Tuesday, February 13, 2024

The Future of Manufacturing Isn’t What You Think

 The Future of Manufacturing Isn’t What You Think

By Eddy Azad, Parsec

The events of the past several years have uncovered vulnerabilities affecting manufacturing operations and their inconsistent supply chains. Manufacturing was severely impacted by inherent production inefficiencies, shortage of labor and unreliable availability of raw goods needed to produce enough product to meet demand. The fallout of these events is still being felt today; product recalls are at a 10-year high, and supply chain issues still abound.

In our digitally connected world, on-demand ordering has become the expected norm. When it comes to manufacturing, this is a non-trivial expectation. While undoubtedly presenting opportunities for profit and record-setting growth potential, this expectation has also acted as a stress test for many operations. As we have seen, a breakdown of already stretched supply chains—be it upstream with suppliers, at the factory level or downstream with distribution partners—can result in global marketplaces underperforming. Supply falls, demand is unfulfilled, and we are left grappling with macro challenges like inflation, critical material shortages and more.

Read more here.

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