Thomas’ groundbreaking report leverages the platform’s unique qualitative and quantitative intelligence on production and sourcing trends through its Industrial Survey Panel and anonymized and aggregated data from Thomasnet.com®’s 1.6 million monthly industrial buyers.
While the report reveals numerous shifts in domestic sourcing trends and supply chain demands, the key takeaway is the industry’s growing prioritization of reshoring in the aftermath of the COVID-19 pandemic.
Potential Economic Impacts of Rising Reshoring Interests in the U.S.
What happens when four in five manufacturers add North American suppliers to their supply chain in the next 12 months?
From Thomas’ research, manufacturers add an average of 11 suppliers (n=538) to their supply chains on a yearly basis. If 83% of the 579,811 manufacturers in the USA bring on one new supplier (single contract) at an average of $921,247 per contract (n=288), it amounts to a potential $443 billion injection into the U.S. economy.
Source: 83% of North American Manufacturers Are Likely to Reshore Their Supply Chains in 2021 [Report]