Global reshoring and near-shoring efforts have become so commercially successful that companies are reportedly “scrambling” to find facilities in the United States and Mexico rather than taking a wait-and-see approach. This information was first revealed in Kearney’s “10th Annual Reshoring Index Report” released April 13.
Kearney’s survey reported that 96% of responding CEOs are considering reshoring their operations, or have decided to reshore their operations, or have already reshored their operations, a significant increase from 78% in 2022.
In 2022, U.S. imports of manufactured goods from the 14 Asian LCCs and regions tracked totaled 14.1% of U.S. domestic gross manufacturing output, down from 14.49% in 2021, said Patrick Van den Bossche, Kearney’s Global Advanced Analytics Practice Lead. Van den Bossche said the data marks “the first time that domestic manufacturing growth outpaced Asian LCC imports growth since 2019.”
Omar Troncoso, a partner in Kearney’s consumer and retail practice, said the report showed we “finally seem to be heading toward a sustained reshoring movement.” He added that reshoring, in which manufacturing and suppliers are moved to the U.S., allows companies to rethink “how they construct and operate a supply chain that will carry them forward into the next decade.”
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