Which recent global trend describes companies and countries seeking to relocate manufacturing closer to home markets to reduce supply chain risk?
A
Outsourcing
B
Nearshoring
C
Offshoring
D
Globalization
Correct Answer: Option B — Nearshoring
Explanation:
Nearshoring refers to the trend of relocating manufacturing and supply chains closer to domestic or regional markets, driven by efforts to reduce dependency risks exposed during recent global disruptions.