The disruptions to global supply chains due to COVID-19 and geo-political events have had a trickledown effect into the Asia Pacific region, impacting sourcing, logistics, production, distribution, and aftermarket services. This has prompted multinational corporations to reassess their approach to global manufacturing and sourcing. Companies are now increasingly motivated to secure lower-cost suppliers and focus their efforts on maintaining their financial health in the short to medium-term, irrespective of where they plan to relocate.
Asia Pacific's supply chains have adjusted, become resilient and continue to thrive. The events of the past couple of years have opened up significant opportunities for emerging economies within the region, attracting foreign investment to develop high-quality infrastructure that supports more effective cross regional supply chain flows. The region's competitiveness in manufacturing capacity, including land, labor and logistics, is playing a key role in helping the region to emerge as a global supply chain hub.
Read our latest report on the potential supply chain realignment opportunities across select economies including India, Hong Kong (SAR), China, Malaysia, Thailand, Singapore, Taiwan, and Vietnam. We look at how companies have been forced to rethink their supply chain strategies, ranging from sourcing of raw materials to relocating their production units, and how they can work towards a more diversified and resilient supply chain.