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COVID-19 has accelerated deglobalization in manufacturing, but that shift was already underway before the pandemic. Between 1990 and 2016, global trade had been growing at average annual rate of 4.9 percent, according to the World Trade Organization.
Growing sustainability and resilience concerns brought about by trade war uncertainty and the COVID-19 pandemic have companies looking for ways to mitigate risk and increase agility.
Deglobalization was already happening before the coronavirus brought the world to a grinding halt. Global supply chains that were once so appealing were becoming less attractive due to geopolitical turmoil, shifting priorities, rising costs, trade wars and environmental concerns.
Have you or your customers successfully reshored? Would you like to steer a successful reshoring project? In 2018, more than 1,300 companies announced they were shifting jobs to the U.S. from offshore. Why not ride the reshoring wave yourself, generate more business... and get 15 minutes of fame? Here are three ways to do just that.
U.S. consumers are increasingly concerned about how their buying habits affect the environment. In fact, a recent Nielsen study found that 48 percent of U.S. consumers would change their buying habits to reduce environmental impacts.
In my last column, we discussed how a shift in consumer behavior and the adoption of new technology are transforming the traditional supply chain. We learned that some manufacturers are making the complex move to cut out the middleman and ship their products direct to consumers (D2C) for increased profits and greater control over brand, price and customer data.
