Supply Chain Day: the ongoing chip shortage
Summary
Moving production to the US and Europe Many businesses are now looking to restructure their supply chains to reduce risk and ensure greater resilience in the face of future disruptions. This shift is driven by several factors, including rising labour costs in Asia, changing trade policies, and the increasing need for greater supply chain transparency and control. Reshoring also offers the advantage of reduced transportation costs and shorter lead times, allowing companies to respond more quickly to changing market conditions. While there are still challenges associated with reshoring, including higher upfront costs and the need for specialised skills and equipment, many businesses see it as a necessary step in securing their long-term competitiveness in the global market. Moving production to the US and Europe, mitigating the risk of intellectual property, addressing quality issues, managing freight costs, and maintaining supply chain flexibility are all important considerations for companies.
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