Reshoring and Global Supply Chains

cybersecurity, education, Employee branding, Industry Today, manufacturing, technology 1 Minute

Why are manufacturers reshoring? 

Inflation, escalating costs of raw materials and energy, rising labor costs, supply chain disruptions, and automation and AI all combine to the resurgence of reshoring.

“As companies adapt to changing dynamics, it is becoming a necessity to shift their logistics, inventory management and warehousing strategies to respond to broader economic shifts,” writes Brian Legan, the Americas Industrial Products Leader in the Advanced Manufacturing & Mobility sector, in this week’s Industry Today feature article. “Reshoring enhances that adaptability and allows companies to mitigate the impact of rising costs and maintain competitiveness in a dynamic market environment.

Legan discusses the long-term implications of reshoring as it relates to:

  • Talent considerations. While AI and automation can mitigate labor shortages, the fact remains that industry faces 2.1 million unfilled jobs by 2030. 
  • Technology. Manufacturers are just beginning to leverage the possibilities of AI to redefine operations to adapt to the needs of a global marketplace.
  • C-Suite expectations. In a recent survey, more than half of American CEOs (55%) plan to reshore their operations, and nearly all of those CEOs (95%) said they would do so in the short term.

“As companies continue to further automate their operations, we can expect to see reshoring becoming a bigger priority for the C-suite,” Legan says.  “While not a one-size-fits-all solution, reshoring offers manufacturers a range of benefits that align with today’s complex and rapidly changing business landscape.”

Read the complete article, How Reshoring May Transform Global Supply Chains.

Is your organization considering reshoring? What do you see as the advantages? To share your experiences and thoughts, please see our editorial guidelines.

Read more about me or visit my Signitt.

Tags: #reshoring #laborshortage #supplychain #SusanPoeton, #SuePoeton, #industrytoday

Published by Point of View

Point of view (POV) is what the character or narrator telling the story can see (his or her perspective). The author chooses “who” is to tell the story by determining the point of view. Depending on who the narrator is, he/she will be standing at one point and seeing the action. This viewpoint will give the narrator a partial or whole view of events as they happen. Many stories have the protagonist telling the story, while in others, the narrator may be another character or an outside viewer, a narrator who is not in the story at all. The narrator should not be confused with the author, who is the writer of the story and whose opinions may not be those written into the narrative.

Published

Leave a comment