For decades, American companies have relied on overseas factories to reduce costs. Access to cheap labor contributed to this trend, but a growing number of factors are contributing to a rejuvenation of U.S. manufacturing.
A recent study by the Boston Consulting Group (BCG) found that 54 percent of executives are considering reshoring production of essential components or products. The move could help restart a manufacturing industry that has seen little improvement in recent years.
"Over the past couple of years, we've projected an improvement in U.S. manufacturing competitiveness by 2015 that would help drive an American manufacturing revival," said Harold L. Sirkin, BCG senior partner and co-author of the study. "The results of our latest survey make clear that a profound shift in attitude is beginning."
If companies want to take advantage of the skills and innovation available from American manufacturers, then the relationships developed at industry trade shows can be an essential step. These events provide manufacturers the opportunity to showcase various advances in production technology that could secure contracts. One of the key factors driving the reshoring movement was the product quality offered by localized companies. Thanks to innovation and improved production strategies, American manufacturers are able to deliver high-quality, customized goods to their clients.
Many of the manufacturing tools used in this process are on display at the Wichita Industrial Trade Show. The Wichita Eagle reported that 4,000 to 5,000 people will attend the event to view everything from milling machines to water jets to robots. Companies are provided with opportunities to showcase new services or equipment and find new business partners. Similarly, manufacturers able to utilize the latest machines to improve production may find their services in demand. The lead generation provided by this trade show, and others like it, will be essential to growing U.S. manufacturing.