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IS NEARSHORING THE RIGHT SUPPLY CHAIN SOLUTION FOR YOU?

Global supply chain strain and shortages, combined with geopolitical pressures,
are pushing more US manufacturers to nearshoring. How do you determine if the
benefits of relocating elements of your supply chain or creating a nearby mirror
supply chain are worth the costs? And if nearshoring your strained manufacturing
supply chain is the path you take, how do you execute it quickly while
mitigating risk?

CONSIDERATIONS FOR SWITCHING TO NEARSHORING

 1.  CAPITAL PLANNING
    
    Nearshoring your currently offshored supply chain is a big change. It
    requires a thorough examination of your capital capacity for building new
    infrastructure, and accounting for what to do with the supply chain
    infrastructure you leave behind. Capital planning in this process requires
    precision, liquidity, and proper scenario planning for risk mitigation. Make
    sure your finance team has the data and tools it needs to complete this
    pivotal process.

 2.  LABOR PLANNING
    
    The reason so many US companies have taken their manufacturing and supply
    chain operations overseas is the lower cost of labor. That will still be the
    case. On paper, labor vs. transportation may still show offshoring as
    favorable. What that may not account for are the inflated emergency costs
    incurred when your single-threaded supplier has issues, when port delays and
    international lead times ramp up in-transit inventory glut, or when new
    trade regulations spike costs overnight. Scenario planning can help
    understand the operational and financial impact of the outlier cases that
    are becoming more common every day.
    
    Once you’ve determined that the benefits of changing are worth the costs,
    you need to go about planning and hiring an almost entirely new workforce in
    the location you choose. This is a heavy lift for your recruiting and
    training teams and will have a direct impact on your operations. Operating
    in a new country may mean encountering unfamiliar regulations and labor
    laws. Be aware before you decide to nearshore of the cost of building and
    maintaining this new workforce. If you don’t have an efficient, transparent
    way of planning for and communicating workforce changes between the finance
    and operations sides of your company, you may end up with a confused,
    inadequate nearshoring operation that costs you more than it saves.

 3. RAW MATERIAL AVAILABILITY
    
    One of the factors in the currently strained supply chain environment is the
    availability of raw materials and the geopolitical repercussions of their
    origins. Silicon, for example, is a key component of semiconductors and is
    primarily sourced from the Xinjiang region of China, where allegations of
    human rights violations against the Uyghur minority population have
    triggered multiple sanctions and bans. If you are looking to nearshore your
    operation due to supply chain complications and strain, make sure that your
    raw material suppliers are accounted for. Nearshoring goods by manufacturing
    in Mexico is still complicated if your raw materials are in China and facing
    complicated government scrutiny. On the flip side, if you can nearshore your
    operations and source your raw materials from reliable locations less likely
    to face US trade hostility (often referred to as ally-shoring), you can
    avoid congested ports and lengthy customs procedures.
    
    4. ESG
    
    Nearshoring is not only an opportunity for your company to save on transport
    costs and reduce supply chain friction, but it is a prime chance to boost
    your company’s reputation when it comes to matters of ESG—especially the E.
    Reduced transport times mean reduced fuel, reduced emissions, reduced
    chances for chemical spills or pollution. Building a new manufacturing and
    supply chain operation in a nearby country is also a chance to refresh your
    supply network and examine it for sustainable, ethical practices and provide
    this transparency to your consumers.

EFFICIENT EXECUTION

Conducting a proper cost/benefit analysis for some of these points requires a
depth of data transparency and insight that you may not currently have. Empower
your organization to make data-driven decisions through platforms that give you
the holistic insight, forecasting, and planning capabilities that you need. A
platform like Anaplan can provide you with robust capital and labor planning
capabilities while also giving you an eagle eye into your supply chain.

Other applications, such as Coupa Supply Chain, offer you network optimization
by giving you access to supplier and sourcing data, including transportation and
logistics costs.
Spaulding Ridge is not only an Anaplan premier partner and Coupa technology
partner, experienced in fast, efficient implementations, but also a provider of
cutting-edge ESG transparency and enablement solutions you can leverage to make
the most out of the opportunity to maximize your company’s ESG reputation.

If you’re looking to optimize your manufacturing and supply chain operations
through nearshoring, let Spaulding Ridge help you get there. Contact Joe Kontak
or Kyle Rish to explore how you can start your nearshoring efforts with
confidence.


Joe Kontak
Director, Spaulding Ridge

ABOUT THE AUTHOR

Joe Kontak is a Spaulding Ridge Director focused on supply chain initiatives for
Anaplan and Coupa. Prior to joining the firm, he spent 9 years leading supply
chain operations and digitization efforts in the Food & Bev, CPG, and Chemicals
industries. His functional experience spans from plant-level manufacturing to
E2E logistics network design.

Kyle Rish
Managing Partner, Spaulding Ridge

ABOUT THE AUTHOR

Kyle is a Managing Partner in Spaulding Ridge’s Operations & Procurement team.
An expert in supply chain optimization who has held roles at Apple and PepsiCo,
Kyle combines his on-the-ground expertise with his technical knowledge to
deliver flexible, efficient supply chain solutions. He works with clients
throughout, from conceptualizing the solution based on supply chain best
practices and on the company’s needs through ensuring a successful deployment
and adoption.


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