Collaborative engineering tools are transformational for many organizations. In addition to reducing time to market, they reduce cost, eliminate errors, and create an environment of information sharing that is resulting in better products. The future will not only see greater improvements in cycle times but will also see a greater expansion of data analytics tools and larger teams to include suppliers and others in the organization, having an overall impact on the bottom line.
In spite of the tumult of a reawakening global economy whose U.S. benefits were constrained by escalating political uncertainty, two destructive hurricanes, and an alarming confrontation with North Korea, U.S. manufacturing managed a rather bland but steady growth performance during 2017. The Federal Reserve reported that after two difficult years of essentially zero output gains, growth in the factory sector logged 1.3% during 2017.
At a time where there is too often a commonly held belief that U.S. manufacturing is in decline and is a poor career choice, the Daniel Meckstroth Award for Excellence in Manufacturing Research aims to showcase the value and improve the competitiveness of American manufacturing through original economic research. MAPI is proud to co-present the winners, Kevin L. Kliesen and John A. Tatom, with the inaugural award for their original research titled,"Is American Manufacturing in Decline?”.
Recent turbulence in the stock market is a wake-up call to manufacturers, and to all businesses. The measurable rise in the yield on the 10-year Treasury note, now at the highest level in four years, has arguably been the primary catalyst for the equity market rout. This rise spurred to some extent by credible hints that long-dormant inflation might be on the cusp of increasing, has been a signal that financial conditions will eventually, and perhaps quickly, tighten to more normal levels.
The global economic rebound, tax reform law, and the resumption of a dollar depreciation that began in early 2017 influences the MAPI Foundation’s outlook for the best U.S. manufacturing growth performance in more than a decade.
Corporate Affairs, Corporate Communications, Global Economy, Competitiveness, Leadership, Human Resources
The intersection of the opioid crisis and manufacturing is poised to be a drag on U.S. competitiveness. Each addict and overdose death is one less non-disabled adult in the labor market, but the undermining power of the drug crisis also hits manufacturing’s existing workforce too. Nearly one in 20 employees will misuse opioid prescriptions in some way this year, and this makes them susceptible to addiction.
Growth & Innovation, Research & Development, Strategic Planning
Ask innovation and product development executives at U.S. manufacturers and they will agree — advanced analytics will change the face of innovation. Two-thirds of executives surveyed expect that analytics will improve their innovation performance in the near future. The trouble is that few companies are resourcing analytics well enough to use it to leapfrog their competition or maintain their market position in the future. Why?
After years of post-financial crisis struggle, the U.S. manufacturing sector finally has a range of recovery tailwinds that are catalyzing its increasingly sunny outlook. The world is now experiencing a strengthening economic rebound, with every major region enjoying stable performance.
The 2016 Panama Canal expansion added a third set of locks while doubling its shipping capacity. With the physical enlargement came a new transit booking system and a slot auction. Both addressed bottlenecks by shortening wait times at peak seasons. In its first fiscal year of operation, the number of ships rose 3.3% while total tonnage increased 22%. This singlehandedly stemmed from the new maximum size of Panama vessels that can transit. As expected, the expansion resulted in some diversion of traffic, higher demand for passage, and new investment in ports – primarily on the East Coast – to accommodate larger ships. The greatest potential impact for manufacturing companies will be on trucking capacity.
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