We’re almost halfway through the year—a perfect opportunity to check in with our industry! Manufacturing is a dynamic field that’s always having to adapt to the world around it. So what’s going on with manufacturing in 2023?
We asked our customers to fill out a survey that asked about labor, finance, outlook, and more. Here are the highlights.
The top response when it came to impact on margins was labor, with 46% citing it as the biggest factor. This can include all sorts of things: hiring, training, upskilling, and so on. And considering that 53.1% identified margins as their primary measure for success, it doesn’t need saying that labor is critical to manufacturing companies’ success.
Why is this important? Because labor is becoming a growing issue in manufacturing. In fact, it’s 59.4% of manufacturers’ primary concern in 2023 (both attracting and retaining talent). The concern comes from a couple of places:
51.6% report a shortage of skilled labor as the biggest challenge in meeting customer demands and 77.8% think young people’s lack of interest is contributing to the shortage of skilled labor. That’s a lot of issues to contend with!
With labor becoming more and more problematic while remaining a top factor to companies’ margins and success, manufacturers need to consider a few options to move forward and remain competitive.
So what is there to do? Well, 67% of manufacturers don’t have a plan to attract and recruit younger workers, so that would be a great starting point. Working with local trade schools, sponsoring student events, and coming up with training plans for inexperienced workers would be helpful options to consider.
Investing in automation is another option to cover gaps in your operations. Currently, 50% of manufacturers prioritize new technology investments based on immediate needs and ROI. Only 37.5% prioritize based on long-term strategic goals. Moreover, having more technology in your shop would attract younger workers who are more interested in the programming side of manufacturing.
However, 54% say cost and resources are the biggest barriers to technology implementation. So it’s important to look for a solution that truly maximizes your capacity and delivers a worthwhile ROI. It’s especially important that it can fulfill both your immediate needs and serve your long-term strategies.
An asset-agnostic solution that can work on all your machines and systems is a powerful solution to have. By enabling full-shop connectivity, you can eliminate the pesky silos that a hodgepodge of solutions probably created and are hindering your operations.
Additionally, maximum compatibility makes life easier in the long run. You won’t have to communicate with different teams, manage several SaaS subscriptions, have to reacquaint yourself with different maintenance processes every so often.
A detailed and clear path forward makes all the difference when it comes to technology adoption. When you have manufacturing and lean experts dedicated to your implementation process and detailed phases, you’ll be sure to see long-term success with your new solution. The less guesswork you have to do, the better the value.
Too many companies try to trick you into thinking they’re the easiest and most affordable option. But when the rubber meets the road, you’ll find extra implementation fees, equipment costs, and myriad other things that add up to a hefty tab.
Look for a solution that offers transparent pricing, a free trial, and implementation resources that will make your life easier and your budget more predictable.
Machine monitoring is amazing. But your shop is more than just machines. Be sure your solution also provides tools that empower your entire team, from operators to managers. This could be a tool that helps operators call for assistance or automated reporting that helps managers adjust strategies.
Of course, we’d like to suggest a solution that meets the criteria above and can help you maximize labor and asset efficiency, meet short- and long-term goals, and streamline overall operations to boost margins. Yep—it’s Amper.
We’re a no-PLC production management solution designed for adoption. Self-install takes 15 minutes per machine, you get a dedicated Customer Success Engineer, and we also guide you through the Amper Way: a structured approach to technology implementation that’s divided into five easy-to-implement phases. That means less heavy lifting on your end and long-term success. You don’t have to worry about signing a contract and then being left to figure it all out—we’re with you every step of the way. Want to learn more?
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