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.
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Annual Salary Survey
After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.