Another article roundup from ACE Controls! Here are five articles from this month that have helped us better understand the present moment as well as the future of the manufacturing industry!
Restructuring the Supply Base: Prioritizing a Resilient, Yet Efficient Supply Chain (Deloitte)
If there’s one word to describe the strategies of manufacturers after the pandemic, “resilience” might be the top word. It’s not hard to understand why. Over the last four years, “COVID-19 pandemic, geopolitical challenges, and natural disasters” (Deloitte) have hit manufacturers, exposing the weak points of the supply line along the way. This has led to a variety of responses to these risks which all focus on one thing: how to safeguard every step of the manufacturing process and increase its durability against unexpected obstacles.
Why the Reshoring Renaissance Is the Future of U.S. Manufacturing (Manufacturing Today)
In search of that resilience, reshoring has emerged as one of the leading solutions to better manage supply chains. With all of the breakdowns and inefficiencies identified during the COVID pandemic, sprawling international supply chains proved to not be as resilient as previously thought. This has led to a complete strategic reworking of manufacturing’s future. By relocating major points in the supply chain back into the US, manufacturers can simplify the process of delivering advanced products to their markets with less concern for potential hazards or breakdowns.
US Finalizes 45X Advanced Manufacturing Tax Credit for Batteries, Solar (Energy Storage News)
As this article by Energy Storage News points out, semiconductor manufacturing isn’t the only industry seeing enormous financial incentives to develop in the US. Manufacturing tax credits for batteries and solar energy products have been released by the IRS, which will make future construction in the US dramatically cheaper. Though these new clean energy manufacturing locations in the US might require even more workers and skilled employees, the benefits to the industry and consumers will be substantial.
Manufacturing Could Be Short 1.9m Workers if the Talent Gap Isn’t Fixed (Manufacturing Dive)
With all of the new and projected construction in the US, manufacturing is quickly outpacing the available supply of workers. In this article, an estimated 3.8 million new jobs are expected in the industry by 2033 but only about half of those openings are expected to be filled.This gap is going to call for significant development in workforce solutions, job training, and education. Ten years might seem like a long time to begin planning for, but competitive job markets are going to require solutions that take time to build. Whether that means partnering with local communities, workshopping an internal skills development program, or marketing campaigns that recruit skilled talent, your company’s solutions will take time, trials, and errors before they come to fruition.
Unwrapping Hershey’s $250M Manufacturing Upgrade (Manufacturing Dive)
After spending a billion dollars on their manufacturing process and acquisitions, Hershey’s has announced another 250 million dollar upgrade. But what does that actually mean for their process? This article by Manufacturing Dive walks through the different initiatives and developments that Hershey’s has invested in and explains what benefits they might offer Hershey’s as well as how they hope to reshape their manufacturing capacity.