Nearshoring is a strategy used by companies to bring production closer to their primary market while still outsourcing certain operations abroad. The goal of nearshoring is to reduce transportation costs associated with sourcing materials or manufacturing goods overseas. While at the same time not compromising quality, safety, speed, and flexibility of the product’s supply chain. … Read more
Reshoring is an increasingly popular strategy used by companies that have traditionally sourced their raw materials or manufacturing operations abroad. The goal of reshoring is to bring production back home by relocating supply chains closer to the company’s main market and reducing associated transportation costs. And with the recent disruption to global supply chains, it … Read more
The Society of Auditors and Accountants for Electronic Data Interchange (or SSAE) developed these standards in order to ensure that organizations like yours…
A Work-in-Progress (WIP) is an account on a company’s balance sheet that refers to the money spent on material parts and processes for production or packaging.