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U.S. consumers are increasingly concerned about how their buying habits affect the environment. In fact, a recent Nielsen study found that 48 percent of U.S. consumers would change their buying habits to reduce environmental impacts.
In my last column, we discussed how a shift in consumer behavior and the adoption of new technology are transforming the traditional supply chain. We learned that some manufacturers are making the complex move to cut out the middleman and ship their products direct to consumers (D2C) for increased profits and greater control over brand, price and customer data.
More than 170,000 new U.S. manufacturing jobs were announced in 2017 as a result of either reshoring or foreign direct in-vestment (FDI). That's an increase of 52 percent from 2016 and an incredible 2,800 percent from 2010.
For the past several years, the Reshoring Initiative has been helping manufacturers reshore production or keep existing work here through total cost of ownership (TCO) analysis. However, calculating TCO is only part of the overall competitiveness equation.
For the first time in decades, more manufacturing jobs are returning to the United States than are going offshore. The reshoring trend is at record levels, and I need your help to drive more growth!
Use the Total Cost of Ownership Estimator (TCO) to make a strong case when selling against offshore competitors! Sixty percent of companies make sourcing decisions based on rudimentary metrics, such as wage rate, ex-works price or landed cost, often resulting in a 15 to 30 percent understatement of actual offshoring costs.
In my December column, I discussed how total cost of ownership (TCO) can reveal the hidden costs of offshoring and determine the real profit and loss impact of reshoring and offshoring.
