Is Tech the Answer to Solving the U.S. Manufacturing Plateau? Survey Says…
The U.S. manufacturing industry has been nothing short of tumultuous over the last few years. What was once a market amid major resurgence is now being monitored for decreased activity. In this session, we will explore which trends are impacting the manufacturing industry and offer advice for how to manage those changes in the years to come. Armed with data from 2017 and 2018 U.S. industry surveys, we will review: how government regulations influence manufacturers' strategies (From 2017 to 2018, manufacturers' optimism surrounding the administration's plans decreased), the technology manufacturers are investing in to innovate and grow amid industry changes (the top tool selected by 2017 respondents was big data analytics, while in 2018 it was wearables) and challenges to technology adoption, such as skills shortages and cybersecurity threats (34% of 2018 respondents noted that they lack the internal expertise required to adopt technology).
Matt Heerey - ECi Software Solutions
The New Dawn of Manufacturing in America
With passage of the 2017 Tax Reform, many companies have repatriated funds into the U.S. This is a grand opportunity to invest in American manufacturing. But suppliers and supply chains remain mostly overseas and subject to penalty import tariffs. So, what is your tariff strategy? Find suppliers in other countries? Use a Foreign Trade Zone? Develop new suppliers? Automate a brand new production line? According to a recent study, 54% of US manufacturers over $1 billion in revenue are considering re-shoring some or all of their manufacturing. Manufacturing is hot, hot, hot in the current economy. But it's not as easy to re-shore as you may think, and requires strategy, planning, and a commitment to invest. Rethinking manufacturing processes, factory design, automation, and finding workers with new skills are today's manufacturer's challenges. A new day is dawning in factories across America. Are you ready?
Rosemary Coates - Reshoring Institute at University of San Diego