Manufacturing Infographic: Report Calls for Greater Flexibility to Improve Revenues, Production, and Labor Efficiency
Who doesn't love a good infograhic? Even better, who doesn't love an in depth manufacturing infographic put out by one of the world's biggest consulting firms regarding "How Leading Manufacturers Thrive in a World of Ongoing Volatility and Uncertainty?" Well, Accenture has met the challenge and WELL exceeded the task of giving us what we all want, an insight into how to improve operations for manufacturers, so not only can we continue to reshore and increase the GDP, but also not lose jobs, and of course grow our manufacturing base to increase jobs all together. Remember the economic multiplier effect of manufacturing (it's quite important to the overall success of our economy and country!). Manufacturing has a larger multiplier effect than any other major economic activity; $1 spent in manufacturing generates $1.35 in additional economic activity.
Accenture Manufacturing Infographic Calls Explains State of Manufacturing In Survey With 250 Top Manufacturers
Each year Accenture takes a look at the state of manufacturing and this year is no different.....except they took it a big step forward in the way you consume that information. Accenture has not only create a comprehensive easy to understand infographic, but also created a quite immersive interactive website to explain the findings in the report. On their website, the main conclusions they tout are around operational flexbility, stating:
Accenture's global manufacturing research study reveals that companies must have greater operational flexibility to substantially increase revenues and margins, boost production levels and improve labor efficiency.
In particular, with this study Accenture wanted to understand how manufacturers are performing and what initiatives they are embarking on to align their operations with market challenges and opportunities. We had 250 senior manufacturing executives from around the world participate this year, and they represented companies with annual revenues that range from $500 million to more than $50 billion.
How are Manufacturers Performing These Days, Still a Pretty Tough Market?
You’re right, it’s definitely a challenging time to be a manufacturer. But Accenture actually found that those participating in our study are doing pretty well. Production levels, revenues, and profitability have all increased during the time for the vast majority of them. And most manufacturing executives are optimistic about continued growth in the future. In fact, executives believe their most important markets will offer plenty of growth opportunities.
However, there are still things that could stand in the way of growth. Most of these would be classified under the broader category of volatility—such as global currency instability, unpredictable commodities costs, uncertainty about customer demand and where that demand is going to come from, political and social unrest, and then obviously government regulations that might be imposed upon them. So although manufacturers are growing and confident about their prospects in the future, there are always risks that they need to watch out for.