Benefits from Supporting the Reshoring Initiative: EDOs
- Identify and promote cases of reshoring and FDI by regional companies. Thereby document that the region’s companies are competitive with offshore sources.
- Presentations at meetings and shows.
- Joint articles and webinars. Have done op-eds with or for sponsors, tying their objectives to the reshoring and FDI trends. Easier to place with the Initiative’s credibility.
- Train EDO teams to help companies compare domestic to offshore Total Cost, resulting in reshoring. We helped a Chicago area contract manufacturer save a $2 million order vs. imports by using our TCO (Total Cost of Ownership) software to make a more accurate comparison.
- Identify companies that have heavily offshored. Work with EDO team to educate the companies on the benefits of sourcing locally.
- Cooperate on skilled workforce recruitment. We have excellent presentations on the subject. Also, by documenting and promoting cases of reshoring and FDI we will help recruits see that manufacturing is, again, a stable career choice.
“Harry, You did an excellent job in helping my members understand all the factors involved in the costs of doing business offshore and how to encourage OEMs to return their business to US manufacturers. I encourage everyone to review your TCO calculator. It is a great sales tool.”
– Daniel Twarog, President, NADCA
Note: Actual benefits depend upon sponsorship level.