Uncertainty still hangs over supply chains and is pushed further due to skyrocketing fuel prices, exorbitant shipping costs and continuous COVID-19 lockdowns globally. Nearshoring is said to be the 'epic', 'strategic' response to the long-withstanding situations that continue to disrupt global supply chains. It is being used to reshape supply chains, especially in the West, as they go all out to stay afloat in testing waters.
Between transportation delays, pandemic-related factory shutdowns and geopolitical tension, global supply chains have never been more vulnerable. Volatility became the new normal. The farther a supplier is from a buyer, the more opportunity for disruption.
Nearshoring involves shifting manufacturing facilities closer to home, and is the complete opposite of 'offshoring' manufacturing, often halfway across the world.
According to Dylan Alperin, Keelvar's Head of Professional Services, "Moving supply chains closer to home not only reduces the risk of external events creating delays, shortages and more for supply - it also increases procurement teams' visibility into their supplier relationships, makes it easier for them to ensure criteria such as reliability and sustainability are met, and enables them to quickly react to market changes and fluctuating demand."
In my signature style, let's go into a brief flashback.
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Denne historien er fra February 2023-utgaven av Logistics Insider.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Coldman Logistics launches 7,000 Pallets Capacity Temperature Controlled Warehouse in Kolkata
Understanding the need to address the capacity demands in the cold chain sector and to improve the overall cold chain infrastructure, Coldman Logistics has recently announced the launch of its new state-of-the-art temperature-controlled warehouse with a capacity of 7,000 pallets in the capital city of West Bengal.
FACELESS ASSESSMENT
A Right step, but still a long way to EODB
MODI NATURALS Doing it Right
Commencing its journey in 1974, getting listed at the Bombay Stock Exchange, and entering the consumer division in 2012 with the brand Oleev, Modi Naturals Ltd. has come a long way. Over the years, the organisation has been adding new product portfolios to its lineage that have now become household names.
People-centric Digital Supply Chains For The Win
As tech innovation continues to make life easier, the debate about the inescapable future of Al continues, putting into question the role and importance of people. Many believe that as tech develops, it will be the answer to all the problems. While the efficiency and consistency brought by technology into a business are unquestionable, we see if that is enough. We explore the importance of people in the supply chain and logistics ecosystem and take the word from the experts that people-centric digital innovation is the need for modern supply chain.
Emerging Markets Logistics Outlook 2023-Asia
While 2022 marked a slow economic recovery from the Covid-19 disruptions, 2023 W will see international markets still struggling to break free of the financial quicksand created by the pandemic.
"THE LAUNCH OF AMAZON AIR WILL HELP US DELIVER AN EVEN WIDER SELECTION FASTER"
Amazon has been at the forefront of the global e-commerce industry and has made significant contributions to its supply chain in all regions it operates in. Same goes for India, where Amazon has been picking up investment pace in terms of warehouses and transportation.
NEARSHORING Supply Chains' New Kid on the Block?
As the pandemic crippled supply chains around the world, industry leaders realised the urgency of improving connectivity with their buyers and suppliers. Adding fuel to the fire are the COVID-related restrictions on entry and exit into China even two years after the disease took over the world and the war between Russia and Ukraine which led to several disruptions in cargo movement through Eastern Europe. In such a scenario, Nearshoring gaining strength as a concept seems only fair and obvious. With this piece, we try to simplify as well as gauge the concept in its entirety.
AMWAY INDIA Keeping customers, suppliers and the environment close in the walk towards success
Operating since over two decades in India, Amway offers around 10 brands and thousands of SKUs in nutrition, home, beauty and personal care products. It also takes pride in its contributions towards Make in India and driving a sustainable supply chain. With a global presence in more than 60 countries Amway's complex supply chain network includes a global warehouse management platform that improves inventory management and traceability, increases throughput and helps standardise business processes worldwide. In this interview with Logistics Insider, Rahul Gupta, Senior Vice President Procurement (Europe, India & Central Asia), Amway India gives insights into some interesting facets of their supply chain.
2023 WORD OF THE YEAR ADAPTABILITY
Volatility, uncertainty, complexity and ambiguity make up the VUCA world and a critical trait to sustain in this world is adaptability. A trait that enables supply chain leaders across the world to upgrade the way they work and enable business. continuity. With back to back disruptions becoming a norm of the new post-pandemic world, adaptability has emerged as a keyword in the books of supply chain leaders. In our cover story this month, we asked a few of such leaders about their thoughts on adaptability, its potential and the way it is transforming traditional supply chains.
"More Hits Than Misses" INDUSTRY REACTS TO THE BUDGET
The major aspects of this year's Budget, which are connected to the supply chain and logistics sector, will focus on promotion of railways and coastal shipping as cost and energy efficient modes of transportation, creation of critical transportation infrastructure, urban infrastructure development, sustainable development (green growth), creation of skilled workforce, providing support to MSMEs and revamping the tax and duties structure. In this special feature, we take a look at what the industry thinks about Sitharaman's proposals this year.
