Made in USA Resource Program Could Help Retailers Save up to $1.1 Trillion

Website offers resources to manufacture and source products in the U.S.A., bring jobs home

CHICAGO, IL, USA, February 2, 2016 /EINPresswire.com/ -- The Reshoring Initiative is calling all retailers to help their suppliers manufacture more consumer products in the USA. The Reshoring Initiative recently launched Resources for Retail Suppliers, linked from Walmart’s JUMP site, to help companies of all sizes succeed in profitably increasing manufacturing or sourcing of products in the USA.

Retailers are Losing $1.1 Trillion over Out-of-Stocks and Overstocks

The Global Out-of-Stock Crisis reports:

  • 75% of all U.S. adults have suffered from an unavailable product in-store in the last 12 months (63% online).
  • 33% of disappointed in-store shoppers blamed the retailer when a product was unavailable.
  • 58% of disappointed in-store shoppers became lost sales. Shoppers either bought from another retailer or did not buy at all.
  • The easiest solution to improving product availability is shorter lead times via shorter supply chains. Retailers can use Resources for Retail Suppliers to see how much more they can afford to pay for local, fast delivery products based on savings from lost orders and fewer write-downs.

    The time is right to offer to consumers more Made in USA products. Bringing production from another country, especially a low-labor-cost country, is increasingly feasible due to the rapid closing of the offshore vs. U.S. wage gap. Based on available data, about $250 billion per year (approximately 25% of offshored products) could be profitably reshored. The mission of this web-based resource is to help retailers and suppliers determine which products to reevaluate and to provide the tools required for a smooth transition.

    Resources to facilitate and accelerate supplier efforts

    The new program provides direct, personal access to 35 manufacturing trade associations, companies, banks, U.S. Commerce Department offices and other groups. Each group has assigned dedicated resources to help companies develop and implement plans to produce or source more domestically produced goods. These resources can help with issues such as product selection, cost reduction and identifying interested retailers. Information regarding management of the transition to reshoring and financing are included for large, small, foreign and domestic companies.

    We call on more retailers to get on board

    The Reshoring Initiative seeks to expand the scope and impact of Resources for Retail Suppliers. Most retailers could benefit from offering more Made in USA products. We call on:

  • All retailers to volunteer to list their contact point for submitting Made in USA products
  • Suppliers to use Resources for Retail Suppliers
  • Other groups to contact the Reshoring Initiative to volunteer as resources
  • Harry Moser, founder and president of the Reshoring Initiative noted, “Based on published articles accessible in our Library, the Reshoring Initiative concludes that Walmart has already supported at least 46 suppliers to add 5,000 or more U.S. manufacturing jobs. The Reshoring Initiative is delighted to provide these resources to accelerate this effort. We call on other retailers to get on board.”

    Tools for better decisions

    The Reshoring Initiative offers many tools and resources to help companies make supply chain sourcing decisions. The Reshoring Initiative’s free online Total Cost of Ownership Estimator® is the best-known tool for this purpose. It uses advanced metrics that allow users to easily determine the total cost of offshoring by accounting for and understanding the relevant offshoring costs, which include inventory carrying costs, losses from stock-outs and overstocking, shipping expenses, intellectual property risks and more.

    About the Reshoring Initiative

    A 50-year manufacturing industry veteran and retired President of GF AgieCharmilles, Harry Moser 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. Additional information on the Reshoring Initiative is available at www.reshorenow.org. The Initiative’s many sponsoring associations and companies are also acknowledged on the site.

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    Sandy Montalbano D'Amico

    Reshoring Initiative

    847 726 2975

    email us here