Uncertainty still hangs over supply chains and is pushed further due to skyrocketing fuel prices, exorbitant shipping costs and continuous COVID-19 lockdowns globally. Nearshoring is said to be the 'epic', 'strategic' response to the long-withstanding situations that continue to disrupt global supply chains. It is being used to reshape supply chains, especially in the West, as they go all out to stay afloat in testing waters.
Between transportation delays, pandemic-related factory shutdowns and geopolitical tension, global supply chains have never been more vulnerable. Volatility became the new normal. The farther a supplier is from a buyer, the more opportunity for disruption.
Nearshoring involves shifting manufacturing facilities closer to home, and is the complete opposite of 'offshoring' manufacturing, often halfway across the world.
According to Dylan Alperin, Keelvar's Head of Professional Services, "Moving supply chains closer to home not only reduces the risk of external events creating delays, shortages and more for supply - it also increases procurement teams' visibility into their supplier relationships, makes it easier for them to ensure criteria such as reliability and sustainability are met, and enables them to quickly react to market changes and fluctuating demand."
In my signature style, let's go into a brief flashback.
Bu hikaye Logistics Insider dergisinin February 2023 sayısından alınmıştır.
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Bu hikaye Logistics Insider dergisinin February 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
Coldman Logistics launches 7,000 Pallets Capacity Temperature Controlled Warehouse in Kolkata
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FACELESS ASSESSMENT
A Right step, but still a long way to EODB
MODI NATURALS Doing it Right
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People-centric Digital Supply Chains For The Win
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NEARSHORING Supply Chains' New Kid on the Block?
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2023 WORD OF THE YEAR ADAPTABILITY
Volatility, uncertainty, complexity and ambiguity make up the VUCA world and a critical trait to sustain in this world is adaptability. A trait that enables supply chain leaders across the world to upgrade the way they work and enable business. continuity. With back to back disruptions becoming a norm of the new post-pandemic world, adaptability has emerged as a keyword in the books of supply chain leaders. In our cover story this month, we asked a few of such leaders about their thoughts on adaptability, its potential and the way it is transforming traditional supply chains.
"More Hits Than Misses" INDUSTRY REACTS TO THE BUDGET
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