By now, you’ve heard about President Biden’s recent executive order calling for a 100-day review of U.S. supply chains. By assessing the risks across all areas, manufacturers can address them strategically and build long-term resiliency into production processes.
We always knew digital transformation in inventory management solutions would continue to grow in the manufacturing space, but the unpredicted challenges amid COVID-19 catalyzed that need. In 2021, manufacturers are tasked with ramping production back to the place it was in 2019—a level that took decades for some to establish. These companies are turning to technology to quickly re-establish and sustain best practices critical in today’s complex supply chain. Cloud-based software, AI-driven technology, and smart, standardized work have gone from a nice-to-have to a company-wide mandate.
As manufacturers ramp back up and make their operations “disruption-proof,” here’s how I predict manufacturing will transform in 2021.
2020 has brought a whirlwind of change, uncertainty, and ongoing disruption to normal business operations. But at the same time, the world has seen first-hand the importance that manufacturing and supply chain plays in the day-to-day life of every individual. While this year has been challenging, one thing remained constant: We continue to be honored and proud to work with such incredible partners in the manufacturing space.
The medical device manufacturing industry is undergoing a significant transformation. Driven by global economic growth, innovation, and an aging population, the U.S. medical device market was poised to reach $800B by 2030 before COVID-19 hit. During the pandemic, some medical device companies selling essential supplies and equipment faced demand surges. Others were impacted by a loss of revenue due to procedure postponement. Still, many expect the industry as a whole to recover by 2023.
As supply chains grow increasingly global and complex, having the right parts at the right time has become imperative to keep supply chains running smoothly. Yet, even as digital transformation initiatives rapidly expand across the factory and supply chain, operational procurement teams continue to be left behind.
Over the past few weeks, the pressure and challenges on manufacturers across the world have grown exponentially. Our hearts are hurting for all affected by COVID-19, including our global customers spread out across the world who are navigating the uncertainty in today’s supply chains.
National Manufacturing Day: A day dedicated to celebrating modern manufacturing and inspiring future supply chain talent. In honor of today, I’d like to take a moment to celebrate some of the achievements I’ve seen in the industry and with our clients.
Collaborative Analytics for Morgan Advanced Materials
Supply chain management is becoming increasingly complex. Today’s manufacturing is more global and requires synchronization of material deliveries from suppliers throughout the world. There is increasing pressure to analyze complex data to prioritize and manage daily tasks, pressures from clients to quickly meet their changing demands, and pressures to deliver on time regardless of the product complexity and routine demand changes. In a time like this, agility and collaborative analytics are vital for successful supply chain procurement. Suppliers must utilize timely information shared across all people in the operation. The result of doing so? Clearly aligned critical decision making that keeps up with client expectations.
Hello from Chicago! I’m here attending the APICS 2018 supply chain conference, and I’m spending time around some brilliant minds in manufacturing and supply chain. I’d like to share a little of what I’ve encountered here through great speaker sessions and conversations with industry leaders.
I just finished my first day at the Supply Chain Insights Global Summit in Philadelphia and spent the day in the analytics track with manufacturing and technology leaders from across the country. The message from day one was clear: there’s a lot of talk about the technology behind analytics, and not enough focus on the human side that will ultimately yield results.