So-called re-shoring is bringing back work, parts or tools that will finally be used in North America. That's the view of longtime manufacturing executive Harry Moser. "In other words, we're not saying that you should make everything here and ship it to China to assemble. We're saying if you have an end component that is sold into the North American market or assembled into a product at a North American factory or a tool that's used in North America, and you're now having that work done overseas, to evaluate the total cost of that subassembly or tool in the States versus overseas. We believe you will decide more should be sourced here."

On a macroeconomic level, re-shoring bolsters the U.S. manufacturing and defense base, creates jobs and reduces the trade and budget deficits. But Moser also believes there's an increasingly strong business case for bringing outsourced manufacturing work back to domestic soil, which he summarizes as a lower "total cost of ownership."

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