“It’s been a wake-up call for pretty much every company,“ Gerry Mattios, expert vice president at Bain & Company, said in a phone interview last week. “The number one item on the agenda is, ‘how do I build resilience in my supply chain?’”
A key component of that strategy is building flexibility — the ability to switch quickly from different production sources in response to future challenges, Mattios said.
“We’re not going to see China drying up on manufacturing all of a sudden,“ he said. “A big (portion) of the exporting manufacturing capacity that China had could potentially be shifting out of China, but a lot of the capacity for internal consumption in China will stay in China.”