Over the past several months the Manufacturing Growth Alliance (MGA) has heard from small manufacturers across the state. The challenges and opportunities you are facing are unprecedented.
Many manufacturers are figuring out when and how to bring back workforce to fulfill orders. Other manufacturers are analyzing cash flow to figure out how to get through 2020. The majority of manufacturers are pivoting their focus and positioning for success in 2020 and beyond.
Deloitte produced a 2020 outlook on the manufacturing industry at the end of 2019. Given our current environment, they re-evaluated trends, challenges and opportunities that may impact the manufacturing industry throughout the second half of 2020. The updated outlook shares three trends that manufacturers can focus on in 2020.
Streamlined portfolios | Manufacturing companies are likely to diversify offerings within their simplified business portfolios
Supplier and talent ecosystem | Manufacturers are likely to expand existing channels to access supply and talent
Work, workplace, workforce | Manufacturers will likely need to retool their workplaces and plan for work and workforce changes
You can download the full report here.
MGA is here to help you navigate resources to stabilize your manufacturing firm and position your business for growth. MGA is partnering with Shepard Advisors to offer a no-cost webinar that will help small manufacturers plan for the future and position their company for sustainable growth. Register here.
Shepard Advisors experts will share a four-step method that will help a manufacturer:
Pivot proactively as markets shift
Rebound faster than others as the new normal emerges
Surface new opportunities and deploy resources
Build team clarity and confidence to tackle whatever the future brings.
Webinar participants will receive a no-cost interactive PIVOT2020 ebook that can be leveraged immediately.
MGA is here to support your needs to fully resume operations, maintain positive momentum post pandemic, and focus on future growth strategies.
Contact Jenn Deamud at Jenn@MGAlliance.org if you would like to share insights with MGA so we can help identify solutions.