Three years ago, the way supply chains operated around the globe changed dramatically as the Covid-19 pandemic shut down factories, halted production and created shipping and logistical logjams that would persist for nearly two years.
In the time since, many of those pandemic-related issues have resolved, but geopolitical events such as the Russian invasion of Ukraine and the growing tensions between China and Taiwan have created new problems for those sourcing abroad.
These events, coupled with other factors, have led many companies to explore reshoring their production to the United States or nearshoring to neighboring areas such as Mexico and Latin America. Deloitte estimated in November that American companies were expected to reshore 350,000 jobs in 2022. And for the apparel industry in particular, some experts believe the benefits of making such a move could far outweigh the costs of relocating production from Asia.
