Coronavirus Impact on Supply Chain Highlights Need for Quick Location Analysis
Supply chain disruption attributable to COVID-19 has shined a spotlight on how vulnerable businesses are and how challenging recovery can be.
Before the economic slowdown, manufacturing location decisions seemed to be driven more by the availability of industrial buildings than labor market analysis, operating costs, or other considerations, even though real estate accounts for only 5% of the annual cost of operations.
However, the global pandemic is changing the reshoring location strategy of many companies, with major emphasis on managing supply chain disruptions and minimizing operational risk.
But how do you balance the need for supply chain stability with the requirement to move quickly in implementing change?
Both real estate needs and supply chain management risks and challenges can be assessed with a new tool built on Colliers powerful Indsite® model. Colliers Rapid Response® is a Big Data tool which synthesizes thousands of factors that drive manufacturing location decisions and elevates the best locations for new investment
Colliers Rapid Response® Real Estate Data Analytics
To address some of the biggest supply chain challenges driven by speed-to-market, Colliers developed Rapid Response, which marries powerful operating cost and risk analytics with a database of over 9,000 large industrial properties. It’s a new real estate site selection software tool that enables robust location analysis of operational risk, operating costs, labor availability and quality, labor union risk, and access to infrastructure for every industrial property in the United States 100,000 square feet or larger.
Rapid Response is the ideal solution to solidify your location strategy and make defensible data-driven decisions.
With Rapid Response, we can identify every available industrial property that meets your needs, then stratify these real estate options through a side-by-side comparison of operational metrics, including:
- Labor market analysis – measuring and comparing 14 different variables to assess availability and quality
- Labor union risk – unionized employers, union elections, and win rates by industry
- Wage costs – manufacturing and distribution jobs
- Property taxes – real and personal property
- Utility costs – electricity rates
- Proximity to transportation – intermodal facilities, interstate highways, commercial airports, container ports, bulk seaports, and river ports
By condensing the steps in location selection to a few clicks, Colliers Rapid Response models and compares operating costs and the operating environment for all buildings that meet the company’s profile, giving you confidence the final building selected will be the best location for your business and meet the needs of your operation both short-term and long-term.
Location Analysis in Hours, Not Months
Marrying Big Data and real estate is a gamechanger for industrial users looking to employ hundreds of workers, deploy millions in equipment, and needing hundreds of thousands of square feet. Companies want to unwind the coronavirus impact on supply chain.
With Colliers Rapid Response’s advanced real estate data analytics and location analysis, there is no need to sacrifice a robust assessment of operating costs and risks to expedite a real estate search. We have leveraged the power of Indsite to identify properties and elevate the best locations to meet your operating profile and building needs in a few keystrokes.