Supply chain kinks, global inflation, rising geopolitical tension, chip shortages, tight labor conditions – it all adds up to a giant dose of uncertainty. As companies experience wave after wave of disruption, nearshoring is on the minds of many manufacturing executives. Coupled with government incentives for some industries, such as semiconductor manufacturing in the U.S., adapting a "build where we sell" approach is becoming more attractive.
To compete and make reshoring viable, North American manufacturers need to outpace the rest of the world in digitalizing their plant floors in order to exponentially increase labor productivity in a market with ever-increasing labor costs.
In our experience, no matter the scale and sophistication of the tools that enable a smart factory, they need to be deployed with a profit-and-loss (P&L) centric approach. Pragmatism is required for success on the plant floor.
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