The Small Business Administration launched a Made in America Manufacturing Initiative. In this Supply Chain Byte, Lisa Anderson breaks down what this Made in America Manufacturing Initiative means for manufacturers, how it impacts supply chains, and what companies need to do to stay ahead, remain competitive, and leverage the opportunity. She emphasizes the importance of being ready to scale, upgrade systems and technology, and automate wherever possible to keep pace with market demands.
Since 99% of U.S. manufacturers are considered small businesses, this initiative is key in supporting manufacturers. The three tenants of the initiative include:
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Deregulation: Deregulation initiatives are estimated to save $100 billion in costs for manufacturers while improving the ease of doing business.
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Tax cuts: The proposed tax cuts will make manufacturers far more competitive, and they will gain access to investment funds to support innovation, technology upgrades, and capacity expansion.
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Workforce support: The SBA is focusing on workforce support, especially addressing the critical skilled labor shortage—an ongoing challenge and hot topic across the industry.
Additionally, manufacturing leaders will be asked for their input via the Made in America Roadshow. Now is the time to think about scaling, process improvement, and innovation. This Made in America initiative should be a call to action for manufacturers to ramp up, modernize, and future-proof their operations.
Rev up your engines—manufacturing in America is gaining serious momentum!
If you are interested in reading more on this topic:
Industrials & Manufacturing Roar Back
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LMA Consulting Group works with manufacturers and distributors on strategy and end-to-end supply chain transformation to maximize the customer experience and enable profitable, scalable, dramatic business growth.