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Published on Aug 12, 2011
Mike Boehler interviews Harry Moser of National Reshoring Initiative. Harry is a A 40-year manufacturing industry veteran and retired President of GF AgieCharmilles. He founded the Reshoring Initiative to move lost jobs back to the U.S. For his efforts with the Reshoring Initiative, he was named to Industry Week magazine's Manufacturing Hall of Fame in 2010.
The Reshoring Initiative provides the information and analytical tools to accelerate the manufacturing renaissance by helping companies recognize and calculate their full cost of offshoring and thus decide what products to reshore now.
Even before the current trends in Chinese wages and currency, many companies had offshored more than was in their own self-interest. In fact, Archstone Consulting's 2009 survey showed that 60 percent of manufacturers ignore 20 percent or more of the cost of offshoring.
To help companies make better sourcing decisions the non-profit Reshoring Initiative provides free Total Cost of Ownership (TCO) Estimator software that companies can use to compare the cost of offshoring and domestic sourcing. Suppliers can use the software to sell the advantages of local sourcing to their customers.
The Reshoring Initiative has made great progress this year: - Seventy-five presentations already schedules for 2011, including live, webinars, TV and radio. Increasingly, major national trade associations are requesting to hear about reshoring. - Release of Version 5 of the TCO Estimator, covering 17 countries and two product categories: parts and molds/dies. - Completion of the first 2 steps of the 6-step Illinois Reshoring Initiative, supported by 40 trade associations, economic development agencies and companies.
With clear evidence of the fragility of global supply chains, Chinese and other low labor cost country wages rising rapidly, the U.S. $ declining and oil soaring, this is the perfect time for U.S. companies to reevaluate their offshoring strategies and bring some of the sourcing home.