The manufacturing sector has been changing considerably over the last 20 years. Many of these changes have been exacerbated by the pandemic.
Investors, managers, and employees in the manufacturing sector should be aware of some of the most significant changes on the horizon. Here are some of the biggest trends shaping this sector over the next year.
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There will be a greater focus on modernization.
Manufacturers are going to have to do everything possible to modernize their facilities. This entails investing in new equipment.
Fortunately, modernized equipment doesn’t have to be purchased new. Some companies can find great used machine tools, which can be purchased at a discount.
Production per employee is expected to continue to increase.
The manufacturing sector has been moving jobs overseas for years. This is a pattern that is expected to continue. The number of jobs decreased 2.4% between 2002 and 2012. It has declined another 0.5% over the past ten years.
