For North American businesses of all types, especially those in the manufacturing sector, 2022 was anything but typical. Or boring. Or easy. “Labor shortages” and “supply chain issues” became go-to phrases that encapsulated the most significant challenges for industry, continuing well into 2023.

The good news? Supply chain issues are improving monthly, and inflation has dropped by more than 50% from its peak. Additionally, reshoring initiatives are gaining ground around North America as businesses and policy makers at the state and federal levels recognize the importance of having a strong domestic manufacturing sector.

In fact, 62% of manufacturers surveyed in a Deloitte poll in November 2022 had already started reshoring or nearshoring their production capacities.  Read more