Howell, the David T. McLaughlin D’54, T’55 Distinguished Visiting Professor of Business Administration, explains that there will be a new division of labor in terms of where goods and services come from. “The migration of high-volume, relatively simple, high labor content, low cost to produce and ship products, which do not need to be delivered instantaneously, will continue to chase low labor cost locations in the developing, and even underdeveloped, parts of the world,” Howell tells the Journal.
“On the other hand, ‘one off’ or very low volume, more complex, more challenging to produce and much more expensive to ship products, will be produced closer to their ultimate end customer,” he continues.
Read the full story, published 6/12/13 by The Wall Street Journal.