What the Election Means for Manufacturing & Supply Chain
What does the election mean for manufacturing and supply chain? Will it be a continuation of the status quo, a surge for manufacturers, or a further dampening of the economy?
What does the election mean for manufacturing and supply chain? Will it be a continuation of the status quo, a surge for manufacturers, or a further dampening of the economy?
Hundreds of pagers used by Iran-backed Hezbollah exploded in Lebanon and Syria. It appears to be a part of a plan of sophisticated, deadly attacks that targeted specific people, leaving 12 dead and thousands injured.
According to the WorldMetrics.org report, 89% of manufacturers believe automation is key to increasing productivity. More importantly to increasing profitable growth, the report also finds that automation reduces manufacturing lead time by 75%.
There is a potential for chaos in the logistics world with simultaneous strikes from Canada's rail workers and the U.S. East Coast and Gulf Coast longshoremen. It is gaining in likelihood each day as negotiations are not progressing.
As geopolitical and economic risks rise, executives become more concerned. Proactive clients are taking action to boldly invest where it makes sense while aggressively focusing on inventory and cost reduction of non-value added items/ work and also ensuring high customer service levels.
If you follow the stock market, you might think the economy is strong. As consumers, we are frustrated with the price of everyday supplies such as food, gas, and housing.
There are many strategies to achieve innovation success. Here are a few that come to mind.
According to the ISM, "The Manufacturing PMI", a measure of manufacturing activity, registered at 48.5% in June, which is a decline from 48.7% in May.
The world faces economic headwinds. According to the Economist, Europe’s economy only grew at 4% this decade as compared with 8% of the United States and is struggling with a triple shock of the energy crisis, surging Chinese imports, and the threat of tariffs from the United States.
The medical device market is expected to grow by almost $178 billion from 2023 to 2027 according to Technavio. Moreover, a Fortune Business Insights Analysis estimates the market to reach $799 billion by 2030. With such significant growth, manufacturing and supply chains must scale and mitigate risk to ensure supplies to customers and patients.