The global sourcing landscape has been tumultuous in recent years, marked by conflicts in key trade regions and shifting policies. Nearshoring emerges as a strategic response, offering procurement managers a chance to diversify risks and mitigate transport issues associated with distant sourcing. This episode of the In Transit podcast features an insightful conversation with Kerim Kfuri, founder and president of The Atlas Network, who joins host Vishnu Rajamanickam to shed light on the complexities and emerging trends in nearshoring and reshoring within procurement operations.
Kfuri dives into the nuances of executing nearshoring effectively, exploring the challenges of decoupling from established vendors and regions, and the steps vital for maintaining resilience during this critical transition. Kfuri calls for companies to have a deeply rooted product-to-product approach, emphasizing the importance of a thorough cost-benefit analysis for procurement teams.
The discussion also touches upon the challenges SMEs face in navigating local regulations and compliance requirements, underscoring the significance of thorough research and third-party expertise. Kfuri’s insights extend to the impact of positive and negative trade policies on supply chain decisions, highlighting that disruptions often serve as the primary catalyst for change.
The conversation concludes with a deep dive into quality control measures and strategies for navigating unpredictable events like the current credit challenge, emphasizing the importance of being prepared yet adaptable. Tune in to the episode to gain a deeper understanding of the strategic considerations and challenges in this industry-wide shift towards nearshoring and reshoring.
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Building a Successful Nearshoring Strategy to Run Resilient Sourcing Operations