At the heart of The Prophets’ vision are “The 24 Essential Supply Chain Processes.” What are they? Find out, and see the future yourself. Click here Reshoring doesn’t mean what some companies think it means. Bringing manufacturing back to the U.S. is all the rage. According to The Reshoring Institute Executive Director Rosemary Coates, there’s more to it than what meets the eye. “A mistake companies make is thinking about reshoring [as] bringing all your production back to the U.S. — that's not really the way global companies think these days. Instead, they're looking at the global manufacturing landscape, and determining if they should keep some of their production in Asia — specifically, because it's a huge growth market, especially for automotive.”Organizations also mistakenly view “supply chain” as generic and singular, instead of a complex orchestration of multiple supply chains.Themes discussed in this episode:The supply chain isn’t just purchasing — it’s an umbrella term for multiple operational functions.Post-pandemic, risk is a fundamental component of supply chain strategy.Local for local means manufacturing close to market, with the local economy and the environment in mind.Boards are increasingly demanding that companies embrace environmental, social and governance (ESG).Enterprise resource planning (ERP) needs to integrate data understandable by all users and systems in a supply chain.The most cutting-edge supply chains will drive decision-making with data.Featured on this Episode  Name: Rosemary CoatesTitle: Executive director and founder of The Reshoring InstituteAbout: As a supply chain professional with many talents, Rosemary provides insight and expertise into automotive supply chain management and the growing trend of reshoring. Connect: LinkedIn | Twitter Episode HighlightsTimestamped inflection points from the show[1:50] The supply chain umbrella: Supply chain isn’t just purchasing — it encompasses  front-end forecasting and planning, procurement, manufacturing, logistics and import and export as well.[2:52] Trending reshorewards: The first step toward reshoring is talking about methodologies based on total cost of ownership. But the pandemic sent the conversation into overdrive — now we’re talking risk and strategy.[4:06] EV wins: There are already electric stirrings in the U.S. in places like Nevada and South Carolina. But infrastructure in the form of charging stations remains a top priority for moving EV ahead.[5:14] Bet spreading: It’s a mistake to see reshoring as bringing all production back to the U.S.. The concept of local for local means manufacturing close to market for both economic and environmental reasons.[7:16] Embracing ESG: What was once a nice-to-have is now a requirement, as boards decide ESG is a top priority for sustainability. [8:31] Top tier strategizing: The pandemic showed supply chain to be essential. It really did become the “value chain” people had been talking about...