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Pandemic Paves Way for Accelerated Reshoring

Companies with local supply chains fared better during the pandemic than those that did not. Meanwhile, COVID-19 has caused chaos in tightly interconnected global supply chains, and now companies are rethinking, shifting, shortening and reshoring them.

Posted: June 30, 2020

Article says the supply chain ecosystems for essential products will be razor-focused on flexibility, shortened lead times and stability. "Now is an especially good time for companies to reevaluate the choice of domestic vs. offshore production," author Harry Moser states.

BY HARRY MOSER,

FOUNDER & PRESIDENT, RESHORING INITIATIVE

The COVID-19 pandemic has caused chaos in tightly interconnected global supply chains. In response, companies are rethinking, shifting, shortening and reshoring supply chains. The April Thomas Industrial Survey revealed that manufacturers are likely to bring production and sourcing back to North America (64%, a 10% increase from March 2020). And in other cases, importers are forgoing slightly higher short-term margins to minimize medium-term risk and embrace a more resilient and flexible local supply chain model. The COVID-19 pandemic is shifting priorities and having a dramatic impact on reshoring.

Read full article at Modern Casting magazine, published by the American Foundry Society