Understanding Offshoring, Onshoring, Nearshoring, and Rightshoring in Procurement
Una
OCTOBER 12, 2023
Avoiding a one-size-fits-all approach, it aims to identify the “right” location or mix of locations for sourcing based on factors like cost, quality, lead times, and risk mitigation. Procurement teams must evaluate and address potential risks such as geopolitical instability, transportation disruptions, or supply chain vulnerabilities.
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