During the interview, Dr. Lisa explained that “reshoring is when US companies have discovered that the price of producing overseas has gone up and it can actually be more financially attractive to bring jobs back and produce back in the US.” She discussed how inventory carrying costs, quality control and intellectual property rights are some of the points of concern for many businesses when they are doing business overseas.
Host Charles Showalter asked, “What would you say to a company today who is considering offshoring or a company that has offshored, in coming back to the United States?”
“If they’re considering offshoring, I would say this…Let’s be really upfront, let’s be really straight on what all the costs are going to be,” replied Dr. Lisa. “There’s some good information out there that you can find and help you to figure out some of those hidden costs that you might not be able to anticipate. So, just get really straight with that and make sure that you’re aware of all the potential costs, and then probably add a little bit more just to be safe. If you’re considering coming back, then likewise, look and see what all the true costs really are. What are all the potential costs out there that you may not have considered when you initially went overseas.”
Dr. Lisa continued, “I have a website where we curate, if you will, all the reshoring articles and news that are out there. So if you want to learn more about reshoring, get some of the numbers and learn about some of those hidden costs, you can go to that website and find hundreds of articles and posts there…that website is www.ReshoringMFG.com. So check that out, there’s tons of information there.”
The full 9-minute interview can be found here: http://reshoringmfg.com/
“Dr. Lisa” Lang is one of the foremost Theory of Constraints experts in the world and a sought after manufacturing expert having been named the 2012 Manufacturing Trendsetter in the USA Today for her inexpensive and guaranteed Velocity Scheduling System Coaching Program that has dramatically improved performance of well over 100 highly custom job shops and machine shops. She has also appeared in CBS News, The Wall Street Journal, Finance.com, About.com, NY Daily News, CNBC, The Boston Globe, The Miami Herald, and others. She is active in helping reshore manufacturing back to the U.S. and in the NTMA, PMA, and AMT communities having helped member companies to reduce their lead-times and improve due date performance. She worked with Dr. Goldratt who is the father of Theory of Constraints and author of the bestselling book, The Goal. Dr Lisa is the President of the Science of Business specializing in increasing profits of highly custom manufacturers by applying Theory of Constraints, Lean and Six Sigma to operations with Velocity Scheduling System and to engineering/
Learn more about Dr. Lisa at http://www.velocityschedulingsystem.com/