Starting first with the supply chain and production disruptions of the pandemic, and now being reinforced by the unrest in the Middle East, the idea that outsourcing manufacturing is always a cost savings move has been shown to be wrong.
Harry Moser, founder and president of the Reshoring Initiative, has been saying that for years. In fact, he came up with a calculation tool, the Total Cost of Ownership (TCO) Estimator, to show businesses that in many cases manufacturing right here in the USA makes the most economic sense. (See the links at the bottom of this page.)
Harry joined us for Episode 91 to dive into all the details. Here are a few of the highlights of our chat:
12:11 - reshoring job figures
22:11 - how reshoring can cut emissions
24:30 - the effect of reshoring on worker education and workforce development
30:18 - the relationship between reshoring and sound Lean principles
Harry rightly points out that for us to convince our younger generations that manufacturing is a good career choice, there have to be manufacturing jobs available. That's why the increasing head of steam reshoring is seeing is so important.
Tune in and check out the whole discussion!
The Reshoring Initiative's home page: https://www.reshorenow.org/
TCO Estimator tool: https://www.reshorenow.org/tco-estimator/