As the global manufacturing landscape shifts,
one figure stands out.
Only 55%
of manufacturers are meeting the goals set out in their own
footprint strategies.
What does this mean for North American manufacturers?
Companies reaping the mass of rewards
of an advantaged manufacturing footprint
have three things in common.
One, they take an integrated market-back approach rather
than piecing together a strategy through one-off moves.
Two, they set clear objectives
that trade off multiple strategic considerations,
including cost, of course,
but also lead time, resiliency, labor, and sustainability.
And three, they take a long-term view,
building up the local supply base, getting ahead
of emerging manufacturing hubs,
and investing strategically at favorable times.
The steps companies take now
to evolve their manufacturing footprint could help them
build a sustained competitive advantage for years to come.