Why more businesses are nearshoring their supply chains

The share of companies making moves to nearshore their production nearly tripled this year, according to McKinsey’s annual survey of supply chain leaders, Axios reports.

“Supply chain resiliency” is still a buzzword in many boardrooms—it didn’t fall away as COVID-related snarls dissipated.

Nearshoring, or moving production closer to the end consumer, is now a bigger priority as many executives try to be more prepared for the unexpected and as geopolitical tensions rise, Enno de Boer, senior partner at McKinsey, tells Axios. 

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