WEBVTT 1 00:00:00.208 --> 00:00:03.003 As the global manufacturing landscape shifts, 2 00:00:03.003 --> 00:00:04.754 one figure stands out. 3 00:00:04.754 --> 00:00:06.256 Only 55% 4 00:00:06.256 --> 00:00:09.426 of manufacturers are meeting the goals set out in their own 5 00:00:09.426 --> 00:00:10.927 footprint strategies. 6 00:00:10.927 --> 00:00:13.179 What does this mean for North American manufacturers? 7 00:00:19.019 --> 00:00:20.812 Companies reaping the mass of rewards 8 00:00:20.812 --> 00:00:23.565 of an advantaged manufacturing footprint 9 00:00:23.565 --> 00:00:25.358 have three things in common. 10 00:00:25.358 --> 00:00:28.987 One, they take an integrated market-back approach rather 11 00:00:28.987 --> 00:00:31.990 than piecing together a strategy through one-off moves. 12 00:00:31.990 --> 00:00:33.992 Two, they set clear objectives 13 00:00:33.992 --> 00:00:36.828 that trade off multiple strategic considerations, 14 00:00:36.828 --> 00:00:38.371 including cost, of course, 15 00:00:38.371 --> 00:00:42.751 but also lead time, resiliency, labor, and sustainability. 16 00:00:44.210 --> 00:00:47.088 And three, they take a long-term view, 17 00:00:47.088 --> 00:00:49.424 building up the local supply base, getting ahead 18 00:00:49.424 --> 00:00:51.176 of emerging manufacturing hubs, 19 00:00:51.176 --> 00:00:53.470 and investing strategically at favorable times. 20 00:00:54.429 --> 00:00:56.222 The steps companies take now 21 00:00:56.222 --> 00:00:59.142 to evolve their manufacturing footprint could help them 22 00:00:59.142 --> 00:01:02.228 build a sustained competitive advantage for years to come.