Why the Manufacturing Industry is Poised For Growth
There are many people who believe that manufacturing is dying in the United States. However, there is actually a lot of evidence suggesting that the industry is in a great position in many areas. As the cost of technology continues to decline, there are many experts who believe that manufacturing rebounds in the future. In many nations around the world, the labor costs continue to increase. This gives the United States an opportunity to invest in technology in order to reduce the cost of manufacturing products. In the future, many experts expect a rebound in this industry.
Robotics in Manufacturing
Over the past few years, the use of robotics in manufacturing increased dramatically. Many people believe this is a bad sign for workers in this country. However, this is actually a great sign for the industry as a whole. Robotics allow companies to produce goods at a lower cost. This means the entire industry is more competitive with other nations. Although the industry here cannot compete on labor costs, technology drives down the total production time and cost for products.
In the future, many experts believe that manufacturing jobs going to other places will come back to the United States. Many companies source products from nations around the world. However, there are a lot of logistical issues with bringing in products from other countries. There are freight rates and the products are a lower quality as well. If the manufacturing industry in the United States invests in technology, the total cost to produce goods goes down dramatically.