The Reshoring Initiative, whose ongoing mission is to broadcast the benefits of reshoring or bringing manufacturing jobs back to the United States, celebrated its first year of incorporation, as well as the achievement of significant national attention and support of its efforts. The number of companies and organizations that support its mission has more than doubled.

It now has 40 sponsors, primarily manufacturing technology companies and manufacturing associations, plus an economic development agency and an insurance company, all dedicated to the same goal: helping manufacturers and suppliers consider the total cost of ownership (TCO), the profit/loss impact of both offshoring and reshoring.

At the heart of the initiative is its proprietary Total Cost of Ownership Estimator tool, which helps users determine the total cost of offshoring by accounting for and understanding relevant offshoring costs. Those costs include inventory-carrying costs, shipping expenses, travel costs to check on suppliers, intellectual property risks, and the loss of innovation by separating manufacturing from engineering.

The Total Cost of Ownership Estimator tool is featured on the Reshoring Initiative website, as well as being included on the U.S. Department of Commerce websites (www.manufacturing.gov and http://nist.gov/mep/reshoring.cfm)  devoted to reshoring.

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