• Advertise
  • Contact Us
  • About Us
  • Supplier Directory
  • SCB YouTube
  • Login
  • Subscribe
  • Logout
  • My Profile

  • CORONAVIRUS
  • LOGISTICS
    • Air Cargo
    • All Logistics
    • Express/Small Shipments
    • Facility Location Planning
    • Freight Forwarding/Customs Brokerage
    • Global Gateways
    • Global Logistics
    • Last Mile Delivery
    • Logistics Outsourcing
    • LTL/Truckload Services
    • Ocean Transportation
    • Rail & Intermodal
    • Reverse Logistics
    • Service Parts Management
    • Transportation & Distribution
  • TECHNOLOGY
    • All Technology
    • Artificial Intelligence
    • Cloud & On-Demand Systems
    • Data Management (Big Data/IoT/Blockchain)
    • ERP & Enterprise Systems
    • Forecasting & Demand Planning
    • Global Trade Management
    • Inventory Planning/ Optimization
    • Product Lifecycle Management
    • Sales & Operations Planning
    • SC Finance & Revenue Management
    • SC Planning & Optimization
    • Sourcing/Procurement/SRM
    • Supply Chain Visibility
    • Transportation Management
  • GENERAL SCM
    • Business Strategy Alignment
    • Education & Professional Development
    • Global Supply Chain Management
    • Global Trade & Economics
    • HR & Labor Management
    • Quality & Metrics
    • Regulation & Compliance
    • SC Security & Risk Mgmt
    • Supply Chains in Crisis
    • Sustainability & Corporate Social Responsibility
  • WAREHOUSING
    • All Warehouse Services
    • Conveyors & Sortation
    • Lift Trucks & AGVs
    • Order Fulfillment
    • Packaging
    • RFID, Barcode, Mobility & Voice
    • Robotics
    • Warehouse Management Systems
  • INDUSTRIES
    • Aerospace & Defense
    • Apparel
    • Automotive
    • Chemicals & Energy
    • Consumer Packaged Goods
    • E-Commerce/Omni-Channel
    • Food & Beverage
    • Healthcare
    • High-Tech/Electronics
    • Industrial Manufacturing
    • Pharmaceutical/Biotech
    • Retail
  • REGIONS
    • Asia Pacific
    • Canada
    • China
    • Europe
    • Latin America
    • Middle East/Africa
    • North America
  • THINK TANK
  • WEBINARS
    • On-Demand Webinars
    • Upcoming Webinars
  • PODCASTS
  • VIDEOS
  • WHITEPAPERS
Home » Reshaping Beats Out Reshoring of Global Supply Chains, HSBC Says

Reshaping Beats Out Reshoring of Global Supply Chains, HSBC Says

Reshaping Beats Out Reshoring of Global Supply Chains, HSBC Says
July 22, 2020
Bloomberg

Globalization wobbled in the pandemic, even failed on some counts as the coronavirus spread around the world, but the changes companies are planning to strengthen their sprawling supply chains don’t suggest a big retrenchment from their overall strategy of international commerce.

That’s one way to read the results of an HSBC Holdings Plc survey of 2,604 companies in 14 nations and territories. The questions reached companies during some of the darkest days of lockdowns and soaring death tolls, from April 28 to May 12.

Two-thirds of respondents said their biggest priority was increasing control of their supply chain, the survey showed. But only 17% said shrinking their geographic footprint was the way to do it, and just as many are looking to expand their supplier base for more diversity regionally. Digitization, automation, better data and timelier technology were ways cited to prevent the supply failures in the future.

“What we’re seeing in reality is actually there isn’t that much reshoring going on — there is reshaping and restructuring,” said Natalie Blyth, HSBC’s global head of trade finance. “You can see some of the old national champion approach coming back in, but it’s not viable globally to produce everything that our nation needs onshore.”

In the middle of the crisis, governments that raised export controls and other trade barriers on medical equipment quickly found that to be a losing strategy. Countries will probably move to stockpile medical equipment and raw materials, like the ingredients needed for 3D printing of protective gloves.

For all its disruptions, the successes of the past six months have been a prelude to a more formidable challenge in the months ahead, Blyth said. The pandemic’s supply shock, the knee-jerk protectionism and the collapse in demand that followed — they were all just the warm-up for the big test of globalization’s resilience: delivering the vaccine.

“What we have seen through Covid is extraordinary collaboration between competitors, between supply chains — people really caring about the whole end-to-end of the supply chain,” she said. “And that is what you’re going to see being absolutely necessary from a vaccine perspective.”

RELATED CONTENT

RELATED VIDEOS

  • Related Articles

    Trade War Costs Global Supply Chains 3-5 Years of Growth, UN Says

    The Pandemic Is Masking Risks of Slavery in Global Supply Chains

Bloomberg

Biggest U.S. Ports Rank as World’s Least Efficient for Containers

More from this author

Wake up to live
“Supply Chains in Crisis”
updates and the latest Supply Chain News!

Subscribe to our Daily Newsletter

Timely, incisive articles delivered directly to your inbox.

Popular Stories

  • digital work

    Supply Chain Managers Are Quitting in Unprecedented Numbers

    Coronavirus
  • North Jakarta, Indonesia

    Physical, Financial Visibility: A Dual Approach to Supply Chain Resilience

    Supply Chain Planning & Optimization
  • Diversity in the Workplace

    Supplier Diversity Certification Is More Art Than Science

    Sourcing/Procurement/SRM
  • shopping

    Want to Put a Stop to Counterfeit Goods? Take a Picture

    Supply Chain Visibility
  • Amazon

    Amazon Aims to Sublet, End Warehouse Leases as Online Sales Cool

    Logistics

Digital Edition

Scb may 2022 sm

2022 Supply Chain ESG Guide

VIEW THE LATEST ISSUE

Case Studies

  • 3PL Doubles Productivity With Robots to Fulfill Medical Supply Orders

  • E-Commerce Company Cuts Order Fulfillment Time by 40%

  • Fashion Retailer Halves Fulfillment Time With Omichannel Automation

  • Distributor Scales Business by Integrating Warehouse Automaton Software

  • Fast-Growing Fashion Brand Scales E-Commerce Fulfillment With Whiplash

Visit Our Sponsors

Yang Ming Alithya Barcoding
Blue Yonder BNSF Logistics Generix
GEP GIB USA GreyOrange
Here Honeywell Intelligrated Inmar
Keelvar Kinaxis Korber
Liberty SBF Locus Robotics Lucas Systems
Nvidia Old Dominion Parsyl
Redwood Logistics Saddle Creek Logistics Schneider Dedicated
Setlog Holding AG Ship4WD Shipwell
Tecsys TGW Systems Thomson Reuters
Tive Trailer Bridge Vecna Robotics
Whiplash    
  • More From SCB
    • Featured Content
    • Video Library
    • Think Tank Blog
    • SupplyChainBrain Podcast
    • Whitepapers
    • On-Demand Webinars
    • Upcoming Webinars
  • Digital Offerings
    • Digital Issue
    • Subscribe
    • Manage Your Subscription
    • Newsletters
  • Resources
    • Events Calendar
    • SCB's Great Supply Chain Partners
    • Supplier Directory
    • Case Study Showcase
    • Supply Chain Innovation Awards
    • 100 Great Partners Form
  • SCB Corporate
    • Advertise on SCB.COM
    • About Us
    • Privacy Policy
    • Contact Us
    • Data Sharing Opt-Out

All content copyright ©2022 Keller International Publishing Corp All rights reserved. No reproduction, transmission or display is permitted without the written permissions of Keller International Publishing Corp

Design, CMS, Hosting & Web Development :: ePublishing