Ever since China announced it would start increasing its wages by 13% each year through 2015, there’s been a lot of chatter in the global trade publications about production and assembly returning to the U.S. or to manufacture in Mexico.
While U.S. companies manufacturing in China and abroad are obviously said to be in favor of the “offshoring” trend, those selling to the U.S. market who prefer using bordering countries are engaging in “nearshoring.”
However, in 2012, the proverbial buzzword stew got considerably thicker as excited analysts sliced and diced off a slew of new terms to describe businesses’ return to the U.S. or their attempts to outsource manufacturing across various markets.
As a result , we now have reshoring, on-shoring and right-shoring. As we’ve discussed in previous MFI blog posts, the smartest, most cost-effective business model for you comes down to your company’s individual priorities:
Can you come up with a better marketing term for moving production closer to home? Share it in our comments section and win the admiration of your peers.