Manufacturing Leads the Economy with Two Key Trends
Published on by Barnes Dennig in Manufacturing
The 2015 Annual AICPA Global Manufacturing Conference was held last month in Denver, Colorado. Among the many topics presented during the two day conference, there were two recurring themes amongst all of the presenters:
- The increasing emphasis on technology in global manufacturing
- The continued resurgence of the manufacturing industry since the Great Recession
Technology:
“…the continual convergence of technology and the continual bolting together of the different technologies is a mega-trend we will see play out in the next 5-10 years.” – Patricia Panchak, Editor-in-Chief, IndustryWeek
As technological capabilities, such as 3D printing and robotics, continue to evolve, so does the manufacturing industry as a whole. Manufacturers are increasingly being asked by customers for newer, more innovative products. However, managing changes in technology is seen as one of the biggest challenges facing manufacturers in today’s business environment. As a result, many manufacturers have taken a wait and see approach to advanced manufacturing. Companies must assess if newer technology is in line with their business model and customers’ needs.
Resurgence:
“Manufacturing was the sector that drove us out of the recession that was the worst since the Great Depression.” – Patricia Panchak, Editor-in-Chief, IndustryWeek
Whether advanced manufacturing makes sense for a company, it was clear the manufacturing industry continues to help lead the economic recovery. There is much optimism based on leading economic
AICPA Global Manufacturing Conference:
The conference outlines strategies to support profitability, productivity and growth in a global economy. The program identifies indicators, including unemployment and hiring figures, that the economy will continue to flourish in the coming years. As has been the case for years, manufacturing continues to be the strength of the U.S. economy.
About the special challenges faced by the industry and offers best practices on overcoming these hurdles.
Industry leaders and experts will speak on global corruption compliance issues, supply chain optimization and tactics for avoiding cultural gaffes. Financial experts outline industry-specific tips on management accounting and innovative concepts of new age planning. The event also offers insight into outsourcing and offshoring strategies, international tax issues, cyber security considerations, fraud detection in a global setting, and technology as a critical client management tool, among other topics.