A From the Trenches Reshoring Perspective

 

Having owned businesses on both sides of the ocean has allowed me to see the effects of reshoring from two different perspectives.

I see reshoring as a trend that is good for all parties involved when the reasons for reshoring are identified and understood. The cost differential between U.S.-built tooling and Asian tooling continues to grow smaller and smaller. So does the quality expectation of molds built in both locations.

China provides the fastest growing market in the world for many industries including automotive, medical and packaging. I believe that over time the trade deficit will continue to decrease as both domestic and foreign entities sell into this market (versus solely exporting from it).

U.S. moldmakers who made it through our most difficult days have been forced to become much more efficient and produce higher quality levels than ever expected in the past. This has prepared them to tackle the challenges presented each day and better prepare them for our future.

I'm an avid sports fan at every level: high school, college and professional. I consistently hear fans talk about the concept of “playing down to the level of our competition” or needing to "play better teams to get better".

Is this any different in the “mold world”? Are we not all better competitors today than we were five years ago because we were forced to do so?

Reshoring is real, and it is good for everyone.