The coronavirus (COVID-19) has compelled U.S.-based manufacturing businesses to reevaluate many operational considerations that once seemed like sound decisions. At the forefront of these is whether offshoring their production and manufacturing processes still makes sense.
Offshoring was an immensely popular business strategy in the 1990s and early 2000s given cheap labor forces beyond U.S. borders. That said, the environment has shifted over the past decade or so, and as uncertainty continues to swell around the COVID-19 pandemic, this once simple decision has become a big question mark for many businesses.
So, what’s in your best interests? If your manufacturing business has been offshoring production, this article covers three reasons why you may want to consider reshoring.