The turbulnce of the last few years has farced manybusinesses to address the vunerabdies in theirhighty globalzed supply and production networks.
Companies taking stock of their productionand suppy chain footprints indicated thatthey wll reduce their dependency ansdesourcing strategic commodities in the nextthree years.Taday,orly 42%of respandertsare making use of muli-sourcing strategiescompared to 7Z%whoplen to in the future.
Regionel sourcing is ako bouncing back
Numbers are set to leap from 38%of respondentstoday mostty sourcing regionally to 65%in thenext three years Adopting the best soucingstrategy and identifying new productionfadity locations wil be key to bdlsteringresaency,sustainablity and flexibdity.
Leaders are also priortizing praximity-based hubsthat concentrate production fadtties and sakeswithin the same region to streamline logistics.improve inventory management and accekerateresponse to market demand.We found that themanufactuing of products across multidle plentsis expected to nise fiom 41%today to 78 in threeyears time.This rnise algns with the increasingpreference for producing goods within the sameseling region,whichis anticipated toreach 85%in
three years,up from 43%.Inaddiion to regional sourcing and proximity-
based producion,comparies are actively exploringrelocatian and reshoring to reduce their dependencyan any one spedfic country,region ar suppler.
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