Everywhere you look, reshoring is in the news. On one hand, it’s unsurprising. Global supply chain disruptions, conflicts and other challenges have led more American businesses to consider the benefits of domestic manufacturing. On the other hand, some business owners have probably debated whether or how to pursue reshoring while keeping costs and logistics in check.
That decision-making process appears to be getting easier, as recent headlines illustrate. For example, consider the International Manufacturing Technology Show, held annually in September. The 2022 edition of this program featured sessions including “Smarter Sourcing Symposium,” “The National Metalworking Reshoring Awards” and much more. These topics indicate that the reshoring conversation is taking center stage. It’s command time, attention and capital investment.
“New machine tool models and new automation features will allow job shops to increase on-time delivery and be more price-competitive than they would have been otherwise,” explained Harry Moser, founder of the Reshoring Initiative, in an interview with Modern Machine Shop. “And that is what will help OEMs justify bringing the work back to the U.S.”
This kind of momentum isn’t just evident on the floor of conferences and trade expos. An analysis by Bloomberg found that U.S. executives’ references to reshoring, onshoring or nearshoring have risen at a fast clip over the past 18 months, as measured on quarterly earnings calls and at conferences. For example, total mentions climbed from 64 in the third quarter of 2021 to 181 in the second quarter of 2022.
These changes are happening across the business landscape. A report at TalkBusiness.net notes business construction is up with investments in U.S. reshoring from chip makers, steel manufacturers and aluminum providers, among others.
Even the beloved brand Lego is bringing manufacturing back to the U.S. after a decade and a half of production out of the country, Forbes reports.
What does all of this mean for the U.S. business community and the greater economy? A few takeaways emerge:
Takeaway No. 1: This is a great time for domestic manufacturing
Whether you are a manufacturer or depend on reliable parts for your business, more organizations than ever are exploring reshoring options. This is great for the manufacturing community and for reliable delivery of the components you depend on.
Takeaway No. 2: We’re just getting started
This trend appears to be here to stay, especially since more executives are talking publicly about the benefits of reshoring. This commitment to investors and the business community suggests we’ll continue to see headlines about new investments in the future of U.S. manufacturing.
Takeaway No. 3: Customized solutions will keep businesses moving forward
At Plastics Manufacturing Resources, we’re always looking for ways to help our customers succeed. Whether the plastic parts you need are large or small, we can discuss your needs and put a plan in place to produce those parts in a way that is cost-effective and avoids delays that might limit your ability to achieve your customers’ needs quickly. This kind of customization keeps our customers happy and moving forward to achieve their business objectives—and it’s the kind of customization made possible by reshoring and a focus on the promise of American manufacturing.
We’ll continue to monitor the great reshoring opportunity and share insights as we see them from our vantage point. If you ever need help, remember we’re just a phone call away at 508-878-8280.
