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?
Hurricane Milton has blown through Florida. In addition to continuing havoc since it occurred close behind Hurricane Helene, it has created further supply chain disruptions that will have ripples throughout the globe.
Given the uncertainty of the economy creating extreme push outs and pull ins with customer orders, only those companies that can successfully deal with uncertain and changing conditions can thrive. Better utilizing ERP, quoting, and CRM systems to automate planning and scheduling processes enables quicker pivots to satisfy changing customer conditions with greater stability for operations.
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%.
Download Lisa's mid-year special report, FutureScape: Crafting Tomorrow's Supply Chain Today.
During a discussion with manufacturing and supply chain professionals at the Association of Supply Chain Management chapter of Orange County, California, we reviewed the top supply chain challenges impacting clients and colleagues around the world.
With the significant amount of disruption in the global supply chain, companies have started to focus on what could help them better weather the storm.
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.
There is substantial geopolitical risk with China. Look no further than the South China Seas. Philippine officials say Chinese forces seized two naval boats in a disputed South China Sea shoal. A few days prior, a Philippine ship and a Chinese vessel collided. It is a risky situation in the South China Seas.
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.