In this webinar, expert speaker Michele Nash-Hoff will provide you the answers to the above while helping you understand the hidden costs of manufacturing offshore. You will also understand how to conduct a Total Cost of Ownership (TCO) analysis and what it should include.
Objectives of the Presentation
Why Should you Attend
- What elements of indirect and direct expenses should be added in a Total Cost of Ownership Analysis
- Hidden costs involved in outsourcing and the consequences of ignoring these costs
- Using the Total Cost of Ownership worksheet calculator developed by the reshoring initiative
- What has been the success in returning manufacturing to America using the TCO worksheet since it found in 2010
- How to select the rights parts and products to return to America
- Case studies of companies that have successfully returned manufacturing to America using a TCO analysis
It is crucial for American companies that do not have offshore plants to be trained on how to do a true Total Cost of Ownership Analysis using the TCO Estimator as a counter to the continuing trend of offshoring manufacturing jobs by multinational corporations that have facilities all over the world.
This session will discuss the factors that are changing supply chain dynamics that make offshoring less attractive and identify industries that have reached the tipping point of returning to the U.S. Michele will also describe the Reshoring Initiative's TCO worksheet and how to conduct a TCO analysis for determining whether to reshore or not by selecting the first products/parts.
Additionally, you will be provided case studies of the companies that have successfully returned manufacturing to the U.S. using a TCO analysis. Supply chain personnel and CFOs can play key roles in educating companies about the total cost of ownership and assessing the true costs of offshoring versus reshoring.
Who will Benefit
- Lessons learned, trends and projections from US and European manufacturers and retailers that have or will offshore, near shore or reshore their manufacturing or product supply networks
- Who decides on product sourcing strategy
- Whether companies are shifting product sourcing back from Asia to onshore or near shore locations
- Steps to consider as you face near shore / off-shore decision
- Owners and/or managers of job shop companies
- Supply chain professionals
- Purchasing managers and supervisors
- Trade Professionals
- Buyers, and sales personnel of Tier 2 and 3 vendors to Original Equipment Manufacturers
Information on how to do a Total Cost of Ownership analysis was developed by Harry Moser of the Reshoring Initiative in early 2010. Michelle Nash-Hoff has been an authorized speaker for the Reshoring Initiate since the fall of 2010 and has given dozens and dozens of presentations since then.