The COVID-19 pandemic and recent geopolitical political unrest have undoubtedly forced manufacturers to reassess their supply chains and consider the bottom-line impact to both the risk and cost profiles of their operations. Many of the these risks are still very pervasive today, and manufacturers should rethink their sourcing and supply chain strategies, if they have not recently done so. Sourcing across borders has offered attractive cost advantages in the past. However, over the last decade, offshoring and cross-border production has become increasingly expensive, and the risk of the “long” supply chain—coupled with recent cost incentives to produce in the United States—has driven reshoring to be a key topic for consideration on the CEO agenda. A recent Kearney survey found that 96% of CEOs are heavily considering reshoring their offshore operations or have already done so.
Additionally, overseas businesses that are eying the U.S. market are actively evaluating onshoring manufacturing capabilities into the U.S. in order to shorten their supply chains, reduce logistics costs, and increase their competitiveness in the U.S. market.
This white paper will examine how you can de-risk your supply chain and reevaluate costs when bringing manufacturing operations back to the United States. You'll also learn:
- Why your company should consider reshoring and onshoring, if this has not recently been evaluated.
- Benefits of reshoring or onshoring, including cost savings, reduced lead times, expedited time to market, and enhanced sustainability.
- Key impacts of reshoring and onshoring across various industries.
- Strategies to consider and execute that can radically reduce manufactured costs vs. offshoring.
- Competitive considerations for companies considering onshoring manufacturing operations in the United States.
Please complete the form on this page to download this free Hynes Industries white paper to better understand how onshoring can help optimize your supply chain.
