Nearshoring means that a company relocates business processes or parts of the supply chain to a nearby country. Locations in Eastern Europe are often preferred for this purpose. Offshoring, on the other hand, means relocation to distant countries, e.g. in Asia. Nearshoring offers advantages such as:
- low travel costs,
- similar or identical time zones,
- fewer cultural differences,
- easier communication,
- and shorter response times.