasoning behind it.

Reference no: EM132477330

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