66e9802f9692b08e20be7053 Dreamstime M 139993271 As we celebrate Manufacturing Day on Oct. 4, it’s a fitting moment for manufacturers to reflect on their existing operational strategies and to set the stage for future success. The past few years have tested manufacturing with numerous challenges, including a global pandemic and resulting supply chain disruptions, economic volatility, and geopolitical tensions. This year’s celebration offers an opportunity to turn those challenges into catalysts for innovation and growth. Manufacturing leaders have a lot to be optimistic about, with over 68% of executives feeling positive about their company’s outlook. Although industry growth is expected to remain stagnant or contract slightly through 2024, experts predict output will recover next year and remain steady through 2028. See also: How universities help manufacturers with technology testing, adoption To capitalize on this positive outlook and drive sustained success, manufacturers can benefit from a focus on three key areas: leveraging emerging technologies, embracing nearshoring, and investing in their workforce. Leverage emerging technologies Manufacturing Day serves as a reminder of how far industry has come in adopting new technologies. To stay ahead, manufacturers must continue to integrate automation and the latest digital solutions into their operations. Implementing robotics on the factory […]
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