American companies are on a quest to Reshore production.
According to a 2014 study, 54% of US manufacturers over $1billion in revenue
are considering Reshoring some or all of their manufacturing. Site evaluation
and the correct site selection are critical to the success of these projects.
Establishing manufacturing at the right site has an economic multiplier effect
on communities. Manufacturing jobs pay well and workers use their wages to buy
homes, cars and other goods in the local community. Everybody wins. Reshoring
is a very popular idea among businesses, their customers and governments where
jobs growth will have the most impact. But it’s not that simple. Reshoring
requires a carefully crafted journey through innovation, automation,
localization of products and site/community selection. You will learn about the
major components in this decision and what you need to develop a business case to
bring manufacturing back to specific communities. We will also learn about some
reshoring failures, where selecting the wrong site had devastating results.