Although it starts with a depressing state of affairs for manufacturers, there is vast opportunity on the horizon. Manufacturing investments have been pouring into the U.S. and the three pillars of economic success are trending positive. Companies must prepare to scale and for success.
The economy has a distinct impact on manufacturing. Although U.S. manufacturing has gone sharply down with offshoring for lower wages, less regulations, and fewer hurdles, there remains a base crux of manufacturing might that is turning into a renaissance with favorable tax, tariff and interest rate policies.
Foreign Trade Zones (FTZs) offer numerous benefits to businesses operating in California, especially in light of the current tariff rates of 30% on imports from China and 10% on imports from other countries. These zones are designated areas where goods can be imported, stored, and manufactured without being subject to customs duties until they enter the U.S. market.
Lisa Anderson shares her thoughts on the outlook for supply chains in 2025.
Regulations can drive or derail progress in supply chains. In this Supply Chain Byte, Lisa Anderson discusses newly signed Executive Orders from President Trump, the impact of regulatory changes on industries, and why common-sense regulations are essential for customer success and business growth.
You would have to be hiding under a rock to not hear that the market sold off. The S&P 500 sold off 3%; the Dow tumbled 1,000 points, and tech company leaders lost a combined $1 trillion intraday (recovering almost half later in the day).
Manufacturers should work to reduce materials, energy consumption, and inefficiencies to improve their carbon footprint and achieve the triple bottom line.
Since packaging is typically 10-40% of the retail price of products, there is no doubt it adds up to a relevant factor in product cost and waste.
As companies are searching for ways to successfully navigate these turbulent times, the best ones are achieving a win-win focus on the customer and costs. Since the pandemic, there has been a heightened awareness of the customer experience as companies struggled with supply chain disruptions, delays, shortages, and the lack of resources.
Executives are struggling to keep up with inflationary raw material prices, elevated customer requirements, margin pressures, and the lack of people to fulfill key roles. Thus, they are looking to their ERP system and related supply chain technologies for answers.
