Made in America
ABC News recently did a Made in America segment where they worked with a family to furnish three rooms (Kitchen, Bathroom and Living Room) exclusively with products that are Made in America. The findings were almost all items could be sourced from American companies at comparable prices to foreign competitors, except televisions; televisions were no longer manufactured in the US. Also, the findings were only high end Refrigerators and Stoves are still Made in America.
Here are some of the facts:
- In 1960, foreign goods made up just 8 percent of Americans' purchases. Today, nearly 60 percent of everything we buy is made overseas
- 2010 US Imports were 1.935 trillion while 2010 US Exports were 1.3 trillion. This equates to $695.04/month per American Adults (232 million American Adults). While goods and services exports total about $517/month per American Adult. (Made in the USA Certified made the claim if each American Adult reduced their spending on foreign made products by $180/month we could eliminate our trade deficit)
- If every American spent an extra $3.33 on U.S.-made goods, it would create almost 10,000 new jobs in this country
Chart from Made in the USA Certified
These facts are spurring a new spirit of Economic Nationalism where Americans are seeing the current US trade deficit as unsustainable and the need to create more jobs in the US by purchasing more items Made in America and exporting these goods to the emerging middle classes all around the world.
Also, other trends positively impacting American Manufacturing are:
- Increase in Cost of Foreign Workforces while American Workforce Cost are Flat
- Companies Desire to be more responsive to customers (long lead times of manufacturing overseas)
- Cash Management – overseas orders have to be paid for before they are shipped and it may be 30 days before the products arrive in the US
- American Productivity – American Manufacturing has been able to produce more output with fewer workers due to automation and work processes.
For companies that are looking for ways to become even more productive, feel free to read my book – The Consumer’s Workshop: The Future of American Manufacturing or contact us to see if we can help.
Thanks,
Ben Moore
President
Agent Technologies, Inc.
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The Consumer's Workshop: the future of American manufacturing
The Consumer's Workshop: The Future of American Manufacturing is a hand book on how to setup the systems within your company and create the workforce you need to be successful now and in the future. Written by authors that have worked at some of America's largest manufacturers, founded their own manufacturing organizations and helped numerous small manufacturers grow.
The Consumer's Workshop: The Future of American Manufacturing is a must read for today's business leaders. It is insightful and provocative in its approach to where US manufacturing has been, how manufacturing got into the troubles it faces today and what we need to do to become the standard for world class once again. If we want to know how to regain that competitive edge once again, the roadmap is certainly the pages of The Consumer Workshop.
-- Bruce Vaillancourt,Director, NIST MEP Program, TechSolve, Inc.
 The Consumer's Workshop is an extremely timely review of how manufacturing strategy developed in the past
and how it will change in the future. The author team clearly demonstrates that companies have to change -- and provide plenty of advise how such a change should take place."
-- Frank Piller, PhD, International Manufacturing Consultant
As the authors make clear, eventually American manufacturing will become the workshop for direct production of consumer's own designs -- or it will be no more. Begin that path by following the steps outlined here."
-- B. Joseph Pine II, author, Mass Customization: The New Frontier in Business Competition
Investment: $12.99
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Made in America
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Manufacturing Statistics March 2011
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Manufacturing Statistics
1) Industrial production decreased 0.1 % in January 2011. For Manufacturing, output increased 0.3 % in January 2011. Source: Federal Reserve Board
2) Nonfarm payroll employment increased by 192,000 in February 2011. Manufacturing employment increased by 33,000. Unemployment rate decreased to 9.0% nationally. Source: Bureau of Labor Statistics
3) Manufacturing Trade Deficit increased to $46.3 billion in January on exports of $167.7 billion and imports of $214.1 billion. Sources: Census Bureau, Bureau of Economic Analysis
4) New orders for durable manufactured goods in January increased $5.3 billion or 2.7 percent to $200.5 billion. Source: Census Bureau
5) Inventories of manufactured durable goods in January increased $2.2 billion or 0.7 percent to $324.8 billion. Source: Census Bureau
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