I’m a big fan of the concept of Reshoring. Manufacturing builds wealth. Manufacturing creates jobs upon jobs upon jobs. And manufacturing replenishes itself, by accepting and training its next generations to carry on. Repatriation of the right production to the US is necessary to meaningful recovery.
And I’m also a big fan of The Reshoring Initiative – and its Sherpa, Harry Moser. They’ve done and are doing remarkable things to educate businesses on ‘total cost of ownership’ and trumpet the advantages of re-engaging US manufacturing into supply chains.
But Reshoring as a concept in and of itself likely isn’t sustainable. It’s a great start, but does it leave money on the table? Maybe simply repatriating production based on the same premise (costs) – even if Reshoring is a more accurate and thorough premise than that which sent jobs (and more) away in the first place – doesn’t do enough to ensure this won’t happen again.
There’s more at stake here. Instead of only focusing on Reshoring, we should be pushing the concept of ‘Manufacturing in Markets of Consumption (MIMOC).’