Understanding the Pros and Cons of Each Strategy and How to Make the Right Decision. In today’s globalized economy, companies have many options for sourcing labor and resources. Two of the most popular strategies are nearshoring and offshoring. Both approaches involve relocating operations to another country, but they have different advantages and disadvantages depending on the business’s needs. In this …
The Top 7 Industries that Utilize Nearshoring
This model consists of outsourcing business processes and technology to countries close to the main operation. In the past decade we have grown used to hearing words like offshoring and outsourcing, referring to companies that decide to migrate some part of the business or operation, to countries where the cost of labor is lower than where the company is based. …