Supply chain visualization in the absence of crystal balls
Anyone leading a business – big or small – is familiar with watching and managing numerous variables, and likely grateful for some level of predictability and the measurable metrics that go a long way in providing clarity, particularly in supporting supply chain planning during a time of economic uncertainty.
Supply chain woes have been a recurring theme for a while, during the COVID-19 pandemic and now with current market volatility. Given the new normal of unpredictability in this space, I've checked in with colleagues on the fundamentals that can help leaders steering complex organizations as nimbly as possible through related surprises.
Import-Export in Massachusetts
The general public may have eyes on finished consumer goods availability and pricing, but Massachusetts import and export activity is foundational to the local manufacturing sector supply chain for numerous industries. Massachusetts' manufacturing supply chain contributes $61.9 billion to the state economy, employs over 230,000 people across more than 6,000 firms, and is driven by high-tech sectors like medical devices and advanced materials.[1]
Related structural investment is of note. In 2024, the Healey-Driscoll administration and MassTech Collaborative's Center for Advanced Manufacturing worked to strengthen supply chains and encourage sector growth with more than $3.5 million in grants to 23 manufacturing companies through the Massachusetts Manufacturing Accelerate Program (MMAP).[2]
Also in 2024, Massachusetts invested $100 million in upgrading ports and maritime infrastructure to support clean energy development and enhance supply chain logistics, especially for manufacturing sectors reliant on imported components and offshore shipment capacity.[3]
Nearshoring or not: integrated systems can reduce variables
Work is ongoing to optimize import and export success, yet economic forces may drive organizations to create their own supply chain stability by reshoring in the United States. Nearshoring may appear to be a logical reflex response, and there are reasons why it could be strategic for some.
'Economically viable opportunities for reshoring production to the U.S. are likely to be higher-value, complex products with strict quality standards, produced with technologically advanced, higher-capital intensity processes,' noted Kate Hardin, managing director, Deloitte Services LP and executive director at Deloitte's Research Center for Energy & Industrials.
Nearshoring may offer a more nimble approach to production scenario planning, but there are other factors that can offer agility. For example, factories using sensors can enable digital supply chains to benefit from AI algorithms that offer insights and support prediction, reaction and integration. The evolution of this automated process is creating greater resilience overall, as variables can be addressed in the moment – particularly for those that have greater challenges than sourcing alone.
Connecting supply chain aspects
Availability of raw materials or finished goods deserves the spotlight at this time. Risk management has long included diversifying suppliers, increasing inventory buffers and developing contingency plans.
Life sciences companies often need to go beyond this to accommodate a broad scope of related issues such as evolving regulatory standards compliance, including adhering to guidelines for the transportation and storage of pharmaceuticals. Transparency, traceability and efficiency can play a crucial role in the timely delivery of materials; digital transformation including AI, machine learning and blockchain technology may play a role in this process.
An example of this is Deloitte's work with a cell and gene therapy (CGT) company. These therapies often involve living cells, which require precise handling, storage, and transportation conditions to maintain their viability and effectiveness. Any disruption or delay in the supply chain can compromise the quality of the therapy, leading to potential treatment failures and significant financial losses.
Even without the current supply chain volatility, a smooth and uninterrupted flow of product involves rigorous planning and execution. One way that Deloitte moved to support this is through ConvergeHEALTH™ CGT Vantage, a software-as-a-service solution designed to simplify the orchestration of CGTs with clear visibility into chain of identity (COI) and chain of custody (COC) across industry stakeholders. The system offers a single portal point of connection for patient treatments regardless of therapy or manufacturer, and provides CGT innovators with supply chain transparency on product launch and go-to market while safely managing COI and COC.
Navigating a web of production considerations
As the CGT example shows, supply chain management can be an interconnected web of touch points originating with sourcing. In line with that, I'll close with some leading practices to consider:
Apply duty deferral, reduction, and duty recovery strategies
Explore the use of foreign trade zones, bonded warehouses and other bonded regimes, Chapter 98 provisions in the United States, and drawback opportunities
Seek exemptions and exclusions: If available, participate in public comment and hearing processes, and pursue available exemptions and exclusions
Strategically re-evaluate supply networks and structures such that resiliency and agility is embedded in the system vs. managed outside the system
Study methods to reduce customs values, such as working to unbundle fees from product prices to remove non-dutiable elements, assessing/implementing First Sale for Export structures, and joining reconciliation programs for customs value declarations and duty/tariff payment management
Supply chain management is a vast undertaking with numerous variables that stretch from tariff-related planning to larger structural assessments. If you are working through these challenges to visualize and improve your process and want to connect, please reach out to me at officeofrebeccachasen@deloitte.com; Deloitte may have subject matter specialists that can help.
This article contains general information only and Deloitte is not, by means of this article, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This article is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional adviser. Deloitte shall not be responsible for any loss sustained by any person who relies on this article.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ('DTTL'), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as 'Deloitte Global') does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the 'Deloitte' name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
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