So manufacturing is coming back to the U.S. after all? Guess it depends on whom you ask.
Strong evidence of a reshoring trend — the relocation of production from China and other parts of East Asia back to the U.S. — can be found in the 2021 annual report of sourcing specialist Thomas. It contradicts the contention of some industry experts that China will remain the dominant source of manufacturing for U.S. importers of consumer goods for the foreseeable future. On this episode, we’re joined by Thomas president and chief executive officer Tony Uphoff, who offers numbers showing a “dramatic” increase in reshoring in the past year, with some 83% of surveyed companies saying they’re likely to reshore all or some of their production in the near future. It that happens, Thomas estimates, it could drive some $443 billion in U.S. economic value over the next year. Uphoff discusses what kinds of investments American producers must make in order for that to occur. Hosted by Bob Bowman, Editor-in-Chief of SupplyChainBrain.
Author Robert J. Bowman, SupplyChainBrain
The Thomas annual report, “State of North American Manufacturing 2021.”
Timely, incisive articles delivered directly to your inbox.