Benefitting from localized supply chains
There are benefits to going local with your supply chain. At least, that’s the argument put forward in a recent article at Entrepreneur, which examines why businesses of all types may find greater supply chain security (and peace of mind) by turning to local sources if they aren’t doing so already.
“Some leaders worry that working with smaller suppliers might cost more due to their lack of scaled buying power; however, any potential price increases can be offset by a variety of benefits,” writes author Antwaun Griffin. “Partnering with small, diverse, and local businesses offers five advantages to leaders looking to build supply chain resiliency.”
In the article, Griffin digs into those five key advantages, which include strengthened relationships, shorter travel distances, less waste, local economy growth, and the knock-on benefits of supporting a more diverse, local market. Moreover, he delves into ways companies can strengthen their local supply chain partners for mutual success.
“Next time you start thinking about ways to build a stronger supply chain, remember that part of the answer might be right down the street,” Griffin adds. “Building relationships with these sellers now can help safeguard against future supply chain disruption while supporting small and diverse businesses within your community.”
Read the full story: 5 Advantages to Localizing Your Supply Chain.
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