In this first 2021 episode of “Cliff Notes on the Global Manufacturing Picture”, host Cliff Waldman reviews the final manufacturing data for 2020, places 2020 in the context of US manufacturing history and offers a forecast for 2021. Cliff also discusses the longer-term manufacturing outlook as well as post-pandemic structural issues, which include accelerated deployment of disruptive technologies, supply chain challenges and the evolving dynamics of the manufacturing workforce.
The streamlining of manufacturing processes has been one of the major focuses for companies in recent years, and the integration of new technologies has been a key element in achieving these goals. AI and machine learning are two fields that have been seeing increasing progress, and now manufacturers are starting to learn how best to incorporate them into their efficiency-boosting plans. (Read More)
As technology continues to advance, there are many who expect manufacturers to begin changing existing equipment and machinery for newer versions. However, these new tech developments can be quite costly, and considering the impact the Covid-19 pandemic has had on manufacturers worldwide, many do not have the money to invest in complete overhauls. Rather, what many are finding is a way to combine new technologies into their existing legacy machinery. (Read More)
The future of closed-die aluminum forging is wide-open. The value of the global metal forging market, with a predicted compound annual growth rate of 6.3% over the next several years, is set to grow to over $130 billion by 2027 according to recent reporting. With a growing demand for commercial and electric vehicles, a coming resurgence in aerospace, and an increasing need for forged parts in markets ranging from the sugar industry to machine equipment, the closed-die aluminum forging market is well-positioned to reach new heights in the coming years. However, in its present state, the forging market is also significantly fragmented and faces a variety of challenges. Forging companies that are able to recognize these difficulties and adapt to a shifting landscape will be in the best position to reap the benefits set to come over the next decade. (Read More)
Seeking through acquisition what you do not have in-house is a strategy implemented by our guest and her company to see growth. With acquisition comes diversification, which can help companies through things like global pandemics, and also provides a new customer base, and ultimately opportunities to expand your offerings, and thus quickening turnaround and increasing margins. Today we welcome to the show, Elizabeth Paquette. Liz is the Co-owner of Rock Valley Tool (RVT), a 50-year-old manufacturing company in Easthampton, Massachusetts. Liz left a special education career to acquire RVT, with her husband, who is the operations manager. Since their acquisition in 2013, they have grown the company by over 50% and they have acquired another manufacturing company. They continue to seek growth through acquisition. Tune in today as we hear straight from Liz all about how she transitioned to manufacturing, how they are working with their community to bridge skill gaps, implementing high school co-op programs, how diversification has helped her company during COVID-19, and much, much more!