Tariffs continue to cause great stress in the financial markets and with certain industries. In fact, it divides manufacturers from distributors, logistics, and goods movement industries largely dependent on imports and trade.
Smart proactive companies are moving supply chains from global to local - or regional at a minimum. Yet the best companies are doing that while also focusing on resiliency. Our best clients are getting ahead of the pack with proactive strategies to move towards local with resiliency.
LMA Consulting Group, Inc., a leader in manufacturing strategy and supply chain transformation, led by Lisa Anderson, MBA, CSCP, CLTD, joins the national spotlight for Manufacturing Month by highlighting the renewed strength and strategic importance of U.S. manufacturing.
Companies are only as strong as the weakest link in their supply chain. If you dig further into your supply chain, it is likely you will find dependencies on rare earth minerals. Read about strategies to scale rare earth production rapidly.
The economy has a distinct impact on manufacturing. Although U.S. manufacturing has gone sharply down with offshoring for lower wages, less regulations, and fewer hurdles, there remains a base crux of manufacturing might that is turning into a renaissance with favorable tax, tariff and interest rate policies.
A manufacturing boom is on its way. Although it might not appear so according to clients' SIOP (Sales Inventory Operations Planning) models with weaker clients' backlogs and hesitant customers, we have no doubt it is imminent.
We have noticed that clients that think long-term are far more successful than those that respond to events as they occur. Companies that think long-term surpass the rest as they are ready for changing conditions and leverage opportunities for success.
Over the last two weeks, we participated in three supply chain summits, conferences and/or annual meetings (with a west coast bent), and so we thought we'd pass on the key highlights and action items most relevant to our clients and colleagues.
Success or failure will depend on your talent. If you wait for stability to invest in talent, your competition will pass you by.
As companies navigate the current risk-laden global environment, regional supply chains have increased in popularity. The wars in Russia-Ukraine and the Middle East have spurred concerns about the risks associated with global supply chains.
