Insourcing
When most people think of procurement, they think of sourcing goods and services from outside suppliers. However, procurement also refers to the process of sourcing goods and services from within your organization (insourcing).
Insourcing is often seen as a way to improve quality control and reduce costs. When done correctly, insourcing can improve your organization’s efficiency and competitiveness. However, insourcing can also lead to higher costs and reduced quality if not managed properly.