What Are the Risks of Outsourcing and How to Manage The
1 min readJul 10, 2020
A major component of planning companys’ strategy depends on a decision whether it will make a product, purchase the product to sell to customers or supply a service. Outsourcing may seem like a viable option, saving time, on-site costs, and providing a local level of expertise. But before you can go any further with the decision to outsource or not, consider the biggest risks you could face and plan ahead.
The Most Common Types of Outsourcing:
- Freelance Platforms;
- Fixed-Price Contracts;
- Time and Materials;
- Nearshoring/Offshoring.
Risks of Outsourcing:
- Loss of Control;
- Insufficient Technological Advancement;
- Hidden Costs;
- Language Barrier;
- Data Security Issue;
- Delays.
Follow the guide below to learn more.
