MADE IN AMERICA, AGAIN
For years, conventional wisdom has maintained that manufacturing in the United States is in terminal decline. But now the tide is turning. Rising wages and currency rates, among other factors, have dramatically narrowed the gap between manufacturing costs in China and the United States, with the result that several US companies are now bringing manufacturing jobs home to America.
In The US Manufacturing Renaissance: How Shifting Global Economics Are Creating an American Comeback, authors Harold L. Sirkin, Justin Rose, and Michael Zinser provide historical perspective on why the death of US manufacturing has often been predicted—but failed each time. And why the present will be no different.
This ebook also explores:
- How China became the default location for manufacturing
- How the United States has responded to previous threats to its manufacturing base, from Japan in the 1970s; Korea, Taiwan, Hong Kong, and Singapore in the 1980s and 1990s; and China now
- The 7 tipping-point industries that stand to gain the most from reshoring
- What the US government can do to accelerate bringing jobs home
- 4 strategies for succeeding in the manufacturing renaissance
Based on new research drawn from The Boston Consulting Group’s “Made in America, Again” series and the success stories of companies that have successfully reshored, The US Manufacturing Renaissance offers a recipe for an American manufacturing renaissance that will ensure the long-term success of the US economy.
ABOUT THE AUTHORS
HAROLD L. SIRKIN
Harold L. (Hal) Sirkin is a senior partner in the Chicago office of The Boston Consulting Group (BCG) and an expert on the subjects of globalization, operations, innovation, and change management. He is also lead author of BCG’s ongoing study of “reshoring,” the emerging trend of manufacturing returning to the US from China and other countries. He and his coauthors have predicted a US “manufacturing renaissance” starting around 2015 due to the shifting global economics of production.
Until recently, Hal was global leader of BCG’s Operations practice, which includes manufacturing, procurement, supply-chain management, asset productivity, and cost reduction. Prior to that, he served as global leader of the firm’s Information Technology and E-Commerce practices. He has more than 30 years with the firm and extensive experience across a wide range of topics, industries, and geographies.
Hal has been a guest on CNBC, CNN, ABC, NBC, CBS, Fox Business Channel, NPR, and numerous other broadcast outlets. He has also contributed commentary to leading publications such as The Wall Street Journal, The New York Times, the Financial Times, Bloomberg Businessweek, The Economist, Newsweek, and Time.
In addition, he has authored or coauthored numerous publications, including three Harvard Business Review feature articles: “Fix the Process, Not the Problems” (1990), “Innovating for Cash” (2003), and “The Hard Side of Change” (2005). Other articles have appeared in outlets such as WSJ.com, HBR.org, Barron’s, Strategy and Leadership, the Journal of Business Strategy, The Huffington Post, and IndustryWeek. Currently, he contributes weekly to Businessweek.com’s The Management Blog.
In 2007 he coauthored the book Payback: Reaping the Rewards of Innovation (Harvard Business Review Press). His latest book, Globality: Competing with Everyone from Everywhere for Everything, was published by Business Plus, a division of Hachette Books, in June 2008.
He earned an MBA from the University of Chicago (first in his class) and a BS from the Wharton School (summa cum laude). He is also a CPA.
Justin Rose is a principal in the Chicago office of The Boston Consulting Group (BCG). During nearly a decade with the firm, he has worked across a wide array of industries, including industrial goods, energy and consumer goods. He has extensive experience in helping shape the strategy of major manufacturers as well as advising cabinet-level government officials on policy.
Recently, he has been project manager and co-author of BCG’s “Made in America” reports, which in part drew from his experiences while based for extended periods in Mexico, Thailand, and Japan. He is currently working with a major international steel manufacturer to revitalize its US operations through identifying and executing a series of operational improvements.
Justin has an MBA from Northwestern University’s Kellogg School of Management and two bachelor of science degrees in mathematical methods in the social sciences (MMSS) and economics from Northwestern, which he was awarded with honors. In 2012, Justin was named one of twenty “Emerging Leaders” in the City of Chicago.
Michael Zinser is a partner in the Chicago office of The Boston Consulting Group (BCG) and an expert on manufacturing, including lean manufacturing, end-to-end supply chain and network optimization, post-merger integration, LCC production, and transformation initiatives. He is an author of BCG’s ongoing study of “reshoring,” including the reports “Made in America, Again” and “US Manufacturing Nears the Tipping Point.”
Michael originated BCG’s Rapid Plant Operations Diagnostic and is the firm’s topic leader on Manufacturing in the Americas.
He has coauthored articles for the Harvard Business Review Online and bcgperspectives.com, and has been featured in leading news outlets such as The New York Times, Associated Press, Forbes, ABCNews.com, MSNBC.com, and The Huffington Post.
Michael earned an MBA from Stanford University and a BBA in finance from Notre Dame (first in his class).
ABOUT THE BOSTON CONSULTING GROUP
The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 77 offices in 42 countries. For more information about BCG, please visit: http://www.bcg.com.
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