Issues in the Brief
Transitioning to a Digital Supply Network
In an increasingly digital world, surrounded by connected devices, manufacturers are recognizing the necessity and benefits of moving from a linear supply chain model to a flexible, digital supply network (DSN). DSNs integrate data and information from the various sources that contribute to the production and distribution of manufactured goods. This data is available instantaneously, allowing manufacturers to make quick decisions and adapt to changing market needs. Additionally, DSNs reduce product costs, increase profitability, and improve quality. With wide-ranging benefits, one would expect that a majority of manufacturers have implemented DSNs. However, according to a survey conducted by MAPI and Deloitte, only 28% of respondents have started implementing DSN solutions.
Who’s Leading Us Anyways: Identifying and Developing Your Future Leaders
One of the biggest challenges that CEOs face is developing next-generation leaders. If you have top talent, you must be able to identify them, invest in their development, and challenge them to keep them. In this article, we outline the skills that make a great leader in today’s complex and rapidly changing business environment and tactics companies can employ to make and shape their future leaders and create a sustainable leadership pipeline.
Changing Nature of Ocean Traffic After Panama Canal Enlargement
The 2016 Panama Canal expansion added a third set of locks while doubling its shipping capacity. With the physical enlargement came a new transit booking system and a slot auction. Both addressed bottlenecks by shortening wait times at peak seasons. In its first fiscal year of operation, the number of ships rose 3.3% while total tonnage increased 22%. This singlehandedly stemmed from the new maximum size of Panama vessels that can transit. As expected, the expansion resulted in some diversion of traffic, higher demand for passage, and new investment in ports – primarily on the East Coast – to accommodate larger ships. The greatest potential impact for manufacturing companies will be on trucking capacity.
A Financial Wake-Up Call for Manufacturers
Recent turbulence in the stock market is a wake-up call to manufacturers, and to all businesses. The measurable rise in the yield on the 10-year Treasury note, now at the highest level in four years, has arguably been the primary catalyst for the equity market rout. This rise spurred to some extent by credible hints that long-dormant inflation might be on the cusp of increasing, has been a signal that financial conditions will eventually, and perhaps quickly, tighten to more normal levels.
Full Recovery in Sight: U.S. Manufacturing Predicted to Regain All Output Lost in the Great Recession by April 2019
After years of post-financial crisis struggle, the U.S. manufacturing sector finally has a range of recovery tailwinds that are catalyzing its increasingly sunny outlook. The world is now experiencing a strengthening economic rebound, with every major region enjoying stable performance.
Marked Strengthening in the U.S. Manufacturing Outlook
The global economic rebound, tax reform law, and the resumption of a dollar depreciation that began in early 2017 influences the MAPI Foundation’s outlook for the best U.S. manufacturing growth performance in more than a decade.
Ignorance Isn’t Bliss. The Impact of Opioids on Manufacturing
The intersection of the opioid crisis and manufacturing is poised to be a drag on U.S. competitiveness. Each addict and overdose death is one less non-disabled adult in the labor market, but the undermining power of the drug crisis also hits manufacturing’s existing workforce too. Nearly one in 20 employees will misuse opioid prescriptions in some way this year, and this makes them susceptible to addiction.
ITR’s Q3 U.S. Customer Markets Forecast Report is now available. This report forecasts over 30 different popular fluid power markets. Identify which phase of the business cycle a market is in and where it is headed in the future. Highlights from this report include: Oil and Gas Extraction Production is currently in phase B, accelerating…
2022 Industry & Economic Outlook Conference (IEOC)August 16 – 17, 2022The Westin Chicago Northwest Register | Book Your Hotel Room If you haven’t already made your plans to attend NFPA’s 2022 Industry & Economic Outlook Conference (IEOC), there’s still time to register! The conference will be held at the Westin Chicago from August 16-17. The conference features an all-star…
September 1, 2022 | 8:00am– 12:30pm (Central)Virtual Delivery It’s time to start making your plans to attend the September NFPA/FPIC Quarterly Conference. The upcoming conference will take place September 1, 2022 and will be held jointly with the Association for Equipment Manufactures. The conference focus is on increasing efficiency and reducing emissions with electric-powered hydraulics…