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Manufacturers can reshore production without increasing costs
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Manufacturers can reshore production without increasing costs
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Trade Publication Article
Manufacturers can reshore production without increasing costs
2023
Overview
Cutting long transit lead times helps businesses regain competitive edge Over the last 20 years, manufacturers in North America and Europe have seen large numbers of jobs being lost while production has been \"outsourced\" to low-cost countries (LCCs). Over the two decades of our work on QRM, we have shown that these long lead times add a lot of indirect costs, including forecasting, planning (and replanning), managing work-in-process, warehousing of finished goods, freight costs for rushed shipping, time from salespeople and administrative staff to manage the delays, and many more such tasks. The reason is that historically, manufacturing companies were organized to minimize the unit cost of each operation and minimize the cost of each purchased item, but not to minimize the time it takes for products to flow through their system - in fact, quite the opposite; most of these decisions resulted in long lead times. Successful industry-university partnership At the QRM Center, we have not only demonstrated the successful partnership that can exist between university and industry but it has also enabled manufacturers to regain their competitive edge, reshore products, increase market share and profitability, and create significant numbers of manufacturingrelated jobs in their communities.
