For years, manufacturing left the U.S. Now, it’s begun to come home. Here are 5 things to know. | Milwaukee Journal Sentinel

For years, manufacturing left the U.S. Now, it’s begun to come home. Here are 5 things to know. | Milwaukee Journal Sentinel

For years, manufacturing left the U.S. Now, it’s begun to come home. Here are 5 things to know. | Milwaukee Journal Sentinel

As the dust settles from the disruptions caused by the COVID-19 pandemic, U.S. companies find themselves at a critical juncture, reevaluating their global supply chains with a keen eye on resilience and reliability. Industries like electronics and pharmaceuticals, vital for national security, face the brunt of supply chain vulnerabilities, prompting a closer look at reshoring or bringing manufacturing back home.

Contrary to popular belief, China isn’t always the cheaper option. While manufacturing in the U.S. averages a 30% higher cost, comparing expenses like shipping, tariffs, and currency rates can make domestic production competitive. The Reshoring Initiative emphasizes the importance of considering the “total cost” through tools like its Total Cost of Ownership calculator, which is recognized by the U.S. Department of Commerce.

Consumer preferences play a significant role, with around 65% of global customers expressing a preference for locally-made products. This preference underscores the potential for companies to leverage brand perception by localizing manufacturing. Requiring country-of-origin labeling could further empower consumers to support domestic production.

However, challenges loom on the horizon, particularly regarding workforce shortages. Without addressing the deficit in skilled labor, the U.S. risks a shortage of 2 million workers in manufacturing by 2030, according to the U.S. Census Bureau. Initiatives like apprenticeship programs and immigration reforms, such as increasing H-1B visas for skilled workers, are crucial to bridge this gap.

While subsidies offer short-term relief, a sustainable solution is a well-designed national industrial policy. This policy could level the playing field, encouraging reshoring based on companies’ self-interest rather than temporary incentives. Additionally, foreign investments play a pivotal role in bridging supply-chain gaps and fostering self-sufficiency in manufacturing………..full-loaf-600x400-1-e1700879832480 For years, manufacturing left the U.S. Now, it's begun to come home. Here are 5 things to know. | Milwaukee Journal Sentinel[read more]

Rising Dough

Rising-Dough-e1700879911412 For years, manufacturing left the U.S. Now, it's begun to come home. Here are 5 things to know. | Milwaukee Journal SentinelHow might a well-implemented national industrial policy foster reshoring and self-sufficiency in U.S. manufacturing, balancing short-term subsidies with long-term sustainability?

*Click on the “Full Loaf” icon to read the full article! After you read the full article, let us know your thoughts.

0 0 votes
Article Rating
stone-street-coffee-logo For years, manufacturing left the U.S. Now, it's begun to come home. Here are 5 things to know. | Milwaukee Journal Sentinel ☕️ **Discover Stone Street Coffee Company – Your Coffee Haven!** Today’s Dough readers, if you’re on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today’s Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street’s commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

Subscribe
Notify of
4911916e02f640c314705c9ffb920bb0?s=56&d=mm&r=g For years, manufacturing left the U.S. Now, it's begun to come home. Here are 5 things to know. | Milwaukee Journal Sentinel

1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
0cbdf9cd63c7c9834faf1db71bc34aa8?s=64&d=mm&r=g For years, manufacturing left the U.S. Now, it's begun to come home. Here are 5 things to know. | Milwaukee Journal Sentinel
Guest
Amando Gonzalez
23 days ago

A well-implemented national industrial policy can encourage reshoring and self-sufficiency in U.S. manufacturing by providing incentives for companies to bring their operations back to the country. This can be done through a combination of short-term subsidies and long-term sustainability measures.

Share this content:

0 0 votes
Article Rating
stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

Subscribe
Notify of
guest

1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Amando Gonzalez
Guest
Amando Gonzalez
23 days ago

A well-implemented national industrial policy can encourage reshoring and self-sufficiency in U.S. manufacturing by providing incentives for companies to bring their operations back to the country. This can be done through a combination of short-term subsidies and long-term sustainability measures.

1
0
Would love your thoughts, please comment.x
()
x
×