target audience: TECH SUPPLIER Publication date: Aug 2023 - Document type: Market Perspective - Doc Document number: # US50855723
Nearshore/Onshore Strategies: A Hedge for Supply Chain Disruption or a New Problem?
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Abstract
This IDC Market Perspective discusses nearshore and offshore strategies in the supply chain. If you're wondering whether implementing nearshoring/onshoring strategies will add benefits to your supply chain or create new problems, the answer is yes.
Nearshoring/onshoring can reduce supply chain disruption risk, grant access to protectionist markets or locally conscious consumers, and improve speed to local markets. It can also introduce added complexities and costs and challenge your ability to optimize inventories. It is well worth considering but will take higher-level strategic thinking and likely requires the analytical tools to build decision models to implement successfully.
"The sting of lockdowns causing worldwide supply chain disruption, followed by geopolitical tensions, expanding protectionism, global macroeconomics, labor shortages, and potential ESG regulations are all driving C-suite and supply chain executives to remain focused on sourcing strategies." — Eric Thompson, research director, Worldwide Supply Chain: Planning and Multi-Enterprise Networks, IDC