My recent episode from my new video series related to “What’s Happening?” in manufacturing and supply chain addresses reevaluating production outside of the U.S. There has been a lot of activity lately impacting sourcing decisions. Just consider the new phase 1 trade deal with China, offset by a very worrisome law that went into affect in China in December related to data privacy (and lack thereof!) and a BIG win for manufacturers with the new USMCA trade deal with Mexico and Canada. Are you staying up-to-speed on these essential changes and trends?
Our most successful clients are on top of it! In fact, they are typically ahead. In today’s Amazon-paced, customer-centric world, it is no longer an option. You must be proactive just to survive. Get out of your chair and attend a key industry event, join us at our next Harvey Mudd executive roundtable to discuss the digital transformation and related impacts and network with peers, say yes to participating in the latest economic forecast event or the like. In addition, read highlights about the latest technologies and how they might impact your industry, seek out experts who can help you think through the top priorities in today’s Omni-channel world (whether related to you or not; you’ll pick up valuable insights to apply regardless), take your trusted advisors to lunch and ask them for their insights and more. The bottom line is you must be informed, proactive, collaborative and agile.
When it comes to thinking about your supply chain strategy, don’t get side tracked with all the hoopla. As Roy Paulson said in our 2019 predictions document (my favorite quote), “As a view looking forward in these auspicious times, expect to see more talk of tariffs, threats and waving of hands, all the while, those of us in exporting will be busy making deals, signing contracts and getting business done.” I cannot tell you how true this statement is across the board. Thus, instead of getting into debates and moaning about your current situation, put a plan in place to thrive amidst the chaos.
As it relates specifically to China, China alternatives and our North American neighbors, watch our interview with John Tulac, international business attorney to learn more. We had a great time talking philosophy and throwing out issues and ideas on how to navigate China. I’ve committed to sharing widely to get the word out. I believe fully in being upfront and proactive, and I hope you’ll join with us in spreading the word of caution. This topic also squarely fits with our new theme on future-proofing your manufacturing operations and extended supply chain. Contact us to discuss further.