Thank you to our new member, Patrick Day, for sharing this article:
Friendshoring: Irish American Supply Chain Examined as a Case Study
How is your company reacting to threats in its supply chain and transforming risk into opportunity? In a mature application of Quality Risk Management (QRM), companies should lean into the political winds of “onshoring,” “nearshoring,” and “friendshoring” as these concepts have been stood up as well-discussed risk mitigations to the current drug shortage problems. These concepts seem simple enough but how can a company apply them? To explore this topic, this blog post focuses on the concept of nearshoring and friendshoring through an overly simplistic example using existing data and known strategies. Ideally, implementing risk mitigations between two entities is more seamless when both entities have the same risk appetite.
