Competitiveness in American Manufacturing
Manufacturing creates and produces items on a large scale for a wide variety of industries. For years, there had been a decline in U.S. manufacturing. Today, things are starting to change for the better. It’s estimated that by the year 2020, the U.S. will take the lead spot on the Global Manufacturing Competitiveness Index (GMCI). This research platform is a multi-year research project from Deloitte and the Council on Competitiveness.
Industrial labor and modern day machinery provide the vast majority of countries with work. The products that come from manufacturing processes allow for worldwide importing and exporting. As a result, our industry is directly related to economic growth. In addition, global trade is based predominantly on goods, not services. This means competitive manufacturing between countries is a good indication of that economic growth, benefiting both businesses and consumers. Manufacturing is vital for every industry.
There are four main reasons that the U.S. is slowly edging out China for the GMCI top spot: cost competitiveness, workforce, supplier network, and talent. Laborers in the U.S. have a higher level of quality talent and overall skill set. Taking a look at the general overview of manufacturing standings, China currently holds the top spot, followed closely by the United States, Germany and Japan.
In recent years, there has been a strong desire to bring back companies that once left the U.S. This effort, reshoring, is run by two driving factors: Americans seeking U.S. made products and schools that are working with STEM (science, technology, engineering, and math) programs. Now that younger generations are learning about the importance of the field, the future of the manufacturing industry seems much brighter.
At Astro Machine Works, we have over 30 years experience in the fabrication and custom machine building industries. We can produce products for any industry, from medical to food processing and everything in between. Our commitment to high quality and time-sensitive issues makes us a leader in our field. The team here at Astro Machine Works takes pride in our products and believes in further and continued promotion of U.S. manufacturing.