Read this Interview with Rosemary Coates, from Reshoring Institute, one of our Speakers, for the Supply Chain Planning Live.
BTOES Insights Question: Briefly describe your job role in your organization, and what your top priorities are right now?
Rosemary Answer:
I am the Executive Director of the Reshoring Institute, a non-profit and non-partisan research and consulting organization. We have a dual mission: to help companies re-establish or expand their manufacturing in the U.S. and to teach graduate student interns about manufacturing as they will become the manufacturing leaders of the future.
BTOES Insights Question: What do you expect to be the most critical initiatives you (or your clients) need to focus on over the next 12 months?
Rosemary Answer:
Over the next 12 months, most of our clients are increasing their domestic sourcing of raw materials and products. This is a reaction to the risks inherent in global supply chains that were exposed by the pandemic. Companies are making an attempt to source more in America and developing new sources domestically. This is not an easy task. We are assisting several clients in finding domestic sources and if that source has to develop a new product for you, it can take 12-18 months.
Workforce shortages are also a major challenge for manufacturers. As manufacturing jobs become more sophisticated, the required skills change. Manufacturers need skilled workers to run robots, operate complex machine tools, and do 3D printing. Workers in these areas are in very short supply.
Click Below To View Recorded On-Demand Session Video:
BTOES Insights Question: What do you see as the biggest trends affecting your organization (or your clients) over the next 12 to 18 months?
Rosemary Answer:
The biggest trend is to manufacture closer to your markets. This may mean reshoring manufacturing to America or nearshoring to Mexico. To optimize the costs associated with production and stay competitive, automation must be introduced to extract labor and become cost-competitive. In addition, logistics costs have skyrocketed over the past two years, and manufacturing closer to your markets, means less logistics costs and a smaller carbon footprint.
About the Author
Founder, Executive Director, Chairman of the Board,
Reshoring Institute.