Manufacturing is Rising - Are You Prepared?
Media outlets from all over including CBS News, Kansas City Star, and Washington Bureau (to name a few) are reporting increases in manufacturing activity. The national index reported an increase from July ’13 to August ’13, with the The Institute for Supply Management showing a third consecutive month of growth.
Granted, a three-month winning streak may not seem all that compelling, but one must consider that this is the highest that the index has been in 2013. It’s the most significant jump it has taken in almost two years. Emerging is a manufacturing industry vastly different than that of the last century-it’s highly efficient, producing sophisticated products through technology-intensive processes.
The ISM’s new order index report is another indicator that this may be a positive trend for the manufacturing industry. The new order report gained almost 5 points in August, signaling that manufacturing may see increased activity throughout the remainder of the year.
It seems that the economy may be recovering at a modest pace and manufacturers are finally starting to see that translate into increased orders and activity. The last 30 years in the U.S. saw a greater than 40 percent decline in manufacturing employment. 8 million jobs were lost to a changing manufacturing industry, while output still more than doubled. Now the country is in the midst of a pivot back towards domestic production.
As the trend continues, will manufacturers begin to have the conversation regarding their current ERP software, processes, and hiring more skilled labor? It’s a conversation that may not start tomorrow, but one that will definitely have to be addressed. New technologies such as Ming.le will help manufacturers attract the next generation of talent, through software that’s modern and familiar – yet highly productive and collaborative.
While this resurgence is in its very early stages, both new job creation and reshoring have slowly risen over the last few years. Since 2010, an estimated 500,000 jobs have been added in U.S. manufacturing, and research suggests that many large producers are planning to bring production back to the U.S.
[This post originally appeared on the and is republished with permission.]
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