White Paper - Reshoring Prototyping and Production: A Practical Guide to Avoid Supply Chain Disruption
Overseas production has its benefits for many manufacturers, but this strategy is not without its issues. Transportation delays, trade regulations and tariffs, intellectual property concerns, and quality control are just a few of the major challenges of a global manufacturing approach. The impact of these issues on manufacturers' speed-to-market, product quality, and supply chain has been exacerbated by the pandemic, increasing headaches for those who manage design and engineering, prototyping, manufacturing operations, procurement and order fulfillment.
Over the last four years, the call to "bring manufacturing back home" has become increasingly audible. Even before Covid-19, reshoring became more attractive to U.S. manufacturers because of a trade war with China, tax incentives, and a lack of transparency in supply chains. Some companies seeking to mitigate risks, like GE and Apple, have already taken steps to reshore or near-shore tooling production, component manufacturing, and assembly. The current macro-economic and political environments have accelerated this trend. A recent survey by Thomas indicates that 69% of manufacturers are "likely" to "extremely likely" to reshore in the future, a 28% increase over just a few months prior.
In this whitepaper, we'll explore this trend and provide insight into why and when it makes sense for U.S. manufacturers to reshore prototyping and production, and how companies can leverage the benefits of working with local design, prototype, and manufacturing partners during the pandemic and beyond.
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