FTC Cracking Down on Bogus ‘Made in USA’ Claims
The FTC is cracking down on bogus 'Made in America' claims. Lisa Anderson was quoted in Bloomberg Law on reshoring and near-shoring.
The FTC is cracking down on bogus 'Made in America' claims. Lisa Anderson was quoted in Bloomberg Law on reshoring and near-shoring.
If you are dependent on any region, non-friendly country, customer, supplier, material, or anything noteworthy to your success, you must diversify. Although this concept has always been true, the pandemic highlighted the critical importance. Some companies simply lost their source of supply overnight and have not recovered if not diversified.
The supply chain is in a constant state of disruption. As we discussed on Supply Chain Chats, simple backup plans are no longer enough. In fact, you can look at recent events and determine if a backup is sufficient. Starting with the pandemic, of course, most if not all companies didn't have a sufficient enough backup plan.
COVID-19 may no longer be a significant public health threat, but the global supply chain remains chock full of risk. The threats are seemingly everywhere these days: The Israel-Hamas war, which is sabotaging trade routes in the Red Sea; extreme drought, which is curtailing shipping in the Panama Canal, and China’s military aggression, which is threatening lawful commerce in the South China Sea.
Manufacturers wish they left supply chain shortages behind after the pandemic, but they remain top of mind. Concerns remain. According to KPMG, “71% of global companies highlight raw material costs as their number one supply chain threat for 2023.”
The supply chain has calmed down since the height of the pandemic; however, smart manufacturers are thinking ahead to changing conditions. Geopolitical risks are at an all-time high.
This cutting-edge tool prompts supply chain professionals, operations executives and senior leaders to introspect and critically assess various facets of their supply chains that affect customer performance, with a focus on flexibility and efficiency.
Clients typically set goals; however, goals without an understanding of where you stand is non-value added. Although it is common to set goals and expect employees to achieve them, it is far less common for clients to understand how they will get from the current state to the desired future state.
The best consulting clients are razor focused on supply chain volatility, risk and capacity. The recent events in the Red Sea highlight these critical priorities.
40% of the goods movement from Northeast Asia to the U.S. East Coast go through the Panama Canal, and so the Panama Canal issues are driving shortages, late deliveries, and re-routing of goods.