Market Moves: Manufacturing - Dec 16th, 2023
 
 
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December 16, 2023
From the Editor

Hello and welcome back to Market Moves Manufacturing, a biweekly newsletter covering the latest news from Endeavor Business Media brands. In this edition, we start by examining reshoring efforts, new jobs, and the struggle to replace retiring Gen Xers and Boomers with a generation largely uninterested and unfamiliar with the industry. We’ll also cover how manufacturers are focusing on cybersecurity initiatives, the upsides of automation for smaller shops, and the challenges presented by AI integration.

If you enjoy this newsletter and want more, consider subscribing to the other Market Moves on cybersecurity, infrastructure, strategy, energy, and electric vehicles right here.

– Jennifer Ramsay

US manufacturing is moving in the right direction, but too slowly.
From American Machinist
https://img.americanmachinist.com/files/base/ebm/americanmachinist/image/2023/12/656e50a650b7e6001e85bf76-dreamstime146563051promo.png?auto=format%2Ccompress&w=320
Nearly 300,000 jobs are projected, largely from greenfield chipmaking and EV battery plants as a result of U.S. industrial policy and manufacturers assessing “geopolitical risk," countering a long “offshoring” cycle.
From Material Handling & Logistics
https://img.mhlnews.com/files/base/ebm/mhlnews/image/2023/12/656f40c4c4964e001e6db6f7-procurement_210302868__andrii_yalanskyi.png?auto=format%2Ccompress&w=320
Gartner survey shows business acumen and technology have gained importance compared to traditional procurement competencies.
From Automation World
https://img.officer.com/files/base/ebm/automationworld/image/2023/12/6577304706305e001e10664d-dreamstime_xl_64968387.png?auto=format%2Ccompress&w=320
As the manufacturing industries continue to face an ongoing worker shortage, addressing Gen Z’s concerns about industry could go a long way toward reducing the problem.
From Plant Services
https://img.plantservices.com/files/base/ebm/plantservices/image/2023/12/6572237070726d001ebac356-podcast_moving_beyond_wrench_time__how_to_improve_.png?auto=format%2Ccompress&w=320
In this episode of Ask a Plant Manager, Joe Kuhn says rather than focus on a specific wrench time goal or number, use it to improve your specific plant.
From IndustryWeek
https://img.industryweek.com/files/base/ebm/industryweek/image/2023/12/6578d3d45a1b16001f849445-dreamstime_m_158990889.png?auto=format%2Ccompress&w=320
Cyber-maturity is finally catching up to digital transformation, a new Manufacturers Alliance study finds.
From New Equipment Digest
https://img.newequipment.com/files/base/ebm/newequipment/image/2023/12/657781d494100e001ee36457-dreamstime_l_78231585.png?auto=format%2Ccompress&w=320
Mentioning automating, robots, or cobots to a small or mid-size job shop owner will likely be met with skepticism and a chorus of “not for me” responses. Here's the truth of the matter and five reasons to reconsider.
More from Plant Services
https://img.plantservices.com/files/base/ebm/plantservices/image/2023/12/656e315f5fff32001eb0638d-how_manufacturers_can_manage_ai_challenges.png?auto=format%2Ccompress&w=320
Deloitte outlines the risk factors for AI adoption and how to reach future success.
From Processing
https://img.processingmagazine.com/files/base/ebm/pcm/image/2023/12/657641a9abdedf001e6e00a5-fig1refinery_aerial_landscape_view_4k.png?auto=format%2Ccompress&w=320
Parts and skilled labor shortages are driving significant changes in the way shutdowns, turnarounds and outages are being planned and executed.

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