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ARTICLE · 06 FEBRUARY 2023

Smart Factories: Easy-to-implement Technology Can Have A Rapid Impact On Your P&L

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We agree that technology is critically important for making reshoring and nearshoring cost competitive.

United StatesTechnology
Abhinav Agrawal
Abhinav Agrawal
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As world leaders gather in Davos for the annual meeting of the World Economic Forum to discuss a business environment that is so disrupted it is now being called a "polycrisis," deglobalization is one of the hot topics on the agenda. Following the well-documented supply chain meltdowns we've seen over the last few years, it is only natural that many companies are looking for ways to bring their manufacturing operations closer to home or the regions they serve through nearshoring or reshoring.

In a white paper published by the World Economic Forum in January 2023 entitled A Global Rewiring: Redefining Global Value Chains for the Future, the authors call out the role that technology has to play in making nearshoring cost competitive:

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