A reliable, secure supply chain for minerals and metals is vital to keeping US manufacturing competitive and sustainable, write the National Mining Association’s Hal Quinn and the Reshoring Initiative’s Harry Moser in an article on Material Handling & Logistics.
Manufacturers use minerals and metals in a variety of everyday items — including cell phones, laptops and cars, buildings, infrastructure, medical devices and body armor — across several industries from healthcare and transportation to electronics and defense.
Most survey respondents believe minerals and metals demand will increase in the next 10 years.
Additionally, 91 percent of executives said they are concerned about supply disruptions outside of their control, such as geopolitics and increasing global demand.
An analysis by the Reshoring Initiative is consistent with the survey’s findings and shows that the most important reshoring factor is having a short supply chain. The benefits of proximity include lead time, freight cost, excess inventory and supply chain disruption risk.