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2013 Next Generation Manufacturing Study reveals opportunities

first_img2013 Next Generation Manufacturing Study Reveals Opportunities for Manufacturers to ExcelRandolph Center, VT – In conjunction with National Manufacturing Day activities being held during the month of October across Vermont, the Vermont Manufacturing Extension Center (VMEC) is pleased to announce the release today of the “2013 Next Generation Manufacturing (NGM) Study.” The NGM Study measures manufacturers’ readiness, support systems, resources, and performances in six key strategic areas necessary for world-class manufacturing and future success. Those key areas include: 1) Customer-focused Innovation; 2) Engaged people / human capital acquisition, development and retention; 3) Superior processes / improvement focus; 4) Supply chain management and collaboration; 5) Sustainability; and 6) Global engagement.  The American Small Manufacturers Coalition (ASMC), in partnership with  The Manufacturing Performance Institute (MPI), part of  The MPI Group, chose National Manufacturing Day to release a summary of its results from the 2013 Next Generation Manufacturing (NGM) Study based on recent survey responses by manufacturing executives from Vermont and across the United States. Current data shows that manufacturing organizations that achieve world-class status in at least two of the six NGM strategies, and maintain industry-average levels in the other four areas, are in the best position for long-term survival and success.  However, the 2013 data finds that most of these manufacturers ‘ successful as they are today ‘ are not sufficiently investing in the strategies that will carry their firms into tomorrow. ‘The study data identifies an enormous execution gap ‘ the difference between the numbers of firms that recognize the importance of a particular NGM strategy, and the number that comes close to or that achieved world-class status in that strategy,’ said John Brandt, Founder & CEO of MPI.  For example, the study found: 90% of manufacturers believe superior process improvement is important, whereas only 44% of those manufacturers are near or currently at world-class status in process improvements.While human capital management is an issue, NGM data suggests few manufacturers are taking initiative to address talent shortages: 69% of manufacturing executives have the leadership and talent to drive world-class customer-focused innovation, but only 37% have talent development programs to support world-class customer-focused innovation.Most manufacturers have the tools, technologies and business equipment they need today, but those tools won’t meet the needs of the future.  Only 11% of manufacturers describe their tools and business equipment as ‘state-of-the-art’ and capable of providing long-term support for world-class supply-chain management.33% of manufacturing executives anticipate a planned leadership succession in the next five years, and another 28% of executives indicate a succession may occur.Similar to 2011, manufacturers continue to seek external support from outside organizations in dealing with a range of activities from compliance issues, to strategic planning, to supply-chain development. Of those manufacturers that have used outside resources, they report a positive impact.According to Bob Zider, VMEC Director / CEO, “Clearly, small and medium-sized Vermont manufacturers must continue to transform and stay focused wherever possible on closing the execution gaps across all six NGM strategies in order to remain competitive long term, and that unfortunately isn’t happening rapidly enough when you compare  the 2013 NGM survey results against results from the 2009 and 2011 NGM Surveys.’ About VMEC – Since 1995, VMEC has operated as a not-for-profit with a primary mission “To improve manufacturing in Vermont and strengthen the global competitiveness of the state’s smaller manufacturers.” This is done through confidential consulting, coaching, hands-on implementation assistance and training to help Vermont manufacturers achieve profitable growth through innovation, increase their productivity, improve their manufacturing and business processes, reduce costs, improve competitiveness, and create and retain good paying jobs.   Through the VMEC PSG business unit established in 2006, VMEC also brings its deep process and strategy expertise to selected non-manufacturing sectors in Vermont, including but not limited to healthcare, higher education, government, and financial services. Visit www.vmec.org(link is external) for more information. Randolph Center, VT – 10.4.2013last_img

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