Made Here: Manufacturing insights and outlook

Michelle Di Gangi
Posted by Michelle Di Gangi
Small Business Banking

Because of the importance of small- and medium-size manufacturers to the economy, Bank of the West Chief Economist Scott Anderson took a look at the sector in “Made Here: The Business Outlook for U.S. Manufacturing.”

Graphic of title page from 'Made Here' outlookWhat he found is that economic data shows that the U.S. manufacturing sector is experiencing healthy growth and is in an excellent position to win against overseas competitors.

In addition, Bank of the West small- and medium-size manufacturing clients believe that being close to the U.S. customer is a powerful competitive advantage that is likely to intensify as customers are demanding more responsive service, more customization, and faster delivery.

Take a look at our white paper and let us know what you think.

Afterward, you can read the full interviews with the selected manufacturing clients:

Reminder: All comments are moderated prior to publication and must follow our Community Guidelines.

  • Anonymous says:

    We agree that many companies are reshoring and considering reshoring to minimize risk, increase quality and locate in a closer proximity to customers for flexibility and responsiveness.

    Labor cost savings that drove companies to offshore have narrowed, causing companies to reevaluate total costs.

    Localization often reduces total cost by improving flexibility, eliminating higher shipping expenses, minimizing supply chain disruptions and promoting R&D and innovation.

    The Reshoring Initiative Can Help.
    The not-for-profit Reshoring Initiative’s free Total Cost of Ownership software helps corporations calculate the real P&L impact of reshoring or offshoring. In many cases, companies find that, although the production cost is lower offshore, the total cost is higher, making it a good economic decision to reshore manufacturing back to the U.S.
    http://www.reshorenow.org/tco-estimator/

    Reply | 4 years ago

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