Offshoring

Offshoring is relocating some or all of a firm's manufacturing or other business processes to another country typically to reduce costs.

Definition

According to the Strategic Management by Parnell (4th edition),

Offshoring. Relocating some or all of a firm's manufacturing or other business processes to another country typically to reduce costs.

According to Managerial Accounting by Braun, Tietz (5th edition),

Offshoring. Having work performed overseas. Offshored work can be performed either by the company itself or by outsourcing the work to another company.

According to the HRBoK Guide,

Offshoring. Relocation of a business process to another country. Transferring service or manufacturing operations to a foreign country where there is a supply of skilled and less costly labor.