With unprecedented supply chain shortages, exorbitant shipping costs, and scrutiny over sustainability, companies are questioning whether importing is best to ensure their company's long-term growth and viability. In today's episode of Accounting for the Future, host Anne-Marie Henson, BDO partner, is joined by BDO Canada's Director of Operational Improvement, Charlie Reid, for a conversation about the risks and benefits of altering a reshoring strategy. Together they discuss the risks and benefits of utilizing various importing strategies when accounting for the optimal impact on a company's future.
What You'll Hear In This Episode:
[1:25] A brief history of international importing.
[3:53] A definition of common reshoring terms.
[5:46] Key considerations in determining whether to continue overseas sourcing.
[9:20] Major risks that can occur during the reshoring process.
[13:56] Advantages of pursuing a reshoring strategy.
[19:45] Maintaining competitive pricing while utilizing locally sourced vendors.
[23:37] Benefits of reshoring when accounting for the company's future.
[26:15] Additional considerations when implementing a reshoring strategy.
Mentioned:
Charlie Reid
