In a survey of 600 leaders from North American manufacturing companies, Parsec’s State of Manufacturing 2024: North America report pulls back the curtain on the key challenges today’s manufacturers face. The report digs into the ways manufacturers are adapting strategies amid a complex geopolitical backdrop, an ongoing labor shortage, and pressure to embrace digital tools. Parsec’s 2024 survey explores how leaders are weighing the risks and rewards of technology investments, ensuring resiliency, and minimizing disruptions throughout their supply chain operations.
Survey Highlights
- Contending with supply chain disruptions remains “very” or “extremely” challenging for nearly three-quarters (71%) of North American manufacturers, with economic downturns (38%) and lack of visibility (36%) cited as top challenges.
- Manufacturers are moving away from “just-in-time” fulfillment to promote resilience, opting to diversify suppliers (41%), increase inventory (37%), and implement new technologies (36%).
- While enthusiasm about AI remains high, 30% of respondents said a lack of talent is a key barrier to adoption. This could stall progress for the 83% of respondents anticipating widespread AI use within their companies within the next four years.
- Despite interest in reshoring, manufacturers remain concerned about a lack of suitable facilities (45%) and difficulties securing a skilled workforce (44%) in locations closer to home.
Download the report to learn more.
