Term of the Day
Nearshoring or "nearshore outsourcing," is a concept for the form of outsourcing in which business processes are relocated to locations which are cheaper and yet geographically nearer.
Nearshoring can also be contrasted with offshoring or offshore outsourcing, which implies relocation of business processes to cheaper locations, typically quite far from the parent location.
Major nearshoring destinations for US businesses are Mexico and Canada, and in Western Europe, include Ireland, Eastern Europe and the Maghreb.