Reshoring vs. Offshoring: The Great Debate
September 24th, 2019, NG Manufacturing Summit
A live debate, Reshoring vs. Offshoring, was held at the NG Manufacturing Summit in Sarasota, Florida on September 24th, 2019. The Offshoring position was presented first and focused on two key elements: 1) supply chain gaps missing in America; and 2) opportunities to create global leverage and win business in other regions of the world by producing within the respective countries/markets. The Reshoring position, supported by Jeremy R. Nelson, Director of Manufacturing Engineering at Exactech, Inc., was presented second and focused on the Total Cost of Ownership (TCO), Speed to Market, National Security and Corporate Social Responsibility. Emphasis was drawn around those products that are a 15-25% price savings quoted by Offshoring. These products should be evaluated through the lens of Total Cost of Ownership utilizing the Total Cost of Ownership Estimator tool created by the Reshoring Initiative. The debate consisted of seven minutes to support the positions followed by question and answers from the audience and two minutes to present the closing arguments for both sides. At the end of the debate, a live poll was taken asking if companies should reshore more of their products back to America. The results were as follows: 64% supported the Reshoring position, 16% supported Offshoring and 20% were undecided. The audience truly enjoyed the debate and there was a lot of follow-up conversations surrounding the topic.