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The trend toward more "nearshoring" to alleviate the global supply chain chaos is not new but is increasingly important, according to Deloitte Vice Chairman of US Industrial Products ...
In just one year, China's trade surplus with the US alone rose to $335.5 billion in 2021, up from $308.1 billion in 2020. [12] [13] The supply chain crisis is a major contributing factor in the 2022 United States infant formula shortage, [14] the tampon shortage [15] and various drugs shortages. [16] [17]
For supply chain management, a centroid is a location with a high proportion of a country's population and a high proportion of its manufacturing, generally within 500 mi (805 km). In the US, two major supply chain centroids have been defined, one near Dayton, Ohio, and a second near Riverside, California. [citation needed] [82]
A study conducted in 2017 researched the correlation between supply chain position (how close or far the firm is from the end user in the supply chain) and firm performance. The study findings concluded that suppliers located farther upstream in the supply chain (farther from the end user), had the most to gain financially from sustainable ...
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Supply chain resilience has been identified as an important business issue. The United Kingdom's Confederation of British Industry reported in 2014 that a significant number of businesses had reshored parts of their supply chain to European locations, with many identifying supply chain resilience as "a key factor in their decision to do so". [47]
Supply-chain risk management is aimed at managing risks in complex and dynamic supply and demand networks. [1] (cf. Wieland/Wallenburg, 2011)Supply chain risk management (SCRM) is "the implementation of strategies to manage both everyday and exceptional risks along the supply chain based on continuous risk assessment with the objective of reducing vulnerability and ensuring continuity".
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