In a recent survey released by Capterra, reports show that small and mid-size U.S. businesses are increasingly considering moving their supply chain efforts closer to home. But why is this happening?
Are companies looking to be more conscious of product quality? Is it in an effort to make smarter economical choices with the possibility of financial devastation looming over our nation? Or is it something else?
We are going to dive deeper into the survey’s results and discuss why small and mid-size businesses want to move their supply chain efforts closer to home.
What’s Happening
Optimization and innovation are two of the most significant defining reasons behind the impending switch. It also comes along with increasing complications facing the supply chain industry.
On the forefront of the desire for optimization and innovation comes more companies investing in software vs hardware. The Internet of Things is one of the highest emerging tech solutions that companies are investing in.
According to the same survey by Capterra, professionals within the supply chain industry gave astonishing rates to rising issues. They rated inflation at 65%, lack of inventory at 45%, and a looming recession at 42%. The industry professionals gave these as their reasonings for concern going into the new year.
How it Benefits
One of the most significant benefits of moving the supply chain closer to home is reducing costs. And how it does this is by eliminating many hidden fees that occur when having your supply chain matters overseas.
Additionally, the switch can increase your flexibility. With reshoring and a more localized chain, you have a better opportunity to recognize risks, which allows you to make fast and precise decisions.
Should You Consider The Same
Now the burning question our readers may have, is if they should do the same. Is it beneficial to move your supply chain operations closer to home? And the truth is, yes.
Before making the big reshoring switch, you must analyze your goals and needs. You need to dig deep into your company’s data and statistics regarding expenditures when it pertains to supply chain matters. After you gain this information, you can take a closer look at what local options are available and draw comparisons to make the appropriate choice for your business.
Overflo Is Your Mid-Atlantic Logistics Solution!
If you want to start localizing your supply chain, start with logistics! Overflo is a third-party logistics warehouse that services The Mid-Atlantic Area.
It is our mission to help large and small business owners make strides in improving their logistics and warehousing. We offer a variety of services, including warehousing, distribution, order fulfillment, logistics, and much more. To help you make the strides you desire, we customize these services to suit your company’s unique needs.
At Overflo, we utilize the latest tech alongside tried and true methods to form a well-rounded approach to logistics. You can count on us to guide you through tough logistics issues.
Contact Overflo today to receive a free rate quote and learn more about how we can help you!