Manufacturers consistently buy on the basis of price without taking into consideration such factors as quality differentials, carrying cost of inventory, and the value of having manufacturing and engineering close to each other. These factors and more represent the true Total Cost of Ownership. Guest Harry Moser shows us how to use the free True Cost of Ownership Estimator tool available on the Reshoring Initiative website to truly understand the cost of sourcing overseas vs buying domestically.
Episode 777: Total Cost Of Ownership Part 2: How the True Cost of Ownership Estimator Tool Saves Money for Manufacturers
Harry founded the Reshoring Initiative to bring manufacturing jobs back to the U.S. after working for high end machine tool supplier GF AgieCharmilles, starting as President in 1985 and retiring 12/31/10 as Chairman Emeritus. Largely due to the success of the Reshoring Initiative, Harry was inducted into the Industry Week Manufacturing Hall of Fame 2010 and was named Quality Magazine’s 2012 Quality Professional of the year and FAB Shop Magazine Direct’s Manufacturing Person of the year. Harry participated actively in President Obama’s 1/11/12 Insourcing Forum at the White House, won The Economist debate on outsourcing and offshoring, received the Manufacturing Leadership Council’s Industry Advocacy Award in 2014 and the Made in America 2019 Reshoring Award. He was recognized by Sue Helper, then Commerce Department Chief Economist, as the driving force in founding the reshoring trend and named to the Commerce Department Investment Advisory Council in August 2019.
Harry is frequently quoted in the Wall Street Journal, NYT, Forbes, Financial Times, New Yorker, Washington Post and USA Today and seen on Fox Business, MarketWatch, PRI, NPR, Manufacturing Talk Radio and other national TV and radio programs. He received a BS in Mechanical Engineering and an MS in Engineering at MIT in 1967 and an MBA from U. of Chicago in 1981.
Mr. Lewis Weiss is Host of Manufacturing Talk Radio and President of All Metals & Forge Group, the principal sponsor of the show. He has 60 years in the metals industry as a manufacturer of open die forgings and seamless rolled rings, running a business that sells forged products globally to OEMs, major manufacturers, mid-size first- and second-tier suppliers, and small metalworking companies. Lewis Weiss puts his experience in manufacturing to good use as an expert consultant on various TV and radio programs nationwide.