As the government admitted last week that there are ‘significant challenges’ to UK stock levels because of Brexit and Covid, is reshoring then perhaps the answer?
Last week’s government report, from the Office for National
Statistics (ONS), revealed the full extent of tumbling stock levels and
broken global supply chains in the wake of Brexit and the Covid
pandemic.
‘Stock and Supply Chain issues in the UK’ looks at the impact of
Brexit, Covid, the blockage of the Suez Canal and other problems.
The report states that that “over recent years, the EU exit, coronavirus
(COVID-19) pandemic, higher energy and commodity prices, and events
such as the blockage of the Suez Canal have presented businesses with
significant challenges when acquiring and maintaining their stock.”
The ONS said that: “As a result of these challenges, the UK has
experienced increased business uncertainty, supply chain issues across a
variety of materials and products arising from worldwide shortages, and
rising inflation.”
Reshoring
Following
these findings, some industry leaders say ‘reshoring’ – bringing
manufacturing back to the UK – will help avoid the impact of stretched
global supply chains finally snapping.
The report reveals the full extent of manufacturing and retail
problems, argued David Jinks, head of consumer research at international
delivery firm ParcelHero.
Jinks told City A.M. that manufacturers, retailers and their
delivery and logistics partners will need to plan for a growth in
reshoring (returning manufacturing back to the UK) as global supply
chains break apart....
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