Now we are going to look at some short-term and long-term strategies that will enable the finishing industry to stay competitive as the globalization trend continues...
Offshoring - “Is this an economically and strategically viable option?”
A year ago we questioned the efficacy of this strategy as a way to truly be competitive in the global arena, and events such as those we discussed with China have borne this out. While economists are divided on whether a strong manufacturing sector is necessary for a robust national economy, as those dependent the manufacturing community we would argue that it is necessary... and will continue to be.
Outsourcing - “How can I leverage the globalization trend?”
The outsourcing trend, on the other hand, can more readily be embraced. We can keep manufacturing and finishing work in the U.S. and offer them at competitive prices by outsourcing services. How?