Global MFG - Jul 24, 2020
5 Manufacturing Trends the Pandemic Has AcceleratedJosh Chernin | Industrial Equipment News
5 Manufacturing Trends the Pandemic Has Accelerated
A number of trends in manufacturing were apparent prior to the pandemic, but many have been accelerated by the new state of the industry presented by the novel coronavirus.
Higher value-added manufacturers were already beginning to reshore from China. China’s labor cost advantage is decreasing, and many now recognize that long supply chains tie up a lot of inventory (and cash) on boats, which creates a vulnerability to both quality problems and faster product life cycles.