Lisa Anderson, LMA Consulting President and Founder, feels there is still a great deal of confusion global supply chains. Anderson joined “Bloomberg Markets” with Caroline Hyde and Paul Sweeney on Friday morning.

(Source: Bloomberg)

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Lisa Anderson provides industry expertise to the Bloomberg Chief Future Officer Interview with Deutsche Post DHL Group Interview Melanie Kreis.

Chief Financial Officers now play a critical role in shaping corporate strategy and positioning organizations to meet future challenges. Bloomberg’s monthly program, Chief Future Officer, profiles these leaders and explores the impact they’re making on their companies and industries. In this episode, Deutsche Post DHL Group CFO Melanie Kreis tells Tom Mackenzie how the the logistics giant has built capital and diversified its portfolio while accelerating growth during the Covid pandemic. (Source: Bloomberg)

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One of the strategies to better plan for the future so you aren’t caught up in what appears to be a never-ending supply chain debacle is to reevaluate your manufacturing and supply chain footprint. Should you re-shore? Near-shore? Partner with suppliers in the region? In essence, the bottom line is you should reevaluate your end-to-end supply chain and determine what makes sense in your situation to be resilient to changing customer conditions while maintaining/ improving profitability and increasing working capital. I recently talked with Bloomberg about these issues (fast forward to 10:15 to view my segment). I’d love your feedback and insights on this topic.

What Should We Consider and/or What Impacts Could Arise?

What better to answer your questions than to listen to the interview. Fast forward to around 10:15.  Click image below to watch the video.

Please keep us in the loop of your situation and how we can help your organization successfully navigate the current volatility and, more importantly, emerge above and beyond. Several of these types of topics are included in our new eBook Emerging Above and Beyond: 21 Insights for 2021 from Manufacturing, Supply Chain & Technology Executives. Download your complimentary copy.

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Are you thinking about your product supply strategy? You certainly should be! I was asked to talk on Bloomberg’s “What’d You Miss?” about reshoring since it is a hot topic in the news. I was also on a webinar with other CEOs and thought leaders recently about the Future of Manufacturing.  The reshoring conversation took the majority of the hour because it was top of mind for manufacturers as well.

The surveys are ‘adding up’:

• According to an EY survey, 83% of executives expect a regionalization of the supply chain.
• According to Supply Chain Dive, 64% of manufacturers say reshoring likely following the pandemic.
• According to Thomas Industrial Survey, 64% of manufacturers are likely to bring manufacturing production and sourcing back to N.A.

It doesn’t matter which survey is your favorite, at least review your product supply strategy in light of your current and most likely future conditions. As I said in my eBook on product supply strategies, there are many reasons compelling manufacturers to look at this topic. A few highlights include:

• Customer demand: Customers don’t care where we produce or source what. They expect immediate delivery of customized products and services.
• Customer changes: Customers expect to change their orders as their customers’ demand changes.
• Total cost: Total cost is in alignment for non-commodity products. Mexico and the U.S. provide good alternatives for customer demand in N.A.
• Working capital: Cash is relevant.  When you account for disruptions in your end-to-end supply chain as well as changing demand, it can become a significant number to watch.
• Risk & Disruption: Look no further than COVID-19 to understand the impacts. Asia shut down for a few months. Mexico and Europe were unable to supply essential businesses in the U.S. according to multiple panels (aerospace executives, large CPG etc.)

With all this said, as I commented on Bloomberg, NOT all situations make sense for reshoring (and certainly not at 100% by tomorrow morning). Instead, use uncommon common sense, conduct a rapid assessment and develop a strategy and path forward. Also, put triggers in place to proactively manage and adjust as needed. If you’d like to discuss further, please contact us.

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Of course, it was very exciting to be featured on Bloomberg’s ‘What’d You Miss?’ show! It speaks to the rising popularity of reshoring that Bloomberg is searching for supply chain experts to talk about reshoring and whether it makes sense.

One Tip to Implement This Week:
As I said on Bloomberg, of course, the answer of whether you should reshore is “it depends”; however, it is becoming quite attractive for many industries and situations. At a minimum, review whether it makes sense to source manufacturing closer to your end customers. If you need a push, look no further than the Amazon-like customer requirements, increasing labor costs in China, the lessening importance of labor costs as the Future in Manufacturing panel discussed, the risk of disruption (tariffs, COVID-19, natural disasters etc.) and more. I discuss this topic in depth in my eBook, Future-Proofing Manufacturing & Supply Chain Post COVID-19. 

Post COVID, disruptions and risk remain elevated as a ship got stuck in the Suez Canal, the Panama Canal experienced a drought, and the Red Sea is in chaos with ships being diverted from the Suez Canal as the war heats up in the Middle East. Geopolitical and supply chain risks are at an all-time high. Thus, smart and proactive executives are optimizing their supply chains with reshoring, nearshoring and focusing on regional supply chains. We have also launched a Supply Chain assessment so that you can evaluate how you are positioned in your supply chain. Knowing where you stand is a critical first step on your journey to optimizing your supply chain.  

June 1, 2020

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