In the NewsSurveys reveal data on reshoring trend
The Entrada Group conducted a single blind study and found “Re-shoring getting more attention by the day.” Some of the conclusions they found:
- 62% of respondents rank the United States and Mexico ahead of China now as top “low-cost” manufacturing locations
- Offshore cost savings are not always realized — companies that expanded to a “low-cost manufacturing location” achieved their goals to a large extent only half of the time, with half of them realizing just moderate savings or worse.
Manufacturing worker hours reflect a stable economy
Pointing to the higher average work week in manufacturing that hit 42 hours in November and March (a level not seen since July 1945), Nobel laureate and Yale University economist Robert Shiller deduces that the odds of a recession are very low (businessinsider.com), exemplifying yet another correlation of how a healthy economy depends on a robust industrial sector.
National Manufacturing Day, and further characteristics of the trend
The National Institute of Standards and Technology (NIST) reports that manufacturing supports more than 17.4 million U.S. jobs. Thanks in part to reshoring, that number is growing. In acknowledgement of National Manufacturing Day, NIST published a table of informative statistics: What Manufacturing Really Looks Like: Celebrating Manufacturing Day. Check it out and decide how you will participate in the next Manufacturing Day scheduled for October 3, 2014.
Reshoring is included in Industry Week’s report: These 5 Manufacturing Trends Are No Joke:
- Increased reliance on automation and robots
- Rapid prototyping
- Smaller orders
- Leaner factories.
Skilled Workforce UpdateWith manufacturing returning in force and with modernized operations, companies continue to find it challenging to acquire the right workers. The Reshoring Initiative believes the skills gap is the greatest barrier to successful ongoing reshoring. Happily, we are starting to see great efforts being made to improve the situation. Here are just a few informative discussions on the subject:
- Bright Hub: Closing the Skills Gap: Why You Should Work Smart AND Hard
- Boston Consulting Group: Five Trends to Watch in Higher Education
- Reshoring Initiative: Skilled Workforce Program - We encourage companies and regions to adopt our low cost/high impact programs.
On May 8 in Windsor, CT, Harry spoke to high school students about careers.
|MazakCorp Northeast reported a "Great day for the student summit," and Clement Fucci, Manufacturing Technology Instructor for 31 years at Westfield Vo-Tech High School, tweeted: @harrymoser was awesome!!|
Recent Event HighlightsMassachusetts is one of the many states poised to benefit from reshoring. Harry was the keynote speaker at the Massachusetts Advanced Manufacturing Summit, presenting immediately after Governor Deval Patrick.
The 2014 Manufacturing Leadership Award for Industry Advocacy was presented to the Reshoring Initiative on June 5th.
Data UpdateWith the constant outpouring of reporting on reshoring, our database is growing. We continue to manage and analyze it to track the trend. Here are some of our latest numbers.
Have a story to tell? Submit your reshoring success story at reshorenow.org/resources, and we will also highlight it here.
2014 Upcoming Events
- June 17 – Procurecon - Reshoring presentation by Millar Kelley, Milwaukee, WI
- June 18 – IEDC, Webinar on our Reshoring Economic Development Program
- July 22 – Detroit 3 Supplier Matchmaking Summit, Detroit, MI
- August 4 – Utility Economic Development Association, Chicago, IL
- August 19 – Anklesaria, Webinar: Reshoring: Who’s Doing It, How and with What Results?
- September 8-13 – IMTS Chicago, Chicago, IL
- September 8 – Mitsubishi Electric Automation Evening, Navy Pier, Chicago
- September 9 – GF Machining Solutions Booth S8754 IMTS, Chicago, IL 1pm
- September 11 – GF Machining Solutions Booth S8754, Chicago, IL 1pm
- September 24 – MS Reshoring Conference, Miss. State, MS
- October 26-28 – SPI Equipment Makers and Mold Makers, Tucson, AZ
- June 17 – SelectUSA Summer Forum, Congressional Visitors’ Center, Washington, DC (The Initiative will have a display.)
- October 31 & November 1 – SelectUSA Investment Summit
If you have a reshoring event and would like to include the Initiative, or be listed in our Newsletter, send us an email!
- Total Cost of Ownership Estimator™ – Free online tool to help evaluate sourcing alternatives and to make a case when selling against offshore competitors.
- Also see this newly released in-depth webinar Applying Reshoring and Total Cost in PA with Harry Moser, presented by NEPIRC.
- New Reshoring Library -The updated version of the Reshoring Library is complete! The library contains over 1000 linked articles on reshoring. Data from the most recent 450 articles can now be publicly accessed through the Advanced Search function; the remaining data from older articles will become available over the next month.
- Submit your own reshoring case for free publicity and to make reshoring more visible.
- Use our Economic Development Program to strengthen your region by replacing imports with local production.
- See our Blog for recommendations on Skilled Workforce Development.
- Invite the Reshoring Initiative to address your or your customers' industries at a speaking engagement or meeting.
Reshoring Initiative Sponsors:Congratulations to our sponsors, you are doing a great job of bringing manufacturing back to the United States!
The Wessel Group
Milltronics CNC Machines
TCI Precision Metals
Swiss Machine Tool Society
IronCalifornia Metals Coalition
It was refreshing to hear the can do approach to bringing the economic engine of "making things" back to the US.
Thank you again,
Mitch Kennedy, ND, CEM, LEED-AP
Design with Nature, LLC
All reshoring successes depend on actions. Please consider posting a link to the Reshoring Initiative on your website, and/or donating your time, talent or dollars. You can download our logo at the website. Contact us for more information on how you can help or how the Initiative can help you.
As always, thanks for your support.
Harry Moser – Reshoring Initiative (847) 726-2975
Millar Kelley – Newsletter Editor and Research Analyst
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