In light of the recent coronavirus pandemic, it has become much more cost-effective for manufacturers to source locally rather than nationally or internationally. A recent article published by Thomasnet examines why local sourcing is the best choice for manufacturers.
According to the article, local sourcing is good for manufacturing supply chains because it provides:
- Greater ability to scale, faster turnaround times, and easier coordination.
- Increased control via face-to-face interactions and better communication.
- Lower costs associated with avoiding the logistics of international shipping and storage fees.
- Additional marketing opportunities via presence in the local community, leading to higher revenue.
- A boost to the local economy that can positively impact operations.
- A positive impact on the environment, resulting in increased goodwill and customer loyalty.
- Greater turnaround time for launching new products.
For full details, click here to read the article at Thomasnet.
