Broken supply chains are now a discussion topic in video conferences and board meetings. Prior to 2020, most executives viewed the supply chain as an area of cost-saving rather than an area of stability and differentiation. But when you strip costs out of the supply chains you invariably increase risk, and the 2020 pandemic exposed this risk.
Localizing supply chains mitigates these risks, reduces transportation delays, and increases sustainability of the system by reducing carbon emissions. To make supply chains more sustainable and cost-effective, companies need to see and itemize every step in their supply chain — from where every piece is manufactured, to how the product is packaged and how that product gets delivered to the end user.