The past few years have shown just how vulnerable the global supply chain can be to disruptions. From labor and critical material shortages during the pandemic to chip shortages afterwards, manufacturers have come to understand the susceptibility of our global supply chains. Geopolitical issues have further highlighted the need to identify strategic sources of components and materials. Countries and companies alike must ensure they have the appropriate contingencies in place to mitigate potential future risks. Alongside this, companies are looking to reduce the carbon footprint associated with global transportation wherever possible. To thrive in this dynamic (and sometimes turbulent) environment of constant change, manufacturers can leverage the advantages of digital transformation to establish new ways to protect their supply chains amid uncertainty. Consequently, nearshoring and re-shoring are now being pursued as viable supply chain strategies in many critical industries. A significant number of manufacturing companies are using these strategies to rethink the way they produce goods, while insulating their supply chains from future disruptions and become more adaptable and resilient. In fact, a recent ABB survey found that 70% of U.S. manufacturing companies plan to establish or relocate production capacity closer to home, their customers or potential buyers. Smart […]
How Nearshoring Accelerates Resilience Through Digital Transformation
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