Buying of goods or services from suppliers or vendors of some other country instead of local supplier is classified as

Buying of goods or services from suppliers or vendors of some other country instead of local supplier is classified as outsourcing. Outsourcing is the business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company's own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost-cutting measure.