5 Challenges Facing the Industrial & Manufacturing Sector

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5-Challenges-of-Industrial-and-Manufacturing-Sector
5-Challenges-of-Industrial-and-Manufacturing-Sector

The industrial and manufacturing sector keep evolving and that evolution doesn’t just happen. It’s almost always a direct result of overcoming the challenges that threaten the existence of the sector. So, are there any challenges that the sector is dealing with currently?

Well, here are 5 challenges the manufacturing sector is currently trying to overcome.

Changing Compliance Regulations & Traceability

Changing regulations have always haunted manufacturers. But, they’re there for a good reason. Without compliance standards, manufacturers could very well end up cutting corners, which ultimately ends up affecting the end consumer.

So, for the sake of things such as quality control or proper waste management, compliance standards need to exist. However, complying with new standards isn’t an easy task for manufacturers. More often than not, they’re a burden and thanks to globalization, manufacturers are also forced to deal with regulations that are unique to each territory.

Manufacturers are also tasked with tracking compliance as well. This means that they have to go through the entire supply chain to check for compliance, right from vendors to the end-product that’s sent to the customer.

Relevance

As technology evolves, the rate of innovation increases. But, this also means companies have to rush and that can lead to all kinds of temptations. The urge to skip a step or avoid certain tests can be hard to resist when the goal is to market the product as soon as possible.

But, the last thing a manufacturer needs is to put the business at risk with a low-quality product. So, innovation management becomes a must in these situations. Preferences change by the day and any delay in delivering appropriate solutions can mean the end of everything.

So, manufacturers have to establish a system that allows for the consistent delivery of new ideas and innovation.  Only this can sustain manufacturing success.

Skills Gap

As one generation exits the workforce, it makes way for a new generation of workers. This transition is, in itself, quite a challenge. But, things are very different today.

Manufacturers face the challenge of filling up those positions with equally skilled members from the current generation. However, the new generation of employees is simply not skilled enough, making the challenge even harder to overcome. As a result, manufacturers have to develop strategies such as working with the education sector to offer the skills training necessary to fill these positions.

Some manufacturers are also retaining skill by extending the retirement age.

Healthcare

As healthcare costs go up, it becomes very difficult for manufacturers to manage their budgets. For instance, in the US, it’s manufacturers who foot healthcare bills for their employees. But, with costs going up, it is simply not feasible and there are no viable alternatives.

Environmental Concerns

Regulations with regard to sustainable and environmentally safe processes and practices put more strain on the manufacturing process. Whether it’s waste disposal or the regulation of materials, more resources are needed to follow best practices.

As you can see, it’s not exactly easy for the industrial and manufacturing sector. However, manufacturers have to figure out a way to leverage technology and innovative ideas to keep up with the changes that pose a threat to them.

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