Multinational companies are relocating manufacturing facilities and adjusting strategies for their supply chains due to the ongoing U.S.-China trade dispute, according to a Bain and Co. survey.
The U.S.-China trade dispute is pushing American multinational companies to relocate their factories and adjust business strategies for their supply chains in the next 12 months, according to a survey by Bain and Company.
But now, 60 percent of the respondents said they are ready to take action, as they see headwinds on their balance sheets, he added."They see customers having to pay part of it, and they are trying to see how to reassess their supply chains." The survey polled more than 200 high-level executives and senior supply chain officers at U.S. multinationals with operations in China, and sought to gauge their perspectives on the ongoing trade dispute.
"What we're seeing now is due to automation, technological improvements. We move away from this consolidated global manufacturing hubs that we used to have into a more fragmented manufacturing footprint," said the consultant. Some companies are now looking for new suppliers, new sources of innovation and new areas of manufacturing, he added.
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