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.
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.
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.
Today we came across a great manufacturing infographic that touts the importance of manufacturing to America and the economy we feel many would love to see. It aligns well with the goals of Cerasis as a company and what we are aiming to achieve with our blog.
One of our core tenets at Cerasis is to make our customers’ lives better by allowing them to focus on their core competencies when we empower our customers, whom many of are manufacturers, with freight management services and powerful proprietary transportation management system software to better procure transportation and make better business decisions to continually drive down the resources needed to both receive and send freight. We look to extend this solutions based and relationship based partnership mindset in our blog by offering information on the state of manufacturing, distribution, freight, transportation and logistics. When we can provide information that continues to reinforce a mindset of customer service and help, we feel our customers, potential customers, our carrier partners, those in our industry, and Cerasis win. If we have readers that never become or even cannot be our customers, we are perfectly fine with that. In the end, our goal with our blog and all of what we do at Cerasis is to offer value and solve issues by offering tips and best practices related to transportation, freight, and logistics for our manufacturing, distribution, and freight shipping clients.
This great manufacturing infographic is a great resource to many who want to not only know about the state of manufacturing, but those also in the ancillary fields such as economics, distribution, supply chain, and transportation. As many in the industry know, there has been a lot of debate about the importance of employment in manufacturing. The below manufacturing infographic shows how important it is that we replace those retiring in manufacturing with new workers. However, there is a major challenge to do so, causing what is known as a “Skills Gap.” We have written extensively in the past on what is the skills gap, if there really is a skills gap in manufacturing, and how we might be able to solve the skills gap issue in manufacturing. Make sure you check out those articles as well, as it relates directly to the below manufacturing infographic.
As part of their “Measuring America” series, the U.S. Census released a manufacturing infographic, “Manufacturing in America”, that illustrates how manufacturing plays a major role in our economy. According the Census Bureau’s latest County Business Patterns, the manufacturing sector includes almost 300,000 establishments with 11 million employees producing goods consumed domestically or export abroad. View the complete infographic on the U.S. Census website. Make sure you look at the questions below the infographic so you can leave your thoughts and we can all have a meaningful conversation around this manufacturing infographic.
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