Global Shift Toward Supply Chain Localization and Reshoring Gains Momentum

Trade & Border IssuesHot Spots
Written By Jennifer Joslyn

🇮🇳🇨🇳 Global Shift Toward Supply Chain Localization and Reshoring Gains Momentum.

The global shift towards supply chain localization and reshoring is gaining momentum as geopolitical tensions, trade issues, energy security concerns, and the pandemic have exposed vulnerabilities in the global supply chain system. Companies and governments are reevaluating their supply chain strategies, with many seeking to diversify their supply chain sources and reduce dependence on a single region or country. Investment in supply chain localization and indigenization is on the rise in various industries, including technology and manufacturing, with countries like India positioning themselves as attractive destinations for supply chain diversification. However, the complexities of reshoring and rewiring supply chains require substantial investment and are expected to take years to fully implement.

Read more from SCMP ▶

Featured
Renewal of the US trade deal is delayed
Renewal of the US trade deal is delayed

The Generalized System of Preferences (GSP) expired in 2020, ending the tariff-free access over 100 countries had to the United States market.

Global ocean carriers are weathering staggering increases in vessel capacity
Global ocean carriers are weathering staggering increases in vessel capacity

Container lines have historically been able to withstand increases in vessel capacity, but a massive increase in capacity could potentially pose challenges for the industry.

De-globalization is being blocked by a world trade “boom”…
De-globalization is being blocked by a world trade “boom”…

Countries that are heavily involved in global trade are more likely to resist calls for de-globalization because they are more aware of the benefits of trade.

The winners for the Power of the Professional Supply Chain awards have been announced
The winners for the Power of the Professional Supply Chain awards have been announced

Gartner has presented the winners of the 4 categories: Patient Innovation, Technology Innovation, Social Impact, and People Breakthrough

The global chip shortage just keeps on keeping on
The global chip shortage just keeps on keeping on

The global economy has been recovering from the impact of the COVID-19 pandemic, leading to an increase in demand for a wide range of consumer and industrial goods that require semiconductors, such as smartphones, laptops, automobiles, and factory automation equipment.

Global executives are expecting AI spending to double over the next three years
Global executives are expecting AI spending to double over the next three years

There is a desperate need growing on a global scale for trusted artificial intelligence as data responsibility comes to the forefront of consumer concerns.

Global gas issues threaten the world’s food supply
Global gas issues threaten the world’s food supply

Food industry manufacturers are refocusing on cutting-edge, artificial intelligence (AI)-based, predictive technology solutions that optimize operations and machine performance despite the geopolitical issues threatening the industry.

Demand for global containers plummets while warehouses sit fully stocked
Demand for global containers plummets while warehouses sit fully stocked

Containers are no longer in hot demand, so retail orders, shipping containers, and ship sailings are being canceled left and right.

Global supply chain expansion depends on improved supply chain agility
Global supply chain expansion depends on improved supply chain agility

Supply Chain Agility is when a multi-enterprise supply chain network platform suppliers order fulfillment applications and advanced risk analytics on a public cloud - available for trading partners to view and analyze.

Solar power is booming, but faces serious challenges
Solar power is booming, but faces serious challenges

Solar power energy grids are setting records across the globe as the European Union pours money and infrastructure into the clean energy source.

Global unrest and rising costs will keep supply chain issues persistent for some time
Global unrest and rising costs will keep supply chain issues persistent for some time

According to the results of a recent SAP SE survey of senior business decision-makers, more than half (52%) believe that the supply chain is in desperate need of improvement.

Russia pulled out of UN-brokered grain deal and the world is not happy
Russia pulled out of UN-brokered grain deal and the world is not happy

Last week, Russia revoked its agreement to the United Nations-brokered deal that was meant to ease a global food crisis and assist in delivering grain from clogged Ukraine ports in the Black Sea.

Shipping industry to ensure difficult, radical change under new climate regulations
Shipping industry to ensure difficult, radical change under new climate regulations

The shipping industry is no stranger to disruptions or change, especially after the past several years.

Rivers worldwide are drying up and risking the global food supply
Rivers worldwide are drying up and risking the global food supply

From the Mississippi River to China’s largest hydro-power plant on the Yangtze River, droughts are affecting how the supply chain is moving along.

International Monetary Fund warns of global recession years after Covid-19 stimulus
International Monetary Fund warns of global recession years after Covid-19 stimulus

The World Economy is looking at a twisted road ahead.

“Sabotage” is the world, but who’s to blame for the Nord Stream explosions?
“Sabotage” is the world, but who’s to blame for the Nord Stream explosions?

As it turns out, a lot of the rest of the world might think that the United States has something to do with it… but you wouldn’t know that if you only browsed domestic news sources.

Spreadsheets are still managing global supply chains
Spreadsheets are still managing global supply chains

Spreadsheets and email may be seen as archaic in the days of robotics and data harvesting systems - but the reality is that most of the largest shippers and suppliers in the world are still relying upon these processes to get work done.

Jennifer Joslyn
Previous

World Bank Report Highlights Rapid Growth and Concerns in Online Gig Work
Next

Shipping Industry Faces Challenges in Securing Carbon-Neutral Fuels for 2030 Emission Targets