IQReport September 2020
US Manufacturing Sustains Growth as Optimism Returns
Economic activity in the manufacturing sector continued to grow in August, with the overall economy notching a fourth consecutive month of growth, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.
The August PMI® registered 56 percent, up 1.8 percentage points from July. The ISM’s production index rose to 63.3%, up 1.2 points from July, and new orders and prices increased by more than 6 points in August, as the new orders index rose 6.1 points to 67.6% and prices increased 6.3 points to 59.5%.
Quoted respondents to the August ISM survey were more optimistic than they were in June and July as the recovery maintained its course. “Business is very good,” wrote a chemical products CEO. “Production cannot keep up with demand.” A plastics & rubber products executive reported “solid month-over-month order improvement in all manufacturing sectors."
Upskilling & Recruiting Veterans for Manufacturing Careers
More than 200,000 men and women transition out of the military each year, and The Manufacturing Institute has estimated that manufacturers will need to fill 4.6 million jobs by 2028. With their technical skills, ability to lead and follow under pressure, and experience working in teams, veterans bring exceptional value to the manufacturing industry— even more so during these challenging times.
The Manufacturing Institute's Heroes MAKE America program connects the military community with career opportunities in the manufacturing industry. The program provides integrated training, certification, and career-readiness in partnership with local community colleges to prepare transitioning service members, veterans, National Guard, reservists, and military spouses for rewarding careers in manufacturing.
Getting Started with Quality Cost Management
Consistent product quality is the most proven predictor of any manufacturer’s success. Competitors may imitate each other’s marketing, but superior quality stands alone as the most trustworthy statement of the company’s values. That is why manufacturers who embrace quality cost management are driving higher customer demand and loyalty—and greater profits—than competitors spending millions of dollars to market mediocre quality products.
A recent article in Quality Magazine highlights how ingraining Cost of Quality (COQ) across manufacturing operations can deliver new insights to control per-unit production costs, achieve greater efficiency in manufacturing processes, and increase production yields.
Join DELMIAworks (IQMS) at these upcoming webinars and virtual events:
- Sept. 10th, 11 am PT - MetalForming Webinar: Ensuring Manufacturing Resiliency - Learn how Northern Industrial was able to make operational and supply chain changes quickly and never miss a beat in day-to-day operations. REGISTER NOW!
- Sept. 15th, 11 am PT - What Makes DELMIAworks' Unique - Learn more about DELMIAworks unique combination of factory floor process control and monitoring coupled with ERP functionality. REGISTER NOW!
- Sept 21-25 - Plastics News: Plastics Caps & Closures - The 2020 virtual conference will focus on emerging applications in many areas of caps and closures. LEARN MORE!
Increase Visibility & Resiliency with an MES Solution
Manufacturing Execution Systems (MES) have reached a new level of importance and relevance to help manufacturers like yourself meet the daily challenges of reduced workforces, shorter lead times, higher quality, and increasing compliance demands.
Watch the on-demand webinar, Using MES to Grow & Stabilize Your Business, to see how a Manufacturing Execution System can increase agility, resiliency, and transparency into every aspect of your manufacturing operation. WATCH NOW!