Bringing manufacturing back home. That’s the primary focus of the Reshoring Initiative founded by Harry Moser, a veteran manufacturing business leader and engineer.
Moser’s latest effort to spread the word about reshoring is a podcast series called Moser on Manufacturing produced by Manufacturing Talk Radio and hosted by Lew Weiss. The podcast delivers practical, actionable information about reshoring to help consumers, OEMs, contract manufacturers, and state and federal leaders better understand how to rebuild the U.S. manufacturing industry.
“The Reshoring Initiative is delighted with the growth of 25-times the annual rate of reshoring manufacturing jobs announced from 2010 to 2020,” said Moser. “But we have much more to do to onshore more jobs, create new domestic jobs, increase the skilled workforce, and start reducing the trade deficit.”
Since 2010, manufacturing employment is up by more than 600,000 jobs, despite the 2020 recession. However, offshoring has continued, and the trade deficit has grown. If all companies included total cost of ownership and manufacturing critical-path time in their sourcing and plant-siting decisions, U.S. manufacturing would increase by about 20 percent, or more than 2 million jobs.
The Moser on Manufacturing series provides insights that can help manufacturers better understand and address key economic variables involved in reshoring decisions – from logistical and inventory costs to the risk of geo-political disruptions. These costs plus the purchase price equals total cost of ownership.
“Currently, at least half of what we consume in the United States is imported, with major supply chain gaps such as PPE, chips, and rare earth minerals,” explained Weiss, who in addition to hosting Manufacturing Talk Radio is the president of All Metals & Forge Group and has more than 60 years of manufacturing experience. “We are severely dependent on other countries, including potential adversaries.”
The Moser on Manufacturing podcast will help companies in two ways. First, it will guide businesses toward smarter buying decisions by quantifying all of the costs and risks. Second, companies can learn to sell smarter by helping customers appreciate the benefits of local sourcing. By enacting these takeaways, listeners can be a part of bringing manufacturing – and all its economic and security benefits – back for the future!