by McIntosh | July 27, 2017 2:17 am
Walmart Inc. has supposedly met with government and business leaders in Washington on Wednesday to reveal a plan to boost growth in domestic manufacturing endeavors that company executives believe will create an estimated 1.5 million new jobs for Americans.
The meeting was met with a discussion among key individuals on both sides of the political spectrum about the biggest obstacles the U.S. manufacturing sector currently faces. Using an analysis by the Boston Consulting Group and Walmart sourcing data, the company came up with a 10-point plan to “recapture” an estimated $300 billion in imported consumer goods, which will have the effect of raising job growth as a result.
Cindi Marsiglio, Walmart vice president for U.S. Sourcing and Manufacturing, had this to say about the venture:
“As we’ve worked over the last four years alongside our suppliers toward our goal to source an additional $250 billion in products that support American jobs, we’ve learned a great deal about the challenges our suppliers face in domestic manufacturing. The good news is we’ve also learned how to overcome the challenges and, because of our experience, Walmart is uniquely positioned to help facilitate broad engagement in accelerating the expansion of U.S. manufacturing.”
Walmart’s “policy roadmap Opens a New Window.” to assist U.S. manufacturing comes days after President Trump’s administration put on the “Made in America” week at the White House. The event spotlighted companies and products that have been made in each of the 50 states in a move meant to reinforce the President’s commitment to his “America First” policies.
The U.S. manufacturing index, which measures factory activity throughout the country, reached a near three-year high of 57.8 in June, with any reading above 50 being a sign of growth.
The Walmart-backed plan also strives for the ridding of so-called “policy barriers” that officials say are hindering growth in the domestic manufacturing sector. The four main detractors are as followed — a lack of eligible workers, extravagant government regulation, dated tax and trade agreements and a deficiency of coordination among suppliers.
This plan supposedly will turn it all around. We shall see.
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