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Seeking a Solution to Supply Chain Issues? Reshoring may be the Answer

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US manufacturers are increasingly turning to reshoring to deal with supply chain problems. See what the report reveals.

A Thomas Index Report reveals that an overwhelming percentage of US manufacturers are likely or extremely like to increase their reshoring efforts. The company’s  State of North American Manufacturing Report reveals that manufacturers intend to reshore parts of their supply chains. The result of a greater portion of manufacturers’ supply coming from UP producers could contribute $443 billion to the U.S. economy, according to Thomas.

The report reveals:

  • Significant Interest in Reshoring: 83% of manufacturers indicate they are ‘likely’ to ‘extremely likely’ to reshore
  • Supply Chain Intelligence: We reveal the average and median contract sizes by sector and company size for new and all supplier contracts
  • Industrial Buyers’ Priorities and Preferences: More focus on availability, lead times, and the total cost of ownership
  • Surging Sourcing Activity by Sector: Substantial increase in demand in Q1 2021 versus 2020 for selected raw materials, traditional manufacturing services, and advanced manufacturing technologies across key sectors

 

 

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