IndustryWeek Releases 2023 IndustryWeek U.S. 500 List
CLEVELAND, OH//May 24, 2023 –
Bye, Apple. See Ya, Nike. IndustryWeek Boots Big Names from Its Annual List of Largest Manufacturers
Many of the largest companies that sell products to consumers in the U.S. outsource all production to suppliers.
These and 69 other large companies headquartered in the U.S. outsource all their production to suppliers and no longer earning the mantle of “manufacturer.”
Many of the United States’ largest consumer product companies and industrial giants don’t make anything and no longer belong on a list of the country’s top manufacturers, editors at IndustryWeek, the leading news source for manufacturing leaders, determined.
The IndustryWeek U.S. 500 list has tracked the largest publicly traded manufacturing companies in the U.S. since 2002. For much of that time, Apple has been among the Top 5 companies, coming in No. 1 last year. For the 2023 list, however, editors eliminated Apple and many others that outsource production or are only tangentially related to manufacturing.
The 71 companies removed include:
- Apple Inc.
- ConocoPhillips Co.
- Nike Inc.
- Nvidia Corp.
- Hasbro Inc.
“For the past several years, we received many complaints about the inclusion of Nike and Apple—especially Apple because it dominated the list many, many times,” said IndustryWeek Editor-in-Chief Robert Schoenberger. “So, we added an extra step to our data collection. Instead of only looking at self-reported industry codes, we went through the annual reports of each company to see what they had to say about their manufacturing activities.”
For example, Apple said in its annual filings: “Substantially all of the Company’s manufacturing is performed in whole or in part by outsourcing partners located primarily in Asia, including China mainland, India, Japan, South Korea, Taiwan and Vietnam.”
Nike’s manufacturing statement read, “Virtually all of our footwear and apparel products are manufactured outside the United States by independent manufacturers with whom we contract and refer to as ‘contract manufacturers.’”
Nearly a quarter of the eliminated companies are clothing or footwear producers. Of the 21 companies initially identified as U.S.-based producers, only four apparel companies made the final list—Hanesbrands Inc., Levi Strauss & Co., Columbia Sportswear Co. and Kontoor Brands Inc. (makers of Lee and Wrangler jeans).
For a story about why we removed companies and what those companies say about their manufacturing activities, click here. For a full list of companies pulled from the list, their industries and their financial performances, click here. For the full IndustryWeek U.S. 500 list and analysis of how manufacturers performed in 2022, click here.
About IndustryWeek
Founded in 1970, with predecessor brands going back to 1882, IndustryWeek is the leading news and information resource for people leading manufacturing companies. With coverage of leadership, continuous improvement, talent, technology and supply chain issues in manufacturing, IndustryWeek.com produces bi-weekly livestream chats, annual lists of the 500 largest and 50 best U.S. manufacturers, the annual IW Best Plants awards, an annual Technology Survey and an annual Salary Survey. IndustryWeek is owned by Endeavor Business Media. For more information, please visit www.industryweek.com.
Endeavor Business Media
Headquartered in Nashville, Tennessee, Endeavor Business Media was formed in 2017 to acquire and operate business media brands, events and marketing solutions. Today the company is one of the largest B2B Media companies in the US with more than 700 employees, 9,000 customers and a database of over 12 million business professionals. The company serves business professionals and marketers in key business sectors such as aviation, buildings, construction, dental, electronics, energy, healthcare, manufacturing, networking systems, public safety, transportation, and water. The company has offices in Nashville, TN; Tulsa, OK; Nashua, NH; Birmingham, AL; Sarasota, FL; Skokie, IL; Fort Atkinson, WI; Houston, TX; Independence, OH; Fort Collins, CO, and Overland Park, KS. To learn more, visit www.endeavorbusinessmedia.com.