Despite supply headwinds, labor shortages, and an uncertain economic environment, the manufacturing industry continues to surpass the expectations of previous years. To maintain this growth, leaders should leverage digital technologies, adopt strategies for the future of work, and drive supply chain resiliency. Our 2023 outlook explores five manufacturing industry trends that can help organizations turn risks into advantages and capture growth.
Difficulties in heavy-duty truck manufacturing appear to be improving, potentially allowing more deliveries in 2023.
COVID-19 policies pausing factories in China are easing and semiconductor shortages have reversed, allowing major OEMs to boost production. But as fleet managers contend with an economic slowdown, analysts and other industry experts are noting potential roadblocks.
“Max headwinds from supply chain risk were really over the course of ’22,” said Jerry Revich, Goldman Sachs’ head of U.S. machinery, infrastructure and sustainable tech research. “We’re now at a point where we’re seeing increasing signs of supply, catching up with demand and in some cases, overtaking demand.”
While orders are expected to be strong in the first half of the year due to pent-up demand from shortages, the outlook is more murky for 2023’s second half.
In his speech Thursday, Dr. Meyer noted that, “One year ago, when I presented the outlook that had been constructed over the prior weeks, it was less than 24 hours since the Russian invasion of Ukraine, an event that injected tremendous uncertainty into agriculture and energy-related markets. Risk and uncertainty have always been fundamental characteristics of farming, and few other industries are as vulnerable to the vagaries of the weather or the threat of long-term effects of climate change. However, the war in Ukraine is unlike a drought as it had a sudden beginning. It also has no clear anticipated conclusion and remains a source of uncertainty in agricultural markets even as the human tragedy continues.
“The immediate effect on global food markets was a halt in supplies from one of the world’s top agricultural producers and exporters. Prior to the invasion, Ukraine was the world’s fourth largest exporter of corn, fifth largest exporter of wheat, and top exporter of sunflower oil and sunflower meal. While Ukraine was able to shift some export volumes to overland routes and Danube ports, it wasn’t until July 22 with the signing of the Black Sea Grain Initiative that exports through Black Sea ports could resume, although the pace remains far below pre-invasion volumes. There is a critical negotiation for extension of this deal in the coming weeks.”
As far as my coaching involvement goes at PHHS, I attend daily practices during the season and assist in practice/game planning.
I conduct individual basketball workouts along with conditioning/weight training in the off-season. Not only do I place an emphasis on basketball fundamentals, but life skills as well. Incorporating my military background, I try to make it a point to have our players address people with “sir” and “ma’am”.
Some of the other life skills I try to emphasize are punctuality, face-to-face communications, teamwork, service before self, and taking ownership of mistakes/errors. I feel that these lessons are the most valuable lessons kids can learn through playing sports. Winning games is great, but these lessons will take these kids a lot farther than basketball.
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