As the risk of a global economic downturn grows, the industrial manufacturing industry faces a challenging landscape in 2020 replete with trade tensions, muted job growth, supply chain volatility and an ongoing skilled talent shortage. Yet, despite these headwinds, industry leaders are rapidly developing coping strategies—not only to weather the brewing storm, but to thrive in spite of it.
Paul Wellener, Deloitte’s US Industrial Products and Construction practice leader, shares insight into these and other topics in his 2020 Manufacturing Industry Outlook. Key highlights include:
Doing good is good business: More than 25% of manufacturers have expressed a genuine commitment to improving the world, including evaluating how renewable energy sources can help deliver on sustainability goals. And doing good can improve the bottom line: 40% of those who expressed that commitment say CSR initiatives have helped them generate new revenue streams.
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Tune in for a timely conversation with Susan Spence, MBA, the new Chair of the ISM Manufacturing Business Survey Committee. With decades of global sourcing leadership—from United Technologies to managing $25B in procurement at FedEx—Susan shares insights on the key trends shaping global supply chains and what they mean for the manufacturing outlook.