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Reshoring 'more meaningful for small companies'
The reshoring trend that has occurred in the US is unlikely to have the same impact in the UK, according to a supply chain think-tank.
A recent study by SCM World claimed the phenomenon is "real but minimal in impact" and more meaningful for small businesses, the Financial Times reports.
The think-tank said that bringing production back to the UK is more of an option for firms who cannot afford the risk of offshoring to China or for bigger organisations diversifying their supply chains.
Furthermore, for many of those businesses that do reshore, the majority of the work will be completed by robotics and automation technology, meaning there will only be a limited number of new employment opportunities.
Finbarr Livesey, a lecturer in public policy at the University of Cambridge, stated: "Automation ... is lowering labour intensity and allowing you to be cost competitive across geographic locations."
He claimed this means the UK could see manufacturing growth in terms of gross domestic product share, but "we won’t get as strong a kick in employment growth".
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