Five key factors driving reshoring
At the annual MFG Meeting in Phoenix, John Walker, chairman of Oxford Economics, cited the five reasons reshoring is taking hold in the U.S.
The issue of reshoring manufacturing, and by extension, manufacturing jobs, was seen at one time as a matter of patriotism. The economic and logistical issues have easily overtaken any other factor as the reason manufacturing jobs are migrating back to the U.S.
Here are five key factors driving reshoring according to Walker:
- It reduces the time to market.
- It reduces costs.
- There is better product quality.
- There is more managerial control.
- There is easier supply-chain management.