PMA partners with NTMA/AMT to announce re-shoring initiative.
Press Release Summary:
PMA, NTMA, and AMT have announced 2010 NTMA/PMA Contract Manufacturing Purchasing Fair: Re-Shoring to Bring U.S. Manufacturing Jobs Back Home. To be held May 12, 2010, in Irvine, CA, it will help large U.S. manufacturers find competitive U.S. job shops to manufacture parts and tooling. More than 50 representatives from large manufacturers are expected to attend. Move to re-shore production has grown with higher transportation/fuel costs, wage rates, and reject rates in developing countries.
Original Press Release:
NTMA/PMA Announce Re-Shoring Initiative to Bring U.S. Manufacturing Jobs Back Home
The National Tooling and Machining Association (NTMA), the Precision Metalforming Association (PMA) and the Association for Manufacturing Technology (AMT) announce the 2010 NTMA/PMA Contract Manufacturing Purchasing Fair: Re-Shoring to Bring U.S. Manufacturing Jobs Back Home. With one stop, OEMs can find competitive U.S. job shops. The Re-Shoring Purchasing Fair will be held on May 12, 2010 at the Hyatt Regency Irvine Hotel, Irvine, CA.
The White House and Congress seem to announce each week a new plan to "Save U.S. jobs, especially manufacturing jobs." Re-shoring, also called "back-shoring" and "on-shoring," is a non-protectionist, private sector-driven way to reduce imports (and our trade deficit), increase our "net exports" and create jobs. Re-shoring means bringing lost manufacturing jobs back to the U.S. by uniting large manufacturers with competitive domestic suppliers. Going local can reduce a company's total costs and offer a host of other benefits, while bringing U.S. manufacturing jobs back home.
The NTMA and PMA re-shoring initiative will document to large manufacturers nationwide the benefits of sourcing in the United States. The highlight of the re-shoring campaign is the first-ever "Re-Shoring Fair" which builds on the 50 successful domestically focused Fairs held by NTMA over the last 25 years. It will provide a one-stop for larger U.S. manufacturers (OEMs) to find competitive U.S. job shops to manufacture parts and tooling. More than 50 representatives from large manufacturers are expected to attend and learn about competitive domestic sourcing opportunities from 200 top custom U.S. manufacturers.
The Fair is intended to change the sourcing paradigm from "Off-shored is cheaper" to "Local reduces Total Cost of Ownership" and will focus on machined, stamped and fabricated parts, special tooling (dies, molds, jigs, fixtures and gauges) and special machines. Work now being produced domestically is also welcome.
The government and media have focused almost exclusively on increasing exports. This initiative, instead, helps U.S. companies take the home field advantage, since they can be much more competitive in the U.S. vs. imports than trying to export to other countries.
The move to re-shore production has grown increasingly popular in the U.S. in the face of higher transportation and fuel costs, higher wage rates and reject rates in developing countries. Today, large manufacturers re-shore to:
o Reduce pipeline and surge inventory impacts on JIT operations;
o Improve the quality and consistency of inputs;
o Localize manufacturing operations near R&D facilities, strengthening innovation;
o Reduce IP and regulatory compliance risk; and
o Minimize carbon footprint
All while staying cost competitive.
NTMA/PMA spokespersons are available to further explain re-shoring, highlight success stories and provide further details on the Re-Shoring Fair. For more information on the campaign and the Re-Shoring Fair visit tiny.cc/YU9e2 or contact Christie Carmigiano at 216-901-9666 ext. 105 or ccarmigiano@pma.org.
