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Executive Perspectives: The State of US Manufacturing Today

NEW YORK, NY, Aug 27, 2014 - (ACN Newswire) - Interviews with Rebecca R. Taylor, Tom Easterday and Patrick Malone, speakers at the marcus evans Manufacturing CXO Summit 2014, taking place in Las Vegas, Nevada, September 29-30, 2014.

- Rebecca R. Taylor, Senior Vice President, National Center for Manufacturing Sciences

We stand at a threshold where we can fast-track the future of manufacturing. That future replaces physical processes with virtual ones, feeding on trillion-point data sets and pioneering advances in nanomaterials, 3D printing, and robotics to create new demands, opportunities and avenues for productivity. The future of manufacturing will completely reinvent paradigms for cost, risk, and time to market.

The biggest opportunities lie in the management, protection, and analysis of Big Data - bigger than what manufacturing has embraced so far. Simulations and virtual processes will create an environment of ultra-connected, intelligent systems, allowing companies to manage equipment, lifecycle, and customer relationships in real time. Manufacturing will be four-dimensional, customizable, employing a vast workforce of highly skilled, highly paid professionals in design, engineering, cyber-security, and data analytics. The Twentieth was a pretty cool century, but the next industrial revolution is going to leave this world behind.

- Tom Easterday, Executive Vice President, Secretary and Chief Legal Officer, Subaru of Indiana Automotive, Inc.

Manufacturing in America is clearly on the rise, continuing its steady recovery from the decline caused by the recession. While production has increased in several sectors, growth in production volume has been particularly strong among automakers and automotive parts suppliers; as vehicle sales in the US have risen from 10.4 million in 2009 to 15.6 million in 2013.

Continued growth in US manufacturing is largely dependent on improved economic conditions in the US and our leading export markets. However, the biggest current challenges to US manufacturing growth may be the high federal tax rate and the growing burden and cost of federal regulations. To remain competitive in the global marketplace, manufacturers need to better educate government officials on these issues and make sure our voice is heard in Washington.

It is also very important that US manufacturers maintain their leadership in quality, productivity and innovation. To further improve, and maintain that leadership, they need to enhance workforce recruiting and skills training programs, expand utilization of lean manufacturing practices, and strengthen continuous improvement activities that increase quality, encourage creativity, promote environmental stewardship, reduce downtime and make workplaces even safer.

- Patrick Malone, Director, Manufacturing Operations, Medtronic

Since 2009, the US Bureau of Labor Statistics has reported a steady increase in the number of manufacturing jobs in the US. I believe this resurgence in US manufacturing will continue, as the outlook for energy cost in the US is expected to be relatively favorable from a global perspective. A second important factor is the shift towards higher levels of manufacturing automation, which will make moving manufacturing to low cost labor regions less financially attractive.

In order to support this resurgence in US manufacturing, US manufacturers need to be focused on strategic workforce planning and ensure talent management processes are developed to support future business growth. Talent drives the business and a prioritized, deliberate focus on achieving talent excellence will be a differentiator for market leaders. Key elements of effective strategic workforce planning will include critical competency forecasting, anticipatory talent acquisition methodology, a rigorous talent development process, partnerships with academic institutions and a flexible work environment that enables a culture of innovation and collaboration.

About the Manufacturing CXO Summit 2014

The Manufacturing CXO Summit is the premium forum bringing elite buyers and sellers together. The Summit offers solution providers and manufacturing executives an intimate environment for a focused discussion of key new drivers shaping the manufacturing industry. Taking place at the Red Rock Casino, Resort & Spa, Las Vegas, Nevada, September 29-30, 2014, the Summit includes presentations on LEAN best practices, innovation in manufacturing, effective talent management, supply chain performance and on reducing manufacturing costs.

For more information please send an email to [email protected] or visit the event website at www.manufacturingcxosummit.com/RebeccaRTaylor-TomEasterday-PatrickMalone...

marcus evans group - manufacturing sector portal - www.marcusevans.com/reviews/manufacturing

Please note that the Summit is a closed business event and the number of participants strictly limited.

Source: marcus evans Summits

Sarin Kouyoumdjian-Gurunlian, 
Press Manager, marcus evans, Summits Division
Tel: +357 22 849 313
Email: [email protected]

Copyright 2014 ACN Newswire. All rights reserved.

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