Next-shoring is the new buzzword in manufacturing. Have you heard it yet?
It was coined by a group of McKinsey Analysts early in 2014. The basic concept is not the moving of operations in order to better serve customers and obtain materials, it is the use of technology to overcome physical limitations.
In the past, manufacturers have located themselves in areas where they could easily obtain raw materials or where they service key customers, but the new focus according to McKinsey is operational agility. Operational agility not only encompasses the use of new technologies like robotics and 3D printing, it is the ability to use these technologies in a highly flexible environment.
Interestingly, the idea of next-shoring is not . . .Read More