Positive performance of U.S. manufacturing benefits other sectors
The resurgence of U.S. manufacturing has helped to reverse decades of decline for the sector, along with benefiting other industries as jobs and money begin to pour back into the country from Asia.
A recent graphic outlined how the recovery has occurred over the past several years, but certain states have seen greater growth in the sector than others. Pennsylvania, for instance, lost a number of jobs from the early 1970s to the mid 2000s, but the past year has seen an increase of 4,000 manufacturing positions for the state.
The gains made in areas across the country have also led to increased revenues for suppliers and other manufacturing-related industries. The Los Angeles Times reported that a new white paper from Boston Company Asset Management noted that smaller operations may benefit from the industry boom more than large-scale corporations.
"Our view is that the best opportunities lie elsewhere in the U.S. economy," the white paper noted, specifically identifying the potential "investment opportunities in small and midsize U.S.-based component suppliers, transportation companies [and] raw material producers."
The white paper outlines how American manufacturing, and within the sector a new business strategy, has benefited from a return by many companies to the U.S. from Asia. This has opened the door for many domestic trucking companies and suppliers to grow alongside the firms that manufacture the goods.
While things are currently going well for U.S. manufacturers, with months of expansion to back up the claims by many that the sector is in the midst of a renaissance in the country, an adjustment of strategy may have to occur to continue the growth.
According to a release, Manufacturing Executive, a global network for executives in the sector, announced its Critical Issues Agenda for 2012-2013.
The issues range from the potential changes to the workforce that may occur in the coming year, to the shift in leadership trends toward more organization, innovation and sustainability in operations.
"The agenda reflects a set of timely and urgent business and leadership issues that will have a major impact on how manufacturers of all sizes, and in all industry sectors, will do business in the year ahead," said David Brousell, the vice president for Manufacturing Executive. "The agenda will bind the community in common purpose in finding answers to today's most pressing issues and uncovering tomorrow's most promising opportunities."