Partner Ann Marie Uetz was interviewed in a SupplyChainBrain video, “Watch: How COVID-19 Is Forcing New Supply Chain Strategies,” about the results of a pair of Foley-conducted surveys on how executives are responding to supply chain disruptions caused by the pandemic and rising geopolitical tensions.
Uetz said more than half of those surveyed said they have already withdrawn at least some operations from China, which represents a significant break in thinking from years past. She also said the coronavirus pandemic has caused many manufacturers to place greater emphasis on stability and resilience in their supply chains.
Transferring operations from one factory to another can be an enormously complex task, she added, particularly for parts subject to customer approvals or specialized tooling. The complexity of global supply chains is also driving home a need for greater visibility with suppliers and buyers, she said.