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SUPPLY CHAIN DIVE reports:
(The change in tone from U.S.-based supply chains is not a mass exodus from China. Instead, it’s an approach that embraces diversification.)
Editor’s note: This story is part of a series marking Supply Chain Dive’s five-year anniversary. Look back at some of the most important stories in supply chain since 2016 in this round-up.
The “Made in China” label is ubiquitous in the United States, stamped on everything from industrial machinery to a pair of flip flops. But risks — from rising costs, to a trade war, to a pandemic — have prompted companies to rethink their relationships with suppliers and China.
“We’ve realized that we put too much power in a single country,” said Dawn Tiura, CEO of Sourcing Industry Group.
The change in tone from U.S. based supply chains is not a mass exodus from China. Instead, it’s an approach that embraces diversification.
The risks of single sourcing from China had been brewing for years, but they bubbled up even more during the COVID-19 pandemic. In early 2020, manufacturing and supplier operations in many parts of China ground to a halt. The effects rippled across the Transpacific to U.S. importers unable to procure goods…
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Now read this: “Steel prices soar as businesses rush to rebuild supply chains“.
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