- Kids’ art supply maker Crayola went against the corporate grain in the early 2000s when, instead of offshoring production, it invested money into making products better and faster. CEO Pete Ruggiero explains why that process was the right choice for today’s tariff economy.
Two decades ago, the name of the game in U.S. manufacturing was offshoring. Just as China was entering the World Trade Organization and ramping up its capabilities, it seemed like every U.S. company from General Motors to Dell was racing to move its operations outside the country. The ethos was exemplified by General Electric CEO Jack Welch, a ruthless cost-cutter who led “supplier migration” conferences and once quipped that, in an ideal world, a company would “have every plant you own on a barge to move with currencies and changes in the economy.”
