COVID Innovations a Prelude to U.S. Manufacturing Resurgence
Manufacturing Expert Lisa Anderson says technologies and innovations sparked by COVID-19 are key contributors to the coming rebound.
Posted: July 2, 2020
Lisa Anderson, a manufacturing and supply chain expert and president of LMA Consulting Group Inc., forecasts a resurgence of manufacturing in the U.S.
“The COVID-19 pandemic turned the supply chain on end,” Anderson states. “It forced manufacturers to rethink their strategy, their products and their future. Those who took the time to identify opportunities and used this unique circumstance to leverage technology and innovate are already seeing results. Innovation has always been the key driver to manufacturing success. We are now seeing it pay off, and, it’s just the beginning.”
Innovation has opened not only new product possibilities for manufacturers, but also new relationships for cost reductions and improving the customer experience. From suppliers and 3-D printing to transportation options due to reshoring, manufacturers have an abundance of opportunity for differentiation and growth.
“China has fallen from favor not only due to COVID-19 and the supply chain disruption, but also because of the arduous policies they implemented early in the year which essentially removed all protections of intellectual property and patents,” she adds. “There has been talk about doing more business with Mexico, but Mexico is best at assembly,” she said. Manufacturing shifted to China and other countries due to high labor costs in the U.S. Technology and robotics have leveled U.S. manufacturing costs. “It clearly comes down to innovation and leveraging technology. U.S. manufacturers are strong and smart. Sometimes it just takes an extra push or, in this case, an event to force out-of-the-box thinking.”
Anderson’s latest video, Reshoring, is part of her “What’s Happening in Manufacturing & the Supply Chain series.
