Transforming Business Strategies of Manufacturing Industries Through Reshoring

Document Type

Conference Proceeding

Publication Date

1-1-2014

School

Construction and Design

Abstract

The global market explores the best business strategy which enables them to excel by attaining their goals and objectives. The outsourcing phenomenon was practiced by various manufacturing industries to increase their profit margins. The outsourcing tide seems to be reversing since the past few years. The reason behind this transforming scenario is the recent trend of reshoring. The potential benefits of reshoring were highlighted by the some of the manufacturing industries as they are enjoying the fruitful results of reshoring. The research paper aims to provide an in depth analysis of various outsourcing factors that are enforcing the change in business strategies to reshoring. The reshoring drivers play a crucial role in determining the path for cultivating the best business practices. The outsourcing factors of the major manufacturing industries are individually analyzed and evaluated to determine their impact levels on the performance of the manufacturing industries. The assessment of these factors projects the different trends of the outsourcing factors that have a detrimental effect on the transforming business strategies. The research paper provides a framework for the reshoring strategies that is believed to drive the manufacturing business.

Publication Title

IIE Annual Conference and Expo 2014

First Page

3803

Last Page

3812

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