The increasing frequency of "black swan" events such as the semiconductor shortage and Ever Given incident have prompted a closer look at traditional supply chain models and their resistance to global shocks. Within the United States, manufacturers are starting to reimagine how they leverage these global networks to their advantage in tandem with the federal government.
Within the last few decades, the offshoring frenzy that emerged out of increasing globalization centered around the cost of labor and goods, bringing China into the forefront of the global economy, and allowing the United States and others to maximize margins by lowering operating costs at home. However, under the new Biden Administration plan, which provides millions of dollars’ worth of incentives to re-shore American manufacturing, it appears the pendulum is poised to swing back to stateside domestic production.
Seraph Founder Ambrose Conroy and Analyst Louise Lu recently wrote a piece for Industry Today detailing China’s emergence in global manufacturing, and the need for U.S companies to develop a more robust domestic supply chain capable of weathering global shocks. Seraph provides strategic consulting for companies across a variety of industries with a deep bench of industry experts across the world that stand ready to execute on the most complex business challenges.