Has Reshoring’s Time Finally Come, Thanks to the Pandemic?

Harry Moser’s phone and email have been ringing off the hook. Moser is the founder and president of the Reshoring Initiative, whose mission is to convince companies to bring manufacturing, and manufacturing jobs, back to America. Reshoring was already gaining momentum prior to the coronavirus outbreak, but the pandemic has infected the marketplace with a greater awareness of the vulnerability inherent in global supply chains and a greater sense of urgency about the need for reshoring.

A recent survey by Thomas.net found that the coronavirus pandemic has prompted many U.S. manufacturers to examine how to bring at least some of their operations back home. Nearly two-thirds of North American manufacturers said they are interested in bringing production and sourcing back to the continent. Steel Market Update readers report that reshoring is top of mind among their customers. “We know several customers that are looking at the possibility of reshoring. They were prior to Covid-19, but this event has given more credence for the need to reshore,” said one executive. Added another: “Anyone that is buying product offshore is either going to try and bring a portion of it back home or at a minimum will develop alternate sourcing options to offset the risks involved with buying outside of North America.”