Manufacturing has decreased in the United States, although that doesn’t mean that the industry is dead or dying; in fact, it’s far from it. Why, if manufacturing is so important to our economy, has it seen a dramatic decrease in production over the decades? The answer isn’t simple, but it’s true that lots of manufacturing has been sent overseas because the costs are considerably less. The good news is that manufacturing may be on the cusp of a new revolution, and certain technologies may become the driving force behind it. Digitization and cyber systems have the potential to increase manufacturing productivity in the coming decades; more tech could mean lower costs to do business, and the efficiencies gained could compete cost-wise with the bills to do business in other countries.
Manufacturing is important to our economy, and not only because it bolsters the job markets. Statistically for every dollar of domestic manufacturing there is over three and a half dollars in economic activity generated somewhere else. That’s a considerable ripple effect that benefits many. It’s true that such a revolution would have to accompany a revolution in education; it would be imperative that the modern manufacturing workforce be educated in smart technologies, data collection, robotics and automation, etc. And while there has always been some resistance by bigger manufacturers to the education of a workforce, it would be necessary in the event that modern technologies brought home modern manufacturing.
NW Industries is ready to help you build your products using modern tech in the hands of a skilled and educated employee. If you have any questions about how NW Industries can help you achieve your goals, then call today.