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Source: NYRA GE is bringing manufacturing close to its research headquarters.
It made Elkhart the headquarters of its US operation, employing 3,000 people and manufacturing close to $1bn of medicines and vitamins annually.
Manufacturing close to customers 4.
"The huge advantage in having manufacturing close to engineering resources is that whenever something happens, we have engineers right here," says manufacturing director Major.
The 2008 Nobel Prize winner, Krugman [41] addresses that in a world characterized by both increasing returns and transportation costs there will be an obvious incentive to centralize manufacturing close to the largest market.
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In our experience some larger retailers are beginning to see the benefits of manufacturing closer to home.
"We are taking the lead in moving flu cell-culture vaccine manufacturing closer to a commercial reality now that the site for a U.S. manufacturing plant has been chosen and the first E.U. submission for a flu cell-culture vaccine have been completed," Dr. Daniel Vasella, above, chief executive of Novartis, said in a statement.
We are raising prices, we're shifting some of our manufacturing closer to the customer in developing and emerging markets, and we're really pushing innovation.
And there does seem to be a potential silver lining in the form of nearshoring — bringing manufacturing closer to the userbase of its output.
Having manufacturing closer to home also shortens new-product lead times and increases cooperation between R&D and production teams, leading to a crucial edge in staying ahead of nimble competitors.
Having manufacturing closer to home also shortens new product lead times and increases cooperation between R&D and production teams leading to a crucial edge in staying ahead of its nimble competitors.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com