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More and more American manufacturers with supply chains based in Asian economies are bringing their production back to the North America. The benefits they had found in low-cost labour in overseas economies have been steadily eroded in recent years, as offshore labour rates have risen by as much as 15% per year in some places. […] When manufacturers reshore operations from overseas to the home base, they frequently have a hard time filling skilled positions. Innovative solutions are needed to overcome skills shortages. […] 
For several decades there has been a grand exodus of manufacturing from the traditional European and American bases to lower cost countries, especially China. As the Chinese labor market has begun to mature workers are beginning to demand higher wages and a number of companies have undertaken “homeshoring” or “reshoring” of their manufacturing, bringing production back stateside. However, a new phenomenon is beginning to be felt – nearshoring, or moving final production closer to the end market. […] While “offshoring” has been the word common to manufacturing for some decades, changes in the economic environment are making “homeshoring” more and more attractive, with a number of manufacturers actively moving their offshore operations back to the home turf. “Total Cost of Ownership” (TOC), a new holistic view of manufacturing, takes into account costs of […] |
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