What is nearshoring?

Nearshoring is a cost-effective strategy for OEMs to bring operations closer to their corporate HQ or bring things back into the regional or local marketplace. For example, An OEM based out of the US manufactures their devices in Singapore. When those devices need to be serviced or fixed, the OEM sends the device back to the manufacturer’s HQ, taking upwards of several weeks to be received, evaluated or repaired, and returned, yielding a very high turnaround time.