Inside: Mitigate the Risks of Supply Chain Disruption//Shoring Up Operations for Growth
areadevelopment-logo-black.png
Site & Facility Planning
Insider
Friday, May 28th, 2021
twitter-black.png
linkedin-black.png
Realigning the Supply Chain to Respond to Risks

The global pandemic forced companies to think about the risks in their supply chains. A presidential executive order of Feb. 24th looks to review supply chain vulnerabilities, especially for critical technologies like pharmaceuticals. In fact, in March, President Biden proposed rewarding companies that invest at home. He’s also calling for the creation of a new office within the Department of Commerce to monitor domestic industrial capacity.

Some companies have already begun to realign their supply chains to move operations closer to the U.S. — if not back on U.S. soil itself., i.e., near-shoring or reshoring. Utilizing a local supply chain increases a firm’s flexibility to respond to market demands, allowing companies to order more — or fewer — quantities from suppliers on short notice. And some of the advantages that originally drove manufacturers to offshore their operations, e.g., lower cost labor, are disappearing as wages in China and other Asian countries rise.

One high-profile example of corporate reshoring is Stanley Black & Decker, which moved production of its Craftsman wrenches, ratchets, sockets, and more back to the United States from China. The company is building a 425,000-square-foot facility in Fort Worth for that purpose. The company’s Global Marketing Director Allan Snider told Area Development, “I can’t speak for other companies, but if reshoring allows them to better serve their customers, it is an option they should explore.”
id52044_McCandles-Scott50x54.jpg Scott McCandless , U.S. Trade Policy Leader , PwC id80450_Hermans-Mark50x54.jpg Mark Hermans, Managing Director, PwC
There are four steps businesses can take now to prepare proactively for policy changes. Read More.
id93552_jeff.jpg Jeff Jorge, Principal; International Growth Services Practice Leader , Baker Tilly Virchow Krause, LLP id93002_Hutcheson-Thane50x54.jpg Thane J. Hutcheson, Director, Baker Tilly
Both domestic and foreign companies with operations abroad are realigning their supply chains and moving operations closer to the U.S. in order to strategically position themselves for growth. Read More.
vc?z=areadev&kw=662300&click=&session=no&ajkey=33662300*|UNIQID|*&b=662303&c=662300

The Saxe Gotha Industrial Park, located at the junction of Interstate-26 and Interstate-77 in the center of South Carolina, is home to Amazon, Nephron Pharmaceuticals, Dominion Energy, Kennedy Innovation Complex and the Lexington County, SC Speculative Building. Lot 3 (featured above) within the Saxe Gotha Industrial Park boasts:

  • 68 developable acres

  • Shovel ready

  • Interstate frontage

  • Rail accessible

  • Accessed via 4-lane divided highway

  • 1 mile to Interstate

  • Accommodates nearly 1M SF
id18986_Brian-Gallagher.jpg Brian Gallagher, Vice President, Corporate Development, Graycor Southern
As costs and risks of lengthy supply chains become even more apparent in the wake of the COVID-19 pandemic, more U.S. companies may consider reshoring their operations to the Americas. Read More.
Companies are considering reshoring operations for better supply chain management and are creating jobs in the process. Read More.
Featured Session: Wednesday, June 16th, 2021 at 2:00:00 PM EDT
Consultants Forum Webinar Series: 2021 EV Sessions

Creating The Next Electric Vehicle Manufacturing Hub
1621346100-b45f6e9755c21206.jpg?1621346100
Tom Stringer
Managing Director; Site Selection & Incentives Practice Leader, BDO
Learn More and Register for Series
This newsletter was sent to <<Email Address>> by Area Development.
We send Site & Facility Planning newsletters to Area Development readers who opted in at http://www.areadevelopment.com/ or on a mailed/faxed subscriber card. If you wish to unsubscribe from receiving our Site & Facility Planning newsletters you may use the "unsubscribe" link below. Or, click the "update preferences" link to revise your preferences.
Area Development · 30 Jericho Executive Plaza · Suite 400 W · Jericho, NY 11753 · USA
Copyright (c) 2021 Halcyon Business Publications, Inc.