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Reshoring and Restoring U.S. Manufacturing

sme.org · 1,018 words · saved by 1 readers

In 2020, the COVID-19 pandemic brought global manufacturing to a screeching halt. The disruption of production was the primary factor: A spiral of suppliers shutting down temporarily or permanently as employees and workers were called upon by business owners and government agencies to stay at home. This, in turn, led to a significant disruption in production, resulting in interruptions across the complex global supply chain. Delivery delays increased costs and created uncertainty for manufacturers and logistic services providers, contributing to a breakdown in the supply chain on multiple levels. U.S. manufacturers relying primarily on China-based suppliers were surprised when that nation went under a severe lockdown. China, the world’s largest manufacturing hub, no longer produced or fulfilled supply orders. Manufacturers in the United States had to seek alternatives for the components needed to assemble their products. Those who could source alternatively did so at a higher cost. The

Facebook Twitter WhatsApp LinkedIn SMS Email Facebook Twitter WhatsApp LinkedIn SMS Email Print Copy article link Save Facebook Twitter WhatsApp LinkedIn SMS Email Print Copy article link Save In 2020, the COVID-19 pandemic brought global manufacturing to a screeching halt. The disruption of production was the primary factor: A spiral of suppliers shutting down temporarily or permanently as employees and workers were called upon by business owners and government agencies to stay at home. Param Singh, Vice President, Oberon Securities LLC Liz Ligon This, in turn, led to a significant disruption

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