With Every Crisis Comes Opportunity

With every crisis comes opportunity and clarity to our vulnerabilities. After years of offshoring, today China has considerable influence over the U.S. supply chain for the prescription drug industry and the manufacturing of components for the automotive and aerospace industries. We are now experiencing the effects of the strong influence China has on our economy.

A Future with More Stability

As of this writing it appears the coronavirus outbreak in China is slowing down, but its ripple effect will influence global business for some time to come. These circumstances are threats to our companies, our families and our communities – our very existence and way of life. But we can choose to chart a course to a future with more stability; one that we can more effectively control.

Bring Component Manufacturing Back to the Americas

According to a recent survey conducted by the National Association of Manufacturers (NAM), 35.5% of their member companies say they’re facing supply chain disruptions. Clearly it is time for manufacturing to diversify the supply chain and bring component manufacturing back to the Americas.

The Benefits of Reshoring

In the past, job shops in the United States manufactured these parts before they were offshored by American manufacturing companies. By committing to reshoring this component production, the entire supply chain would achieve significant benefits:

• More timely delivery of products to the marketplace
• Improved quality control
• Support of local and regional economies
• Continue to develop a skilled workforce
• Eliminate the uncertainties and fluctuations brought about by tariffs
• Take control of our destiny

See the Opportunity

Across the country we have very capable small- to mid-size manufacturers ready to take on the challenge of reshoring product so that we, collectively, can reduce our reliance on China. Those who can see the opportunity amidst the current challenges in the marketplace will become the leaders of tomorrow’s U.S. manufacturing industry.