Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How respond to this. For instance, when shopping for groceries, I can outsource the in-store shopping to a company such as Instacart which employs a

How respond to this. For instance, when shopping for groceries, I can outsource the in-store shopping to a company such as Instacart which employs a shopper to go around the store to collect my groceries or I could go into the store myself. Either way, I will incur the cost of groceries, but if I hire an Instacart employee, I will incur an extra cost to save on gas and time. Another example is cleaning my home. I could outsource the cleaning to a housekeeper service to save on cleaning supplies, or I could purchase my own cleaning supplies and do the process myself. Finally, I could outsource my vegetables. Instead of growing my own vegetables, I could purchase them at the grocery store. By growing my vegetables myself, I spend money on tools, soil, and seeds, but save on gas and the cost of purchasing the vegetable. By outsourcing, I spend money on gas and purchasing the item; however, I must also consider the quality of my purchase and the time it takes me to grow vegetables. Just like a manager within an organization, I must decide if the cost to outsource is less than the cost to produce

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managing Operations Across The Supply Chain

Authors: Morgan Swink, Steven Melnyk, Janet L. Hartley, M. Bixby Cooper

4th Edition

1260547639, 978-1260547634

More Books

Students also viewed these General Management questions