Industrial Heating, during a Q&A session at FNA 2020, announced that it will support the Reshoring Initiative with a $2,500 sponsorship. The mission of the Reshoring Initiative is to bring good, well-paying manufacturing jobs back to the United States by assisting companies to more accurately assess their total cost of offshoring and to shift collective thinking from offshoring is cheaper to local reduces the total cost of ownership. As part of this new relationship, the Reshoring Initiative will provide Industrial Heating with editorial content throughout 2021.
COVID-19 has revealed deadly shortages of medical products due to 90-95% dependence on imports, especially from China. Companies are scrambling to implement short-term emergency assembly and create domestic sources for critical imported components. Similar dependence is true in many key industry sectors, including defense. It is clear that shorter supply chains are stronger, more competitive supply chains.
During Friday’s FNA 2020 session, Industrial Heating Publisher Erik Klingerman interviewed the Reshoring Initiative’s Harry Moser, who said that shorter supply chains are more profitable for OEMs and suppliers. About 900,000 manufacturing jobs have come back to the U.S. since 2010, and the Reshoring Initiative’s goal is to increase that number to 5 million.