The high turnout of 114,000 attendees and strong ordering were consistent with the continuous growth of the U.S. manufacturing sector – due, in part, to reshoring. See data about how U.S. manufacturing output is up by 30% since the recession and generating a greater rate of innovation, as well as read about trends from the White House, Bank of America and other sources here. Also, we appreciated the opportunity to speak in the Festo, Gardner Business Publications, GF Machining Solutions and Parlec booths.
Walmart Manufacturing Summit Jumpstarts Further Large Scale Reshoring
The Reshoring Initiative was present to help companies that are reshoring and selling to Walmart. We met over a hundred companies and economic development organizations (EDOs). We help the companies with TCO and motivate the EDOs to implement our Reshoring Economic Development plan. See highlights, full Summit presentation and reshored companies with current job count on our Walmart Reshoring Update blog. We project Walmart’s $50 billion/year increase in U.S. product purchases by 2022 will add 300,000 U.S. manufacturing jobs.
Glenn Marshall (left) of AME and Harry Moser (right) presenting an AME award to Mark Espinoza (center) of Walmart Corporate Affairs for holding the Walmart 2014 Manufacturing Summit.
At the Walmart Summit, IDEAL Fastener Corporation came on board as our newest sponsor. IDEAL is the second largest zipper manufacturer in the world. Originally formed in New York, New York, this global company has reshored one factory to North Carolina to serve the US market. Thanks IDEAL!
In the last two months, four large national companies have approached the Reshoring Initiative for advice on whether and how to reshore. Walmart's search for U.S. manufactured products drove most of these. Other companies are encouraged to call for help as well!
Other Reshoring Initiative Activities
- Documentaries will feature the Reshoring Initiative and air in October on the French Public Television network and January on BBC World.
Interviews with French Public TV: visit to Industrial Mold Group, a leading injection mold maker in Rockford, IL (left); visit to Norton's, a Barrington, IL store selling only made in U.S. products (right)
- Other interviews included Bank of America; Plante & Moran (the auditing and consulting firm); The Wall Street Journal, L'Usine Novelle (French equivalent of Business Week); NASA; and WATR1320 radio in CT.
- ACE (Access Costs Everywhere) Tool at the Department of Commerce now includes the Cost Differential Frontier (CDF), a new tool from Prof. de Treville of the University of Lausanne. CDF provides a simple means for estimating the impact of offshoring on excess inventory, unmet demand and obsolescence costs. For some products these costs, alone, can amount to 20% of the ex-works price for a product. The Reshoring Initiative is cooperating on the launch of CDF and will incorporate the output of the tool into the Total Cost of Ownership Estimator™.
A special thanks to the Reshoring Initiative Sponsors
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.