Faircast Inc. prides itself on sourcing all of our iron castings in foundries right here in the United States. We don’t outsource or contract our casting work to any overseas entity. What is significant about that? Why does that help not just Faircast Inc. but others as well?
One clear benefit is that our foundries being located in the United States means that the money stays here. With the acquisition of Galesburg Castings, all our manufacturing is still centered in Iowa, which means our client’s money and our main activity remain in the place where the foundry began. That provides benefits to the local community in several ways. The property and other taxes generated by the iron foundry stay in the local community benefit the schools, roads, and other services that our employees use every day.
Speaking of employees, since we keep our iron casting operations local, we can employ more people in the area, which means our employees are more invested in their jobs and the company’s overall good. After all, the better Faircast does, the more people that can be employed at better wages. In addition to helping employ the people in the surrounding area, all those who work our iron foundry also spend their money locally. People working at the foundry means more support for the local grocery store, the movie theater, and the owner of the small hobby shop. Keeping things local means growing the local community.
We also have greater control over the quality of our product. Being in total control of the manufacturing process from start to finish means that we are also in control of all the many processes needed to remove the impurities out of the raw iron that gets smelted before being turned into castings. Should a problem be identified, we can quickly test our products to determine if the problem is isolated or a genuine issue with a process or equipment piece. We can then trace the problem back to its source and fix or adjust the equipment or processes as necessary.
If we let another company handle the sourcing of our iron castings, resolving any potential problems would be much slower. There would be a long series of phone calls or emails in which both parties are wasting time trying to understand each other. That could take days or weeks before even beginning to look for a solution. That is valuable time in the highly competitive iron foundry world. When wasted cuts into all the benefits just mentioned above. Keeping things local means that Faircast Inc. can more easily keep projects on time and under budget.
It’s also worth noting that given the shifts in global politics and the global economy, keeping our casting local provides more stability to our clients and employees. When operations are outsourced to another country, it opens up a company to a whole set of variables that otherwise need not concern itself. Those variables include cultural differences and expectations about things like work and life balance. A foreign government can suddenly institute policy changes that can significantly affect the operation of the manufacturing facility contracted to do the work. Those policies can involve labor laws, how much material is allowed to go overseas, how much raw material might cost, and several other possibilities. That touches on perhaps the most significant variable in working with overseas companies, international trade politics. There may well be policy changes made by multiple parties that will affect the cost and even the availability of particular products. When those policies involve increased inspections, tariffs, and oversight requirements, it can drastically affect the manufacturing costs of castings and how much time it takes to get them in. Then some crises can come out of nowhere. The recent COVID-19 pandemic has disrupted the international supply chain in nearly every industry.
By keeping our casting operations local to our home in Iowa, Faircast Inc. can avoid most of these variables’ effects. This allows us to run safely, reliable, and predictable, which doesn’t just benefit us; it benefits the whole community.