Aug 15, 2023 - Economy

Share of companies nearshoring their supply chains tripled this year — survey

Data: McKinsey; Chart: Axios Visuals
Data: McKinsey; Chart: Axios Visuals

The share of companies making moves to nearshore their production nearly tripled this year, according to McKinsey's annual survey of supply chain leaders, out Tuesday morning.

Why it matters: Supply chain resiliency is still a buzzword in corporate boardrooms — it didn't fall away as COVID-related snarls dissipated.

  • Nearshoring, or moving production closer to the end consumer, is now a bigger priority as many executives try to be more prepared for the unexpected — and as geopolitical tensions rise, Enno de Boer, senior partner at McKinsey, tells Axios.

Zoom out: Over the last decade, supply chains have become too complicated — zipping goods back and forth across the globe before they're consumer-ready, says de Boer.

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