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CHAPTER I: Introduction
1.1 Background of the Study
The In sourcing and/or Outsourcing decision is referred to in purchasing as sourcing policy decision and it is one of the most important decision points for any organization because it has a multiple and web like effect on the life of the organization.
Managers of businesses most especially manufacturing organizations faces a series of important and determining questions which must be answered correctly if the organization is to succeed in midst of competition.
The Purchasing Manager must first address the question of which product or service best fits the needs of the organization and should the organization produce (make or insource) what is consumed or buy from outside suppliers? The questions arising from this is that, if they decide to buy from outside suppliers, will the organization buy from a single supplier (single source) or from several suppliers (multiple source); even when that is answered, the questions will still be, should we buy directly from manufacturers or use intermediaries or may be, the organization should both insource and outsource simultaneously.
However, before an organization can come to any decision as to whether to make what it consume inhouse or to buy from outside suppliers (outsourced) several factors such as financial consideration, cost consideration, core competence consideration and a way they will have to be critically analyzed to see how they will affect the organization productivity.
Outsourcing therefore, is a purchasing policy where outside suppliers are engaged to supply an organization with its materials requirements.
In sourcing on this other hand signifies a situation where what the organization needs, it produces and consumes. Several factors as already indicated will need to be explained before an organization could come to any of these sourcing policy decisions. These shall be the fulcrum of this study.