As companies navigate tariffs, geopolitical risks and high interest rates, there is an emphasis on reducing costs and inventory levels to free up cash and maintain profit levels while successfully serving customers’ ever-changing needs. The most successful companies are upgrading their planning processes and rolling out automation and advanced technologies.
Since tariffs went into effect, supply chain vulnerabilities have been exposed. We are in a global supply chain with wildly varying levels of risk and exposure depending on the country of origin, product composition and each specific company's strategy.
The world is VUCA-laden (volatility, uncertainty, complexity, ambiguity) and trending to greater volatility as risk heightens, supply chains unravel and short-term priorities remain intact.
In the second half of 2024, manufacturers in the U.S. and Mexico were in contraction according to PMI readings while Canada showed continual expansion. The Purchasing Managers’ Index (PMI) is based on a survey of private sector executives and measures the health of the economy. Canada has scored in [...]
There will be new policies, new supply chains and new manufacturing growth in the New Year. Although 2024 has ended on a sluggish note for most manufacturers with concerns swirling around missed revenue goals, inventory levels tying up cash and supply chain vulnerabilities and risks, there is excitement around changes coming down the pike.
There is a trifecta of supply chain vulnerabilities, disruptions, and risks creating volatility, uncertainty, complexity, and ambiguity (VUCA) in the business environment. From supply chain vulnerabilities like the ones exposed in the Middle East war to the heightened risks that emerged with Hurricane Helene [...]
The economy is facing headwinds with high inflation, interest rates, and concerning employment numbers. The world is on high-risk alert with the Russia Ukraine war, and the Israel Hamas war, which has expanded to Hezbollah.
The latest Francis Scott Key Bridge collapse has caused massive diversions on the East Coast and in the Baltimore region and points out the need for backup sources of supply and agility in the supply chain.
According to a study by Deloitte and The Manufacturing Institute, 2 million jobs could go unfilled in the sector by 2030. The cost in 2030 alone could potentially total $1 Trillion.
According to Polaris Market Research, the market size of artificial intelligence (AI) in manufacturing is predicted to grow more than 41% during the next decade. Although the latest Sikich Industry Pulse found that less than 20% manufacturers have started to implement AI [...]
