Report: Improving manufacturing and supply chain visibility are top priorities for industry leaders
Fictiv has released its ninth-annual State of Manufacturing Report. Created with assistance from Dimensional Research, the report highlights responses from 178 industry decision makers who work in engineering, supply chain, research and development, and digital innovation roles. These leaders come from a range of industries, including consumer electronics, medical devices, automotive, industrial and robotics, aerospace, or energy.
The report, which tracks perspectives on the economy, supply chain, AI, sustainability, and more, shows that the manufacturing industry is at an inflection point. According to Fictiv, the industry is poised between innovation, growth, and the drive to reduce costs and increase profitability. This year’s report shows that improving manufacturing and supply chain visibility are most important to manufacturing decision makers, with manufacturers reporting that economic headwinds and labor costs and shortages are the top factors impacting 2024 strategies.
Below are a few key takeaways from the report.
- 87% of surveyed leaders say that artificial intelligence is "...vital to my company's future success."
- 45% of respondents plan to increase the speed of innovation, with barriers to innovation decreasing
- 66% of surveyed manufacturers say reshoring is a priority for their supply chain strategy
What people are saying
In a recent quote, Dave Evans, Co-Founder and CEO of Fictiv said, "The last four years have redefined what a world-class operations or supply chain team needs to operate successfully in a tough economic environment. It's become the expectation for supply chain teams to decrease costs and get products to market faster, all while doing more with less due to lower expenses as companies push to profitability as their number one metric. With all the headwinds faced in navigating risks over the last four years, supply chain leaders have one of the world's toughest jobs. Now, these leaders are battle-hardened and looking for efficiencies everywhere, turning to technology and regionalization strategies."
Recent reports on the manufacturing industry
Report: Optimism amongst manufacturers is on the rise
According to the data, on a scale of one to 10, manufacturing executives rated their optimism an average of 7.07.
Report: 83% of manufacturers plan to use generative AI in their operations this year
95% of manufacturers are using or evaluating smart manufacturing technology.
Report: American manufacturing may need 3.8 million new workers by 2033
Up to 5 in 10, or 1.9 million, skilled jobs could go unfilled.
About the Author
Alexis GajewskiAlexis Gajewski
Senior Content Strategist
Alexis Gajewski is a manufacturing writer and editor with nearly 20 years of experience covering the people, practices, and technologies that keep industrial facilities running. For more than a decade, she served as Senior Content Strategist for Plant Services, creating content for plant managers, engineers, and maintenance professionals on a variety of industrial topics.
During her tenure, Alexis worked to develop the brand’s digital strategy and helped launch and produce Great Question: A Manufacturing Podcast. She also created The Lighter Side of Manufacturing, a weekly blog that explored the inventive and sometimes humorous side of the industry.
Alexis co-founded Influential Women in Manufacturing, a recognition program that honored 49 women in its first two years, earned an industry award for Best Product Launch, and received a proclamation from Illinois Governor JB Pritzker and a commendation from U.S. Senator Tammy Duckworth.
She also led newsroom operations and development at a large media company where she set editorial standards, developed training curriculum, and helped support AI adoption for more than 150 editors across 80+ brands spanning manufacturing, industrial processing, automation, and more.
Additionally, Alexis works as a freelance writer and editor, and her areas of interest include continuous improvement, the skilled workforce, and the role of emerging technology on the plant floor.
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