May 2024 Manufacturing Business Outlook Survey

Manufacturing activity in the region weakened overall, according to the firms responding to the May Manufacturing Business Outlook Survey. The survey’s indicators for current general activity, new orders, and shipments all declined, with the latter two turning negative. The employment index suggests declines in employment overall. Both price indexes indicate overall increases in prices but remain below their long-run averages. The firms continue to expect growth over the next six months.

Characteristics Of A Resilient Manufacturing Operation

Resilience in manufacturing operations is the idea of building an organization and an operation that can face challenges head-on, defeat those challenges and come out even stronger and prepared for the next challenges..

Ensuring resilience in Canada’s supply chain, trade, and manufacturing sectors
Attracting and retaining Gen Z and Gen Y talent: A vital imperative for Canada’s mfg. industry

The manufacturing industry in Canada stands at a pivotal crossroads, facing a pressing need to attract and retain talent from Generation Z and Millennials (Gen Y). As the sector grapples with an aging workforce and imminent retirements, coupled with the transformative impact of technological advancements such as robotics and AI, engaging younger generations has become more critical than ever for its survival and growth.

Navigating The Future Of Third-Party Maintenance: Opportunities And Challenges

In today’s digital-first world, IT is not just an operational necessity but a strategic asset for businesses across industries. The IT industry has shown remarkable growth, solidifying its role as the backbone of modern enterprises. This growth story is not just about innovation but also about sustaining and supporting the vast infrastructure that powers today’s businesses.

2024 Canadian Economic Outlook: Impact on Manufacturing
2024 Tech Trends in Manufacturing: Insights to Attract and Retain Software Buyers

Manufacturing companies are transitioning from machine-based assembly lines to “smart factories.” Technology adoption is reshaping the industry. Robotics and automation enhance productivity and alleviate labor shortages, data analytics improve forecasting and mitigate supply chain disruptions, and the Internet of Things (IoT) boosts connectivity and helps with monitoring and maintenance.

How Manufacturing Businesses Stay Competitive

With the right platforms, organizations can count on a significant reduction in training costs, a reduction in inventory investment, faster planning cycles, a boost in top-line revenue, improved on-time deliveries and more accurate demand forecasts. With the correct planning and investing strategically, technology can strengthen a business’ footing in an uncertain economic climate. Leaders can future-proof a connected, digital manufacturing world—the sooner, the better.

The Top 5 Manufacturing Trends In 2023

Global manufacturing and industry are still reeling from the disruption of recent years, with supply chain and workforce disruption still key issues. At the same time, the world is heading into a period of unprecedented economic uncertainty. On the face of it, this seems to suggest slowing growth and declining profits are on the cards.

6 Developments That Changed Manufacturing In 2022

Labor costs contributed to inflation in 2022, but they also led to a complete rethinking of how manufacturers address talent shortages—one that continues today. The impetus, of course, was the way the pandemic reshaped the relationship between employers and employees, leading many folks to leave traditional full-time work altogether.

Smart Manufacturing: Smart Tools For The Connected Worker

Smart manufacturing alone doesn’t drive higher operational efficiencies and productivity—connected workers do. Smart tools and smart technology empower shop-floor workers to do new and better things that were never thought possible. These connected workers can not only communicate and collaborate with other people across the global enterprise, but they can access real-time information to make informed, data-driven decisions.

What Is Just In Time Inventory (JIT)

Inventory is a valuable asset in many industries. If your business depends on inventory to build your brand and generate revenue, just-in-time (JIT) inventory should be on your radar. It’s a buzzword in the supply chain world as well as a tried-and-true technique that can help you improve efficiency and increase your bottom line.

The Supply Chain Of The Future: What You Need To Know About Additive Manufacturing

The manufacturing industry has established practices for product development, production and supply chain management. Organizations that develop new products carefully follow these well-known processes and rarely take risks. However, new opportunities that arise from additive manufacturing may challenge the way things are done today.

Manufacturing Operations Management Solution Market Size 2022

Manufacturing Operations Management Solution Market report covers the manufacturers’ data, including business distribution, cost and price, margin, and gross revenue. This allows a reader to understand consumers’ behavior and a better understanding of the leading competitor’s operation in the market.

Manufacturing inventory hits record $1.8tn worldwide

Manufacturers from Samsung to Ford are seeing a sharp increase in inventory as consumer demand weakens amid surging inflation, prompting worries that companies will have to adjust production in the face of a looming protracted economic downturn.