In 2024 Companies Will Overhaul Global Supply Chains

Feb. 16, 2024
New study shows 63% are either expanding production to multiple locations or moving production home.

A recent survey from Agility, Emerging Market Logistics, examined a number of global logistics and supply chain issues.  

One of the more striking findings was that 63% of survey respondents say their companies will  continue overhauling supply chains by spreading production to multiple locations or relocating it to home markets and nearby countries.

Here are some higlights from the survey:

  • China – 40% expect their businesses to be less reliant on China in five years. Leading factors in decisions to de-risk in China: difficulty of doing business; U.S.-China trade friction; a slowing economy; the harshness of China’s COVID restrictions.
  • Supply chain restructuring – India, Europe and North America rank ahead of China as destinations executives expect to move production to in 2024 and onwards.
  • Emerging markets – the largest percentage sees increased risk/decreased rewards in emerging markets.

The following slideshow offers some snapshots from the survey.