Localize your supply chains

One of the biggest challenges facing entrepreneurs over the past year has been the disruption of supply chains and the challenge of getting raw materials into businesses and finished goods out and delivered to customers. Such disruption has posed not only a serious challenge but also a threat to many business operations. So what are the mainstream management consultancies recommending as a way out of this dilemma? Localizing local supply chains is being seen as the solution. By sourcing raw materials, products, services and expertise locally, everyone wins. Neighbourhood business eco-systems are strengthened; local businesses can keep their production going and get their goods to market; and local consumers have the opportunity to buy and support local business that in turn creates local jobs. This shift from global to local, and a rethink of business models that focus less on mass efficiency and more on local resilience, provides benefits for everyone along the supply chain.