Much has been written recently about the phenomenon of reshoring, the practice of bringing offshored manufacturing and sourcing work back to the U.S from abroad. In fact, an entirely new and often confusing vocabulary has developed around this subject. Terms such as outsourcing, offshoring, reshoring, nearshoring, and even resourcing are freely tossed about in articles and press reports. The purpose of this paper is to bring some clarity to the topic and discuss some real-world factors that businesses should consider when weighing decisions about where to make or buy products, components, and materials.
Chuck Miller is a Certified Professional in Supply Management and Vice President of Mohawk Global Trade Advisors.