Manufacturing’s Big Rethink: A Shift in Approaches, Attitudes, Investments
Amid supply chain woes and inflation, five priorities for companies.
Manufacturing companies are going through a fundamental rethink of their supply chain structures and long-term talent development plans as they look toward a post-COVID future. There is also a structural shift in priorities, attitudes and investments related to environmental consciousness.
While ongoing inflation pains will hopefully stabilize as supply-chain capacity issues ease and the federal interest rate hikes work their way through the system, these structural shifts in the manufacturing sector, accelerated by the pandemic, may contribute to inflation in the mid- to longer term.
Technological advancements and demographic shifts may serve as deflationary forces eventually, but in the meantime, companies have to prepare themselves for the inflationary impact of these shifts that are currently in motion, including;
- Reshoring
- Environmental Consciousness
- Talent Shortage
- Increased Regulation
- Technology as a Solution
- Taking Action
