Moving a company’s operations from a country that is located far, to a nearby country is known as nearshoring.
When a more viable option of running an operation located in a far-away country is available in a near country, companies usually go for it.
Nearshoring brings it closer to the organization’s main base. The proximity means ease of access as well as lowered costs.
A company can have more control over the operations with lesser cultural differences between locations.
While offshoring moves a company’s operations to another country where the cost of doing business is less, nearshoring brings it closer to the parent company.
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Hari Menon is a Freelance writer with close to 20 years of professional experience in Logistics, Warehousing, Supply chain, and Contracts administration. An avid fitness freak, and bibliophile, he loves travelling too.