Reshoring (bringing manufacturing back from China and elsewhere) has become a hot topic in manufacturing circles as this Buffalo News article on our client illustrates. The Boston Consulting Group reports that a third of US-based manufacturers with over $1 billion in sales either plan to reshore, or are considering reshoring, some production from China in response to long supply chains, quality & IP issues and skyrocketing wages. Small and mid-sized manufacturers, including companies like Reverie in WNY, are doing the same. However, reshoring presents its own challenges as manufacturers must find or create a domestic supply chain to replace their Chinese suppliers. If you’d like to explore reshoring, Insyte can help you too!
Photo: Associated Press