Economic indicators are divided into three pillars with 12 distinctive areas, according to the World Economic Forum. Categories: Current State of Manufacturing, Innovation, Global Competitiveness, Federal and Industry Collaboration, Best Practices, The data-driven world will be always on, always tracking, always monitoring, always listening, and always watching – because it will be always learning. Taken alone, the U.S. manufacturing sector would be the ninth-largest economy in the world, according to the National Association of Manufacturers. Overall, the study indicates that leading nations are making the paradigm shift towards prioritizing the development of talented and skilled citizens, who are the source of their competitive advantage, and benefits from their manufacturing infrastructures and ecosystems. Headline cases of a number of large multinational companies have given increased visibility to the phenomenon of reshoring in the (economic) press, academic research and policy discussions. Categories: Education and Workforce, Regulatory and Policy Recommendations, The report was prepared by the 18-member steering committee of the Advanced Manufacturing Partnership (AMP). Categories: Capital and Cost, Federal and Industry Collaboration, Regulatory and Policy Recommendations, This study, gathering data from more than 550 CEOs and senior manufacturing leaders in 2012, is part of a multi-year initiative to better understand the trends creating a hyper-competitive global manufacturing environment. This report informs the debate over the health of U.S. manufacturing through a series of charts and tables that depict the position of the United States relative to other countries according to various metrics. The rise of ecommerce fulfillment centers and the digitization of distribution, pioneered by Amazon, opens up new ways for manufacturers to shift from a warehousemodel to a more flexible distribution process. Four academic papers from noted experts were commissioned for this conference. Categories: Innovation, Global Competitiveness, Education and Workforce, Regulatory and Policy Recommendations, Sustainability, This report offers observations and recommendations on how to increase small and mid-size manufacturers (SMMs) SMMs' contribution to manufacturing exports; and answers questions related to: the importance of exporting to SMMs with the greatest export growth potential, types of assistance exporters need, the importance of innovation and supply chain for growing exports, and export assistance in a a limited funding environment. These specific measures include: manufacturing and logistics industry health, human capital, cost of worker benefits, diversification of the industries, state-level productivity and innovation, expected fiscal liability, tax climate, and global reach. cheap work force), but as a building process for an economic structure based on capital investment and research, development and innovation”. Overall, the report uses 26 indicators, divided into five key areas that best capture what is new about the New Economy: 1. The report is in support of a major joint research efforts undertaken by MEP and the U.S.Commercial Service. But in reality, economies are constantly evolving complex ecosystems. This new report addresses and refutes many misconceptions on the state of manufacturing today. This new report serves to better understand the environmental conditions, challenges, and opportunities middle market manufacturers currently face; uncover what the best-performing middle market manufacturers are doing to mitigate risks and capitalize on opportunities; and present key findings and best practices manufacturers can use to navigate the shifting environment and identify strategies for continued growth and success. The results focus on four empirical investigations pointing to the growing strength of US manufacturing, and, in many cases, refuting or updating previous claims. Tackling such a challenge was a consequence of the subtitle of the Sectorial Operational Programme “Increasing Economic Competitiveness”, namely “Investing in your future” (structural instruments 2007-2013). This it can achieve by promoting some of the procedures, reengineering systems and trade. America cannot address its economic prospects without a clear understanding of what we mean by competitiveness and how it shapes U.S. prosperity. Any global pay, bonus or benefits plan should clearly define all key terms—even terms with meanings that seem obvious back at headquarters. Categories: Current State of Manufacturing, Innovation, Global Competitiveness, Education and Workforce, This paper examines the nature and prospects of robotics and associated production technologies, reviews the literature on their impact on spatial dynamics, reviews recent data on robotic adoption, including controlling for robot adoption rates by domestic worker compensation rates, and speculates on future trends in the spatial distribution of manufacturing. The steady growth across all three of these areas might have seemed like wishful thinking just a few years ago when manufacturing was hit especially hard. In the 2015-2016 report, Romania ranked 53rd out of 140 states, the most problematic factors undermining business dealings being: the tax rates, the inefficient governmental bureaucracy, the access to funding, the inadequate infrastructure and corruption. This Policy Brief updates a 2013 PIIE study by Robert Lawrence and Lawrence Edwards. The key to success in these areas will be collaboration between governments and private sectors. Such an analysis must embark upon the following steps – defining and evaluating key factors triggering the change; identifying critical effects and subsequent implications for both the economy and the business environment; prioritizing imperative actions or related to assumed policies in order to respond to such factors of change and their impact; and projecting alternative scenarios, prospective/future-oriented, based on the possible way of responding to those imperatives. Romania ranked the lowest: Despite all of these hindrances, Romania still displays a native “future-proofness”, which can endow it with an advantage on the global arena of competitiveness. Changes in the structure of manufacturing make it difficult to design government policies that support manufacturing-related value added and employment in the United States. The main themes currently debated in prospective analyses are those related to changes with impact on wealth and power, extreme economic uncertainty and transition policies in many countries. cheap work force), but as a building process for an economic structure based on capital investment and research, development and innovation”. The Global Competitiveness Report (GCR) is a yearly report published by the World Economic Forum.Since 2004, the Global Competitiveness Report ranks countries based on the Global Competitiveness Index, developed by Xavier Sala-i-Martin and Elsa V. Artadi. It addresses needs in three broad categories: enabling innovation; securing the talent pipeline; improving the business climate. At issue is whether incentives for technology transfer remain necessary, if additional legislative initiatives are needed to encourage increased technology transfer, or if the responsibility to use the available resources now rests with the private sector. Secure .gov websites use HTTPS These trends are likely to exacerbate the digital divide across firms in the EU and the US. Categories: Innovation, Federal and Industry Collaboration, Regulatory and Policy Recommendations, This paper focuses on technology transfer to the private sector, as well as to local and state governments, and the rationale for federal interest and involvement. Categories: Current State of Manufacturing,  Global Competitiveness, Education and Workforce, This policy memo focuses on one major economic argument in favor of increased infrastructure investment—that it would increase demand for American manufactured goods and, in turn, generate American manufacturing jobs. Strategic effects for the business environment. It is a modest tribute to the ideal of a society of high standards which fosters reasoned debate and principled argumentation. It reveals some powerful emerging currents with strong potential to change the way factories work. Categories: Capital and Cost, Innovation, Education and Workforce, Productivity, Provides numerous examples of best practice in one or more of ten competitor nations in the areas of: technology acceleration programs and practice; technology acceleration funding mechanisms; next generation manufacturing technical assistance; and connectors. A competitive economy is a productive one. Categories: Current State of Manufacturing, Innovation, Global Competitiveness, Federal and Industry Collaboration, Regulatory and Policy Recommendations, The United States has been the world's largest recipient of foreign direct investment (FDI) since 2006. Highlights from the study include: The linkages between national prosperity and advanced technologies, manufacturing and the innovation ecosystem; Global R&D trends and America's relative position; Opportunities as well as challenges for US industry; An Industry Innovation Playbook. Global growth over the next 30 years will be entirely generated by urban areas. [2] Also, the dimensions of urban spaces do not constitute a constraint on competitiveness. Tomorrow’s business models have to respond to a rapidly changing market. Categories: Current State of Manufacturing, Global Competitiveness, Education and Workforce, Regulatory and Policy Recommendations, Productivity, This report provides an overview of the renewed expansion in manufacturing, examining output, international trade, and the labor market. Mastering the Competitiveness Challenge Although the path to competitiveness involves a long and complicated process, countries and leaders can look to several areas to help them move forward. When you hit submit, you'll have a choice of "opening" or "saving" the file. Greater Portland has a global reputation when it comes to advanced urban planning, leading edge sustainability, and a high quality of life for its citizens. Categories: Innovation, Global Competitiveness, Productivity, Supply Chain, The growth of middle market manufacturing has brought both unique challenges and new opportunities. The government assumes a very important role in enhancing competitiveness. The paper also discusses the phenomenon of reshoring in more detail, by unpacking the concept itself and analysing the different motivations why companies choose to reshore activities. It lays out key challenges facing the U.S. manufacturing sector, advances reasons why the nation should care about manufacturing, and sets forth the rationale for an active federal role in fostering manufacturing innovation. Emerging markets, with populations that are young and growing, will increasingly become not only the focus of rising consumption and production but also major providers of capital, talent, and innovation. Despite this improvement, there is not yet evidence to support the notion of a U.S. manufacturing "renaissance." The global competitiveness is enhanced mostly by the government of a particular country. Globalization; 3. Categories: Global Competitiveness, Federal and Industry Collaboration, Education and Workforce, Regulatory and Policy Recommendations, This publication examines the opportunities and challenges, for business and government, associated with technologies bringing about the “next production revolution”. Edited by manufacturing workforce authority Keith Campbell, with contributions from over 20 experts, this resource brings together relevant data, case studies and expert insights about educating and training operators, technicians and technologists for America's manufacturing renaissance. Categories: Innovation, Global Competitiveness, Education and Workforce, Regulatory and Policy Recommendations, Supply Chain, Canadian industry and thought leaders view digitization as a way to enhance the competitiveness of the economy; digitization can also improve the delivery of services such as health care. Achieving stronger growth will require the right combination of policies, especially to reinforce labor and capital markets. Understanding which trends in manufacturing reflect factors that may be unique to the United States and which are related to broader changes in technology or consumer preferences may be helpful in formulating policies intended to aid firms or workers engaged in manufacturing activity. This was the main instrument to bring into being the second specific priority of the National Strategic Reference Framework (2007-2013) – long-term improvement of the economic competitiveness in Romania – an aspect, which is covered by the National Development Plan as well. Global competency skills are necessary so that young people can invent a future that appropriately addresses global challenges. Data value chains would allow participants in existing supply chains to share data, gain new insights, solve problems and become more efficient. The global distribution of the GDP (Source: Jeff Desjardins, Visual Capitalist, published on 22 February 2017[1]). Categories: Current State of Manufacturing, Global Competitiveness, Federal and Industry Collaboration, Regulatory and Policy Recommendations, In the conventional view, economies are static entities, changing principally only in size. The fact that these have been identified by certain actors represents a clear proof of the capacity of some states and sectors to engage in strategic thinking in the long run, as well as their desire to do so. Copyright © 2016-2020 | The Market for Ideas, http://www.visualcapitalist.com/74-trillion-global-economy-one-chart, http://www.businessinsider.com/exclusive-jpmorgan-employee-note-confirms-aggressiveinvestment-in-block-chain-technology-and-robotics-2015-12, http://dictionary.cambridge.org/dictionary/english/future-proof, https://www.techopedia.com/definition/2204/future-proof. Indeed, as we have already emphasized, some states or companies (i.e. The recommendations include a call to establish a national network of manufacturing innovation institutes; an emphasis on investment in community college training of the advanced manufacturing workforce; an approach to evaluate platform manufacturing technologies for collaborative investment; a plan to reinvigorate the image of manufacturing in America; and proposals for trade, tax, regulatory, and energy policies that would level the global playing field for domestic manufacturers. A brief assessment of the forces which shape the business environment will open new horizons for future debates. The comparison matrix on p.6 is an indicative summary of what can be found throughout the report. Challenge: Harnessing the Power and Potential of American Talent to Win the Future Skills Race Solution: Prepare the Next Generation of Innovators, Researchers and Highly-Skilled Workers. Improving competitive position (34%) and attracting new or different types of investors (33%) are also frequently cited. This was one of the key findings outlined in Canada’s competitiveness scorecard. Categories: Innovation, Capital and Cost, Global Competitiveness, Federal and Industry Collaboration,Education and Workforce, Supply Chain, The Clarion Call, A Look Back and a Path Forward provides a federal policy "report card" of actions (and lack of actions) since the Council issued a clear and concise agenda to policymakers last year, which included a road map to grow the American economy and included core principles and recommendations critical for the United States' long term economic growth and job creation. Most of these digital technologies have been brewing for some time. The emergence of the digital economy and the global spread of broadband capacity have opened a host of service occupations to international competition. In an increasingly uncertain world (as compared to the previous logic of business as usual), in which every aspect of the economy, of the business environment and of the social sphere will be in constant transition, the elements presented here in general terms illustrate critical aspects which will affect the landscape that is being defined. “Combined, China and India's GDP is projected to exceed that of the major seven (G7) OECD economies by 2025. This will make it imperative for most companies to succeed in emerging markets. Categories: Current State of Manufacturing, Capital and Cost,Global Competitiveness, Federal and Industry Collaboration, Education and Workforce, Regulatory and Policy Recommendations, To listen to many economists, pundits and policymakers discuss the economics of growth it would be easy to be confused by the commonly used terms: competitiveness, innovation and productivity. IDs emerging global trends in advanced manufacturing. In order to stay competitive in the global market, companies need to find the highest skilled workers, breathe innovation and become more efficient in energy, production and logistics. [1] http://www.visualcapitalist.com/74-trillion-global-economy-one-chart. Categories: Current State of Manufacturing, Innovation, Global Competitiveness, Education and Workforce, Best Practices, Productivity, Supply Chain, The health of the U.S. manufacturing sector has long been of great concern to many stakeholders including Congress. However, companies are not consistently aware of the emerging technologies. These include a variety of digital technologies (e.g. While U.S. manufacturing employment has declined over the past 25 years, the future outlook is bright. The report further examines how the development of common standards can facilitate technology adoption and proposes a typology that helps conceptualize different manufacturing production systems and strategies, showing how these need to be supported by varying digital toolsets. Challenge: Fueling Investments in the Innovation and Production Economy from Start-up to Scale-up Solution: Enact fiscal reform, transform tax laws, regulations and other structural costs to spur investment, ramp up production, capitalize growth companies, and create skilled jobs 2. Challenges and Opportunities in U.S.-China Relationship. The concept is widely misunderstood, with Competitiveness and challenges in the steel industry OECD Steel committee 74 th session Paris, July 1, 2013 CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of McKinsey & Company is strictly prohibited This report focuses on an emerging alternative digital future for manufacturing, the “Internet of Goods." A set of high-priority recommendations were developed detailing immediate and longterm critical needs to improve the national innovation ecosystem vital to sustaining US competitiveness. This global culture is often criticized for taking the place of previously established domestic cultures (and motivating consumerism). 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