Reshoring was at record levels in 2018! Manufacturers are starting to return as they see the total costs of offshoring combined with the rising costs in China and improved competitiveness of the U.S.
Earlier this year, LMA released a report, “Manufacturing & Supply Chain in the New Normal”, that includes insight from a number of industry experts and executives on current trends in logistics and supply chain management.
Where are you sourcing from currently? Don't just jump on the new bandwagon of reshoring but you should give your total cost of ownership a second look as well as dig into your customers' expectations and sourcing impacts.
What might seem impossible to us might not be! Do you tend to write off ideas before considering their full value? Perhaps we should take a page from Wisconsin's playbook and look at the big picture, think long-term and mix it up a bit.
Successful manufacturers are re-evaluating their outsourcing/ insourcing/ near-sourcing options. To remain competitive and have any hope of staying ahead of the curve, they are knee-deep in considering the options.