The US manufacturing sector faces numerous possible pitfalls and some risk of severe declines, according to a new report by Creditsafe USA.
The in-depth analysis of the US manufacturing industry says that, despite recent overall consistent performance, there are “several areas of concern” across the entire sector. In particular, the rate of bankruptcy signaling the possibility of an industry slowdown.
China’s fast economic growth, its gradual but consistent transition from a planned economy toward a market economy, the emergence of highly intensive competition in the open sectors, the increasing prevalence of technology and the availability of angel investing and venture capital funds all contributed to the emergence of waves of entrepreneurship and innovation in China that the country had not seen before.
In their search for growth strategies, these Chinese entrepreneurs were typically fast and agile. Some of them developed diversified conglomerates, and there were others that decided on a narrow focus, taking the core competence approach.
Obsolete industrial parts supplier, EU Automation has published an industry guide for manufacturers interested in making their production method more sustainable by contributing to the circular economy.
The guide can be downloaded, free of charge, from EU Automation’s website, under the Industry Guides section.
The circular economy focuses on keeping resources at their highest utility and value at all times. As well as minimising waste and energy losses, it also improves the environmental impact of manufacturing and reduces the risk of obsolescence. Continue reading Is industry ready for the circular economy?
One of the major concerns among blue collar workers is the fear that robotic automation will take jobs that are sorely needed by the average working Joe who simply wants to provide for his or her family.
While it is understandable to think this way since automation can do the work in less time and with more efficiency, it may not necessarily be true that automation is going to replace human jobs.
Investing an additional £1.2bn into manufacturing processes, to increase robotics and automation over the next decade, could add as much as £60.5bn to the UK economy over the next decade, forecasts new research from Barclays. This is equivalent to nearly two fifths of the manufacturing sector’s value to the economy today.
The “Future-proofing UK manufacturing” report reveals that investing in automation technology will help to increase the international competitiveness of the UK’s manufacturing sector through increased manufacturing productivity and efficiency. As a result of additional investment, the manufacturing sector will be worth £191bn in 2025, £8.6bn more than currently projected and a 19.6% increase on today.