Globalization offers countless opportunities for companies to expand market share, and increase revenues and profits. But for businesses to operate seamlessly across borders, it’s critical their supply chains experience no disruptions.
For decades, the relationship between American companies and China was relatively uncomplicated: The world’s most populous country served as the best base for low-cost manufacturing of goods for the U.S. market and as a rising market for American products ranging from commodities to smartphones and other consumer goods. But this relationship has been changing rapidly, and growing more complex by the day.
The West Coast ports slowdown may be over for now, but it wreaked enough havoc to give CEOs from the Pacific to the Atlantic pause. And many are concluding that it’s time to take a closer look at their supply chains.
One of the last major business successes of 2014 was how America’s biggest parcel shippers, UPS and FedEx, returned to form and made sure nearly all of their express packages were delivered across the United States by Christmas, after failing miserably at that task the year before.
Four steps to gaining—and hanging onto—operational excellence.
“Made in the USA” is a hot pursuit for manufacturing CEOs these days. By 2015, the Boston Consulting Group predicts that cost advantages over parts of Asia and Europe will drive more companies back to the U.S. generating as many as 5 million manufacturing jobs by the end of the decade.
Manufacturers are constantly looking at new technologies to improve processes, cut costs and expand the breadth and depth of products they provide to customers. But how do you decide on the best way to get access to the needed technology?
Everyone is talking about reshoring these days. Last week, there was an entire conference dedicated to the subject at Mississippi State University. In attendance was the Mississippi Merchandise Manager for Walmart, who said, “We have made the commitment that in the next 10 years, we are going to purchase an additional $250 billion of U.S. manufactured goods.”