As a key competitive strategy we constantly struggle against in our industry, offshoring has been a largely debated topic in years past. While it is true that offshoring was and, in some part still remains, a competitive option for those in need of services brought about by American manufacturers, this option has grown to have more cons than pros. As a whole, what was once considered to be an increasingly cost effective option, has now been forecasted to reflect the exact opposite. Because of increased foreign investment over the years, wages for workers around the world have increased as a result. According to a recent study, several economies traditionally regarded as low-cost manufacturing bases (i.e. China, Brazil, etc.) have seen their cost advantages erode significantly since 2004 while US Manufacturing has considerably improved its cost structure. This is good news for national economic supporters as reshoring is starting to be brought back on the table again as a business strategy.
The below infographic, put together with research compiled by West Monroe, debates both options. More specifically, it details why reshoring is starting to become a significant keyword in the playbooks of modern American companies.
Introducing, the connoisseur of apparel decorations, the esteemed Professor Patch! Specializing in everything from product information to the best heat sealing techniques, he is sure to keep you up to date on everything you need to know about your garments and how to decorate them. World Emblem is working collaboratively with Professor Patch on a series of videos entitled, “Learn It In A Minute.” He will also be collaborating with The Daily Stitch as a guest blogger. Be sure to subscribe to The Daily Stitch to keep up date on the newest member to the World Emblem team.
- Here is the first video in Professor Patch’s introductory “Learn It In A Minute” Series! Check out the “Meet Professor Patch” section of our website for more.