Planning and Scheduling are the interrelated manufacturing functions and should be solved simultaneously to achieve the real motives of integration in manufacturing. In this paper, we have addressed the advanced integrated planning and scheduling problem in a rapidly changing environment, where the selection of outsourcing machine/operation, meeting the customers (single or multiple) due date, minimizing the makespan are the main objectives while satisfying several technological constraints. We developed a mixed integer programming model for integrated planning and scheduling across the outsourcing supply chain and showed how such models can be used to make strategic decisions. It is a computationally complex and mathematically intractable problem to solve. In this paper, a Chaos-based fast Tabu-simulated annealing (CFTSA) incorporating the features of SA, Tabu and Chaos theory is proposed and applied to solve a large number of problems with increased complexity. In CFTSA algorithm, five types of perturbation schemes are developed and Cauchy probability function is used to escape from local minima and achieve the optimal/near optimal solution in a lesser number of iterations. An intensive comparative study shows the robustness of proposed algorithm. Percentage Heuristic gap is used to show the effectiveness and two ANOVA analyses are carried out to show the consistency and accuracy of the proposed approach.