"Everyday comes with great opportunities", believes Terence Ndofor, Sr. Technical Sourcing Manager at Flex.
It’s the end of an era. Globalization, which influenced supply chain for decades, has been replaced by ‘slowbalization’. The term describes the slowing of international trade, investments, loans and supply chain. Because of this decline, we are seeing a rapid shift from global to regional facilities. This makes it easier to produce and deliver products quickly.
Marcin Fic, our Vice President of Supply Chain Solutions describes what's really behind slowbalization. Here are some nuggets from his recent article on MH&L.
Regional centers resolve pain points you’ve wanted to ease for years. Matching Amazon’s 48-hour delivery has become easier. Using less fuel for deliveries lowers raw material costs. Purchasing parts and supplies locally boosts regional economies. It’s easier to deliver the high-quality service your customers expect with internal obstacles removed.
Supply chain management gets a technology makeover
Data analytics, IoT advancements and 3-D printing drive industry 4.0. Including this new technology in your daily operations creates transparency and lowers risk. Data analytics detect issues and abnormalities before it’s too late. IoT devices simplify tasks and create efficiency. 3-D printing allows for rapid prototyping. According to a study by Gartner, 47% of supply chain managers expect to implement 3-D printing within two years. Are you one of them?
Learn more about how slowbalization is changing supply chain management.