Research
The State of Manufacturing: From Resilience to Resurgence
The latest trends in mid-market supply chain resilience, M&A, and AI
June 02, 2024
Manufacturers in recent years have focused on creating resilient supply chain models, addressing operational inefficiencies, and innovating talent acquisition strategies in response to rising material costs and geopolitical tensions. As the industry anticipates increased M&A activity, companies are rethinking approaches to position themselves for future success and navigate complex changes effectively.
Quick Take
Optimizing adaptable supply chains
Supply chain disruption forced manufacturers to diversify suppliers, build inventories, and improve inventory management—but labor shortages loom.M&A uptick on the horizon
Manufacturing M&A deals slowed due to economic uncertainty but are expected to rebound as companies seek technology and product improvement. Case in point? 90% of surveyed manufacturing executives anticipate increased M&A activity in the coming year.The future of manufacturing has arrived
AI and machine learning are seen as the most impactful technologies for manufacturing (32%), with sustainability (19%) also considered crucial as companies look for efficiency and meet stakeholder demands.An aging workforce and succession plan
Manufacturing faces a labor shortage due to an aging workforce, requiring investment in automation, upskilling, and recruitment. Respondents noted automation investments (54%) and alternative workforce options (49%) as their top steps to address those labor shortages.
The State of Manufacturing: From Resilience to Resurgence
The manufacturing trends shaping 2024 and how you can navigate the complexities of supply chain resilience, M&A, and the future of manufacturing and AI.