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After years of building what they hoped would boost profits by enhancing overseas operations, many U.S. manufacturers have become disillusioned by the lack of the return on investment they had anticipated.

Instead of finding cost-saving benefits overseas, they are finding headaches, which have spurred a growing number of American companies to head home and build upon the sturdy and sure bedrock of American stability and predictability. This has come to be known as “near-sourcing.”

Near-sourcing has been defined in professional publications as ...