With unprecedented supply chain shortages, exorbitant shipping costs, and scrutiny over sustainability, companies are questioning whether importing is best to ensure their company's long-term growth and viability. In today's episode of Accounting for the Future, host Anne-Marie Henson, BDO partner, is joined by BDO Canada's Director of Operational Improvement, Charlie Reid, for a conversation about the risks and benefits of altering a reshoring strategy. Together they discuss the risks and benefits of utilizing various importing strategies when accounting for the optimal impact on a company's future.

What You'll Hear In This Episode:

[1:25] A brief history of international importing.

[3:53] A definition of common reshoring terms.

[5:46] Key considerations in determining whether to continue overseas sourcing.

[9:20] Major risks that can occur during the reshoring process.

[13:56] Advantages of pursuing a reshoring strategy.

[19:45] Maintaining competitive pricing while utilizing locally sourced vendors.

[23:37] Benefits of reshoring when accounting for the company's future.

[26:15] Additional considerations when implementing a reshoring strategy.

Mentioned:

BDO

Charlie Reid

Anne-Marie Henson