ThomasNet.com® Research Shows Technology Transforming Manufacturing

Manufacturers Must Address Ticking “Biological Clock” To Realize Growth

NEW YORK — (BUSINESS WIRE) — September 11, 2013 — At a time when technological innovations offer new growth opportunities for the manufacturing sector, a lack of talent from “rising generations” threatens its future vitality, according to ThomasNet.com’s Industry Market Barometer® (IMB) research.

The annual survey of more than 1,200 American manufacturers paints a picture of an industry that is thriving and reinventing itself every day, but is in danger of slowing down if it doesn’t replenish its talent pool. Most of these respondents are from small and mid-size manufacturing companies, representative of their sector. Currently, the future is bright for these companies: More than half (55 percent) grew in 2012, and nearly two-thirds (63 percent) expect to grow this year. They credit their people, brands, technology, and innovation as the assets that are helping them to compete. In fact, nearly seven out of ten (67 percent) will introduce new or innovative products/services this year.

But a closer look at the findings reveals a “disconnect” between the growth of these manufacturers, and their lack of urgency when it comes to bringing in fresh talent to carry them forward. The survey respondents mirror today’s manufacturing workforce, which is heavily populated by employees who are 45 and older. With Generation Y projected to make up 75 percent of the workforce by 2025, manufacturers need a collective “succession plan” to maintain their momentum. Yet, eight out of ten respondents report that this generation represents a small fraction of their employee base, and most don’t see that changing soon. In short, despite more opportunity ahead, manufacturing’s biological clock is silently ticking away.

“As a foundation of our economy, the manufacturing sector remains vibrant, but cracks are coming to the surface. Changes in the workforce demographics and old attitudes about manufacturing as a career threaten the industry’s expansion. It’s time for those who love American manufacturing to double their efforts to engage the next generation,” said Eileen Markowitz, President, ThomasNet.

Technology Improving Opportunities
From the back office to the factory floor, technologies are making manufacturing a hotbed of innovation, improving companies’ operations, and increasing their growth. For example, manufacturers are:

  • Boosting productivity with more advanced CAD (computer-aided design) software, CNC (computer numerical control) equipment, and cloud computing.
  • Making custom products through additive manufacturing.
  • Relying on “visual boards” for top-line views of their plants.
  • Using smartphones and tablets to monitor inventory for stocking and pricing.

One manufacturer noted, “Our company has transformed from a small manual welding shop to a national supplier of trailer hitches, agricultural, and job shop products and processes by embracing technology to increase worker productivity.”

Companies are also giving special attention to technology to improve sales, and more than half (62 percent) say their websites are their most effective business-building tactic. “Our company is doing exceptionally well, and with our website as our primary marketing tool, we have doubled our online sales,” said Karen Norheim, Vice President of Marketing and Information Technology with American Crane and Equipment Corporation in greater Philadelphia.

Negative Perceptions Deter New Generations
The opportunity to harness these technologies, and to create and innovate, is what makes manufacturing so rewarding, according to the IMB respondents. They believe that the positive attributes of manufacturing are lost to the public at large--including the satisfaction of developing new products, the environment of change, pride in Made in America quality, and the ability to improve people’s lives around the globe. Moreover, three out of four IMB respondents (73 percent) believe that negative perceptions about manufacturing careers are deterring young people from joining forces with them.

Calling on High Schools to Do More
Many manufacturers have developed creative partnerships with schools to engage their “best and brightest,” and they consider educators the ray of hope for their future. They are calling on high schools to offer more skills training, and to increase their emphasis on science, technology, engineering, and mathematics. They hope their potential successors will see, as one respondent says, that manufacturing is “a job that changes every day, but can last a lifetime.”

To download a complimentary report on the IMB findings, please go to www.thomasnet.com/imb. For additional information, contact Linda Rigano, ThomasNet’s Executive Director, Media Relations, at 212-629-1522 or lrigano@thomasnet.com.

About ThomasNet ®
ThomasNet is an information and technology company that connects manufacturing and industrial buyers and sellers. Buyers and engineers worldwide rely on ThomasNet.com®, industry’s leading free platform for industrial/commercial product sourcing and supplier discovery. ThomasNet News® delivers industrial news and trends via a family of online publications and newsletters.

We enable suppliers to leverage their product content to increase sales, using our proprietary Navigator Platform technology. We also offer a suite of Internet and digital media solutions, from websites with product catalogs, to SEO/SEM services, to social media. Our Enterprise Solutions offer suppliers the benefits of syndicating product data across systems and sales channels.



1 | 2  Next Page »



Review Article Be the first to review this article

Featured Video
Editorial
Jeff RoweJeff's MCAD Blogging
by Jeff Rowe
Re-Use Your CAD: The ModelCHECK Handbook
Jobs
GIS Analyst II for Air Worldwide at Boston, MA
Senior Structural Engineer for Design Everest at San Francisco, CA
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
Upcoming Events
Design & Manufacturing, Feb 7 - 9, 2017 Anaheim Convention Center, Anaheim, CA at Anaheim Convention Center Anaheim CA - Feb 7 - 9, 2017
Innorobo 2017 at Docks de Paris Paris France - May 16 - 18, 2017
Display Week 2017 at Los Angeles Convention Center 1201 S Figueroa St Los Angeles CA - May 21 - 26, 2017



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise