Very common term in oil ,gas and construction industries.

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Note added at 33 mins (2015-07-07 12:50:28 GMT)
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Outsourcing
From Wikipedia, the free encyclopedia
In business, outsourcing involves the contracting out of a business process to another party (compare business process outsourcing). The concept "outsourcing" came from American Glossary 'outside resourcing' and it dates back to at least 1981. Which means to use outside resources and experts for to develop, expanded and...an organization[1][2] Outsourcing sometimes involves transferring employees and assets from one firm to another, but not always.[3] Outsourcing is also the practice of handing over control of public services to for-profit corporations.[4]

Outsourcing can also be viewed as any assistance from an intermediary that is more capable of or familiar with certain practices than us.[who?] It is just a way of seeking for help.

Outsourcing includes both foreign and domestic contracting,[5] and sometimes includes offshoring (relocating a business function to another country).[6] Financial savings from lower international labor rates can provide a major motivation for outsourcing or offshoring.

The opposite of outsourcing, insourcing, entails bringing processes handled by third-party firms in-house, and is sometimes accomplished via vertical integration. However, a business can provide a contract service to another business without necessarily insourcing that business process.

Outsourcing is a very important tool for reducing cost and improving quality.[citation needed] If an organization does one or all its work by itself, its work may affect its production quality. So, an organization must realize some important areas, from which its cost is reduced and its products stay in high quality.