Home-based supply and manufacture has been a hot topic in the fishing industry since the onset of COVID disrupted supply chains, and it could be that the US will be leading the way in bringing business back on shore in 2022.
According to a new report based on 2021, 83% of manufacturers are planning to add North American suppliers to their supply chains within a year – a significant increase on the 54% reported in March 2020.
And although the report covers a wide range of industries, it will resonate with a recreational fishing trade that has been frustrated by supply chain chaos as more people flock to the sport and increase demand for products.
The report uses qualitative and quantitative intelligence on production and sourcing trends through the Thomas Industrial Survey Panel, along with aggregated data from thomas.net’s 1.6 million industrial buyers.
It reveals numerous shifts in domestic sourcing trends and supply chain demands, but the key takeaway is the growing prioritisation of reshoring in the aftermath of the COVID-19 pandemic.
Manufacturers add an average of 11 suppliers to their supply chains each year, says Thomas. If 83% of the 579,811 manufacturers in the US bring on one new supplier (single contract) at an average of $921,247 per contract, it amounts to a potential $443 billion injection into the US economy, a figure that won’t escape the attention of fishing manufacturers and patriotic consumers.