Supply chain challenges have remained persistent into 2022, with congestion forcing ships to wait outside of ports for a chance to unload, empty containers piling up on docks, and extreme lead time environments forcing companies to rethink their supply chain strategies. One strategy to reduce supply chain risk involves nearshoring. Nearshoring refers to a company’s sourcing strategy – where they produce their goods – indicating that goods are produced in a country close to the intended market. In contrast, strategies like offshoring or onshoring produce goods away from or in a target mar...