Updates

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.

Ensuring resilience in Canada’s supply chain, trade, and manufacturing sectors

It’s hardly news that the events of the last four years have severely tested global supply chains. While most of the disruptions caused by measures to contain the COVID-19 pandemic are behind us, the effects of geopolitical conflict, piracy on critical global shipping routes, and a rapidly changing climate that’s pushing up sea levels continue to sow uncertainty about moving goods between continents. Layer on age-old supply chain foes like inflationary pressure and economic downturn, and we have yet more challenges.

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.

2024 Canadian Economic Outlook: Impact on Manufacturing

Wait and see.

That may be the catch phrase for at least the first part of 2024 when it comes to the economy in Canada, and particularly so for the manufacturing sector.

The reasons are multi-fold and related. During the years of the COVID-19 pandemic, the economy was quite strong. Consumers and businesses were buying, buoyed by government stimulus money. As a result, we’re seeing a large amount of equipment on the market that still needs to be absorbed. New equipment sales are suffering.

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.

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.