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Future-Proofing Manufacturing: A Look at 2024 Challenges, Trends and Opportunities

  • IEN
  • June 7, 2024

By Dan Galorath, Founder and CEO, Galorath Incorporated

While the manufacturing industry has always been susceptible to disruptions, the COVID-19 crisis, post-pandemic economic effects, the ongoing conflict in Ukraine, and, more recently, the Israel and Gaza war have further exposed the vulnerabilities of today’s global supply chain. Businesses face a myriad of industry variables and challenges – from sourcing issues and delivery delays to fluctuating materials costs and heightened uncertainty – making it difficult to consistently estimate, plan, source, and complete projects on time.  

Although the industry is expected to face nominal economic growth due to heightened uncertainty and labor shortages, forward-looking manufacturing operations teams have a unique opportunity to future-proof processes by acknowledging priority trends across the industry, factoring in variables impacting change, and addressing long-term challenges with today’s should-cost analysis and risk management techniques. 

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