New Orders and Production Growing; Employment Contracting; Supplier Deliveries Slowing at Faster Rate; Backlog Growing; Raw Materials Inventories Contracting; Customers' Inventories Too Low; Prices Increasing; Exports and Imports Growing
Forward, Toward a New Normal - A transitional playbook for resuming manufacturing operations in the [hopefully soon to be post] Covid-19 Era
As companies and their workforces emerge from their forced coronavirus hiatus, a clear picture of a "new normal" for the manufacturing business and its employees remains elusive, with only hazy possibilities and vague pathways forward.
2020 State of Manufacturing Report Finds Severe Levels of COVID-19 Disruption, Clear Industry Commitment to Digital Transformation
Hundreds of senior decision makers in healthcare, robotics, and other industries report damaging COVID-19 impact, focus on digital transformation, and emphasis on building supply chain resilience through agility
• Exceptional ROI expected for companies who have embraced digital technologies amid COVID-19 • New normal will include hybrid models of digital technology with physical activity • COVID-19 has resulted in unprecedented levels of global collaboration
Supported by an integrated ecosystem, the technologies are composed of augmented reality, rapid application development, autonomous robots, digital simulation, and additive manufacturing.
Put simply, vertical integration is a strategic structure which means that a company owns the supply chain for its products or services. Fundamentally, this is considered to be important as it implies a certain and robust degree of control over operations.
While the global covid19 pandemic seems to be fading into the annals of history, the next crisis loomed large before the last one could begin to fade away into obscurity. What do these two most recent crises in the US demonstrate to the manufacturing world?
Smith College Team From Massachusetts Wins CoVent-19 Challenge to Design New Ventilator for Developing World
-"We came into this not knowing anything about ventilators," SmithVent team lead says -Top 3 teams from over 200 submissions win on-demand 3D printing services from Stratasys
The factory in a box could be located in front of a hospital, next to a shopping center, or near a school. The integrated air-conditioning system with air purification filters makes production possible even in places with high risk of viral contamination.
Companies will need to quickly find ways to sustain their business, mitigate all supply chain risks, and be more flexible to the new environment. These requirements will drive a need for greater visibility and control over operations.
When the manufacturing industry emerges out of the COVID-19 pandemic, we will see the rapid trend of digitalization. However, to achieve maximum success - this will only happen if manufacturers finally deal with the challenge of data silos!
Now, with concerns over China's handling of the virus, rising labor costs across the developing world and apprehension about geographically concentrated supply chains, companies are placing bets on the next hotspot for affordable manufacturing services.
The 3D printing industry has proven instrumental in the production of essential medical equipment ranging from face masks to ventilators.A key reason why additive manufacturing has been so effective during the pandemic: it doesn't rely on a global supply chain.
Before COVID-19 there were visual experiences inspiring interest, driving demand, and creating a path to purchase in today's digital economies. Manufacturers have modified Visual Commerce customer outreach efforts to compensate for a non-deployable salesperson during COVID-19.
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