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Top 3 Challenges in the Manufacturing Industry

What do your peers think about Manufacturing Industry?

Even if the manufacturing industry is extremely wide and the variety of manufactured products can touch many other industries, there are some challenges in common. Manufacturing professionals attest that cost pressure can be a big issue to resolve, along with labor shortage and a raising number of precautions to take in order to avoid security risks.

Manufacturing Top 3 peer Challenges

number-1Costs

The constantly increase of material prices in recent years has turned the analysis and prediction into a very complicated assignment.

number-2Labor shortage

With insufficient qualified employees to fill the market-place demands, it becomes difficult to assure an internal efficiency. In some particular countries, the lack of engineers and technicians can be the major problem.

number-3Security Risks

Manufacturing process requires a high level of precautions that can be difficult to handle, mostly in an industry that is strictly regulated by governments.

Other Challenges ­

  • Innovation
  • Reducing production times

Research-­based trends and short-term forecast

According to the Global Manufacturing Outlook published by KPMG, looking for efficiency in innovation, research and development will be one of the main concerns for the next years. To succeed, a manufacturing company will have to look forward the product innovation, and start thinking in a whole business model renovation (KPMG).

In economic terms, the challenge will be even more difficult. Global manufacturing growth continued to decelerate in the first months of 2016 and the manufacturing industry will have to affront a difficult period of uncertainty. The last NAM manufacturers’ Outlook Survey has shown that this decline has had negative impacts in on company’s export sales (NAM).

If you want to learn more about the new trends in the manufacturing industry and get additional market data, make sure you visit www.reportlinker.com to start your research.