Noshoring
Categories: International, Company Management
What do we get when we cross offshoring and nearshoring? We get “noshoring.”
Outsourcing happens when we export certain business functions—like IT or customer service—to a third party. And nearshoring happens when we export business functions to a nearby country. Ergo, “noshoring” is when we export certain business functions to a nearby country.
“Noshoring” equals “no” plus “shore,” and the thinking there is that we don’t have to cross a shoreline to reach our outsourced functions. For example, if we manufacture melamine dinnerware here in the U.S., but our accounting functions are handled by a group in Canada, that would be considered noshoring.
