What does the reshoring trend mean for your manufacturing company? In this 2022 supply chain update, I focus on evidence that chatter about reshoring has turned into action.
Plans for moving sourcing seem to be gaining momentum! New evidence points to rapid movement to bring production home, especially in hard-hit sectors.
Perhaps you saw the report from Bloomberg about new evidence of supply chain relocations back to the U.S.? First, they looked at mentions of the terms onshoring, reshoring, and nearshoring in earnings calls and conference presentations. Then, analysts counted how many times the terms came up.
If you thought the supply changes were all talk, new construction projects data will surprise you. Dodge Construction Network data reported by Bloomberg found these startling facts:
New manufacturing construction projects in progress include chip making facilities in Phoenix, and aluminum and steel plants in Alabama, Arkansas, and Kentucky.
And that’s just the tip of the iceberg! The top opportunities in new manufacturing facilities construction span across the US.
As supply chains get shuffled, new opportunities arise for U.S. manufacturers, especially those manufacturing in the U.S.
For example, new manufacturing facility construction has already driven up orders for air compressors. That led to the reopening of an Ingersoll Rand plant in Buffalo New York.
Now is the time for manufacturers to prepare to be important players in the great supply chain shift! So, we developed some questions to help you plan a strategy that builds relationships and drives sales.
It’s worth aligning your marketing strategy with changes in the supply chain, because the trend will likely continue for the foreseeable future.
Unfortunately, even the pandemic shows signs of remaining a factor. And our new awareness of vulnerabilities and increased attraction to automation are here to stay. So, this 2022 supply chain update may remain relevant long into next year.
See the full Bloomberg article for more details on what’s behind this trend and what we’re likely to see going forward.
So, what do you see your company doing in response to supply chain trends?
With over two decades of experience, Parin leads an expert demand-generation agency, StratMg, that helps industrial manufacturing clients achieve unambiguous and quantified organic sales growth across the US, EMEA & APAC.
Parin has built & positioned StratMg to be a value-added marketing services provider that strives to create a culture of quantified sales-driven marketing initiatives leading to sustained business growth through channel management, diversification, new customer acquisition and retention strategies and tactical execution.