New York Times focused on businesses looking to “reshore” supply chains. Japan has funded $2.2B to help companies shift production out of China. European trade ministers are also looking to diversify sourcing.
A.T. Kearney’s 7th Annual Reshoring Index highlighted this trend for U.S. business. It showed a “dramatic reversal” of a five-year trend as domestic U.S. manufacturing in 2019 gained share versus Asian exporters. Manufacturing imports from China were hardest hit. Business is also shifting to Vietnam, other SE Asian nations and Mexico to reduce risk and cut cost. COVID-19 highlighted deep exposure to China and has triggered a further re-think of where American companies do business.
It’s not easy to make major shifts like this. It’s costly and has risks of its own. MOSIMTEC computer simulation can help. Whether you’re looking at moving your manufacturing facilities, changing your supply chain, or other changes, simulation can help you explore options and develop plans virtually to see what works, what doesn’t, and how to do it faster, cheaper, and more efficiently. These are big changes so you want to get it right. MOSIMTEC is here to help.
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