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