Special Report Published on Crafting Tomorrow’s Supply Chain Today
Download Lisa's mid-year special report, FutureScape: Crafting Tomorrow's Supply Chain Today.
Medtech’s Supply Chain: Global Risks Driving Regional Manufacturing
COVID-19 may no longer be a significant public health threat, but the global supply chain remains chock full of risk. The threats are seemingly everywhere these days: The Israel-Hamas war, which is sabotaging trade routes in the Red Sea; extreme drought, which is curtailing shipping in the Panama Canal, and China’s military aggression, which is threatening lawful commerce in the South China Sea.
The Minimum Wage Hike, Cocoa Shortages, Egg Inflation & Impacts
California's minimum wage went up to $20/hr. for fast food restaurants with at least 60 locations nationwide that do not make bread. This law is causing widespread unintended consequences. For example, Fosters Freeze in Lemoore closed suddenly after the wage hike. Mod 5 Pizza is closing five locations.
Supply Chain Shortages Remain a Concern: Strategies for Success
Manufacturers wish they left supply chain shortages behind after the pandemic, but they remain top of mind. Concerns remain. According to KPMG, “71% of global companies highlight raw material costs as their number one supply chain threat for 2023.”
Skills Gap Challenge for Manufacturing Success
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.
Why Manufacturing Matters & Will Thrive in the Next Decade
Manufacturing promotes safety and security and mitigates risk. Controlling your supply chain and mitigating geopolitical risk can become paramount overnight as geopolitical events occur, natural disasters emerge, and supply chain challenges arise (strikes, disruptions, shortages).
Where Is Your Supply Chain Talent?
No client has enough high-skilled talent. In fact, it is the single largest issue facing executives. The skills gap is severe for high-skilled roles. Yet any company that wants to succeed is automating, digitizing, and utilizing advanced technologies such as robotics, additive manufacturing, and predictive analytics.
Supply Chains are on the Move
Global supply chains are on the move. Executives have been hit with the harsh reality that the risk (supply chain, geopolitical, cyber, IP, etc.) is far higher than they realized when they outsourced with an eye to cost.
Give Thanks
Although we should always think about giving thanks, it certainly comes to mind more over Thanksgiving week. I would like to thank the LMA team, clients, family, and friends for not only a wonderful year, but also for propping me up when I need it, asking the hard questions, providing support, and much more. It takes a village!
The War for Talent in the Supply Chain & Upcoming Webinar of Top Notch Global Consultants
Many circumstances have added up to create a massive war for talent. As I wrote in Brushware magazine, the skills gap is getting worse by the day. According to the Bureau of Labor Statistics, 4.3 million Americans quit their jobs in August which is a record-breaking month following additional record-breaking months.