Are You Considering Reshoring?
There are early signs of a growing trend of manufacturing businesses taking a critical look at their production processes. Parts of their production that had previously been outsourced abroad, particularly to perceived low cost suppliers in the east, are now being brought back to the UK. This is being labelled as “”reshoring”.
With the UK economy showing signs of real recovery, businesses are finding that supply line logistics and quality issues are more controllable with UK based manufacturing businesses. Costs are also more predictable.
The Manufacturing Advisory Service (funded by the Department for Business, Innovation and Skills) has launched a new initiative, ReshoreUK, to help and advise businesses wishing to take advantage of the business opportunities created by reshoring.
Whiting & Partners are here to assist businesses in identifying the financial implications of reshoring strategies.