Analyze your business? financial report in context with the competition while measuring the costs of outsourcing. Establishments that are in a highly competitive industry need to consider outsourcing to remain strong, while dominant companies can afford to stand pat over the short term.
Your goal to expand your business through outsourcing needs to be tempered by a calculation of outsourcing costs. There is a number of ways to save your costs in outsourcing labor but initial costs for foreign expansion can be considerable. You also need to measure personnel costs and public relations of outsourcing before initiating your business plan.
Calculate
Study total profits over the last 5 years in measuring the necessity for outsourcing. Your goal should remain on drastic decreases in profit after taxes and a comparable increase in business expenditures.
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Consider
Analyze your business? financial report in context with the competition while measuring the costs of outsourcing. Establishments that are in a highly competitive industry need to consider outsourcing to remain strong, while dominant companies can afford to stand pat over the short term.
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Detail
Study rental agreements, business mortgages and other facility documents in determining potential savings through outsourcing. A barrier to outsourcing into new regions is the initial cost of new offices and factories. Your business may be able to sell off older properties and find lower-rent offices miles away from current locations to save money.
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Analyze
Look into equipment costs at all levels of your company to measure the costs of outsourcing. Your establishment may need the current machines in your factory, but you may be able to sell or transfer computers, desks and office supplies to save money while you outsource.
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Consolidate
Peek into fuel reimbursement, bonus programs, and other fringe benefits to present staff members. Your expansion into new markets and restructuring of current facilities may lead to high costs accrued by a motivated work force.
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Implement
Work with your managers and accountants in determining the exact number of man hours required for production processes. Eliminating positions and outsource production work to cheaper markets after determining the necessary amount of work required.
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Assess
Simply compare the benefits, wages and overall costs of your staff and potential employees in other markets. Your goal to outsource positions may be reinforced by replacing a current worker with a hypothetical worker.
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Grow
Present all the possibility of outsourcing to investors and middle management in determining their interest. All the more, it is important to use every bit of feedback before making a final decision.
? ? ? ? ? Read related article:Knowledge Process Outsourcing
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Source: http://northernworx.com/measuring-the-costs-of-outsourcing
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