Manufacturing

Ongoing disruptions in the Red Sea and Panama Canal have reinforced the need for manufacturers to have a comprehensive supply chain strategy.

Data-driven report measures supply chain disruptions and delivery assurance in the aerospace sector

Generix Group overview of Solochain, a web-based Warehouse Managment System and Manufacturing Execution System.

The report’s benchmark metric, the PMI, came in at 47.4 (a reading of 50 or higher indicates growth), up 0.7% over November’s 46.7, contracting, at a slower rate, for the 14th consecutive month.

The report’s benchmark metric, the PMI, came in at 47.4 (a reading of 50 or higher indicates growth), up 0.7% over November’s 46.7, contracting, at a slower rate, for the 14th consecutive month.

More companies are moving to reduce their sourcing exposure to China, finds AlixPartners survey.

For manufacturing, ISM is estimating a 5.6% revenue gain in 2024; while ISM member panelists are calling for 2024 services-based economy revenues to increase 6.9% in 2024.

Even though the manufacturing and service sectors have been on diverging paths in 2023, with manufacturing having contracted for 13 consecutive months and services having grown for 11 consecutive months, respectively, through November,one common theme they share is expectations for growth in 2022. That is a key takeaway from the Institute for Supply Management’s (ISM) December 2023 Semiannual Economic Forecast.

Listen in as GE Appliance’s Alison Seward discusses how the appliance maker is using 3D technologies to transform its operations, improve quality and upskill its workforce.

While the Institute for Supply Management’s monthly PMI remains in negative territory for November, several sectors are beginning to show signs of recovery.

The November PMI came in 0.5% below the 12-month average of 47.2, with September 2023 marking the high for that period, at 49.0, and June 2023, at 46.0, marking the lowest.

The report’s benchmark metric, the PMI, matched October’s reading, at 46.7 (a reading of 50 or higher indicates growth), contracting, at the same rate, for the 13th consecutive month. The past 13 months of contraction were preceded by a stretch of 28 consecutive months of growth. ISM also said that the overall economy contracted in November, at the same rate, for the second consecutive month, which was preceded by 30 consecutive months of growth.

Years of geopolitical uncertainty and high US tariffs are driving manufacturing out of China and into new destinations.

Accenture survey finds 85% of companies plan to manufacture and sell most of their products in the same region in 2026.

How big is the nearshoring trend? An Accenture report says the number of global companies nearshoring product manufacturing will double in the next 3 years.