Reshoring Initiative October 2014 Newsletter
Another Great Year at IMTS 2014
The high turnout of 114,000 attendees and strong ordering were consistent with the continuous growth of the U.S. manufacturing sector – due, in part, to reshoring. See data about how U.S. manufacturing output is up by 30% since the recession and generating a greater rate of innovation, as well as read about trends from the White House, Bank of America and other sources here. Also, we appreciated the opportunity to speak in the Festo, Gardner Business Publications, GF Machining Solutions and Parlec booths.
Walmart Manufacturing Summit Jumpstarts Further Large Scale Reshoring
The Reshoring Initiative was present to help companies that are reshoring and selling to Walmart. We met over a hundred companies and economic development organizations (EDOs). We help the companies with TCO and motivate the EDOs to implement our Reshoring Economic Development plan. See highlights, full Summit presentation and reshored companies with current job count on our Walmart Reshoring Update blog. We project Walmart’s $50 billion/year increase in U.S. product purchases by 2022 will add 300,000 U.S. manufacturing jobs.
Harry Glenn Marshall (left) of AME and Harry Moser (right) presenting an AME award to Mark Espinoza (center) of Walmart Corporate Affairs for holding the Walmart 2014 Manufacturing Summit.
At the Walmart Summit, IDEAL Fastener Corporation came on board as our newest sponsor. IDEAL is the second largest zipper manufacturer in the world. Originally formed in New York, New York, this global company has reshored one factory to North Carolina to serve the US market. Thanks IDEAL!
In the last two months, four large national companies have approached the Reshoring Initiative for advice on whether and how to reshore. Walmart's search for U.S. manufactured products drove most of these. Other companies are encouraged to call for help as well!
Other Reshoring Initiative Activities
- Documentaries will feature the Reshoring Initiative and air in October on the French Public Television network and January on BBC World.
Harry Interviews with French Public TV: visit to Industrial Mold Group, a leading injection mold maker in Rockford, IL (left); visit to Norton's, a Barrington, IL store selling only made in U.S. products (right)
- Other interviews included Bank of America; Plante & Moran (the auditing and consulting firm); The Wall Street Journal, L'Usine Novelle (French equivalent of Business Week); NASA; and WATR1320 radio in CT.
- Quoted by Steve Ezell of ITIF at the U.S. Senate Finance Committee hearing on “The Role of Trade and Technology in 21st Century Manufacturing”
- Spoke at a U.S. Senate Democratic Policy and Communications Center press conference on a reshoring bill: Senate 2569
Articles on Reshoring
The Reshoring Initiative published or was quoted in over 20 articles since the last newsletter. See the complete list in News. 212 new articles were added to the Reshoring Library.
Three graduate theses on reshoring were posted on Reshorenow.org:
- The Impact of Government Policies on Reshoring Efforts - Wael Sedky - The Effect of Reshoring on Wage Inequality In the United States: A theoretical assessment - Nikie Knoben - Reshoring - Ferran Cabratosa
Also in the News
- ACE (Access Costs Everywhere) Tool at the Department of Commerce now includes the Cost Differential Frontier (CDF), a new tool from Prof. de Treville of the University of Lausanne. CDF provides a simple means for estimating the impact of offshoring on excess inventory, unmet demand and obsolescence costs. For some products these costs, alone, can amount to 20% of the ex-works price for a product. The Reshoring Initiative is cooperating on the launch of CDF and will incorporate the output of the tool into the Total Cost of Ownership Estimator™.
Recently Reported Case Studies
Have a story to tell? Submit your reshoring success story at reshorenow.org/resources.
Reshoring Resources
Calculate TCO with the Total Cost of Ownership Estimator™ – free online tool to help evaluate sourcing alternatives and to make a case when selling against offshore competitors. In-depth webinar available: Applying Reshoring and Total Cost in PA with Harry Moser, presented by NEPIRC. Reshoring Library - contains 1,600+ linked articles on reshoring. Data from these articles can be accessed and sorted through the Advanced Search function. Submit your own reshoring case for free publicity and to make reshoring more visible. Use our Economic Development Program to strengthen your region by replacing imports with local production. See our recommendations on Skilled Workforce Development in your area. Invite the Reshoring Initiative to address your or your customers' industries at a speaking engagement or meeting. Visit Upcoming Events to see the schedule of where the Reshoring Initiative will be speaking
As always, thanks for your support.
Harry Moser – Reshoring Initiative (847) 726-2975
Millar Kelley – Newsletter Editor and Research Analyst
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A special thanks to the Reshoring Initiative Sponsors
All reshoring successes depend on actions. Please consider posting a link to the Reshoring Initiative on your website, and/or donating your time, talent or dollars. You can download our logo at the website. Contact us for more information on how you can help or how the Initiative can help you.
