We have seen our economy devastated by the Coronavirus and for the first time ever, many consumers want to know where their products actually come from. They want to see the full Supply Chain and question why we are dependent on other countries for manufacturing the supply of so many important goods Manufacturing Dependency. This happened over many years, primarily driven by cost considerations (cheaper to buy products produced in another country where labor is cheap). Sourcing and Purchasing professionals are responsible for this decision. Now, as we consider “Made in America” we will be faced with products costing more due to the higher labor rates of American workers. Will we:
- Find ways to offset the higher cost? If so, how and if it can be done, why hasn’t it already been done?
- Accept paying more for anything American made?
- Continue to buy offshore? If so, will we do anything to help reduce the risk of product shortages in the future?