Deloitte’s latest supply chain research reveals that the manufacturing industry has been profoundly impacted by disruptions, with 80% of surveyed executives experiencing a "heavy" to "very heavy" impact over the past 12 to 18 months. In the face of ongoing challenges, 72% of executives express concerns about the persistent shortage of critical materials and the continued supply chain disruptions, projecting them to be the most significant uncertainties for the industry in the upcoming year. In addition, trade disputes between the US and China are also causing uncertainty for organizations with a global footprint, prompting manufacturers to assess the influence of local economic conditions, applicable regulations, reshoring possibilities, supply chain costs, and talent availability in their respective markets. This panel discussion will bring together esteemed industry leaders to share their insights and experiences in tackling supply chain challenges as we approach 2024. Attendees will gain valuable knowledge on how to navigate the evolving manufacturing landscape and develop robust strategies for supply chain management in the future.

Artificial intelligence is transforming the nature of work in nearly every field, from film production to legal writing. In the last year, new technologies have made AI dramatically more accessible for analyzing and generating text, images, and videos, and as a result adoption of AI tools in everyday work has surged.

The manufacturing sector was an early adopter of the previous generation of AI: machine learning technologies that could sift through images and structured data to find anomalies and spot trends. Machine learning-based tools are now widely used across the manufacturing world in areas like quality control, inventory management, and maintenance planning.

The latest advancements in generative AI appear to be focused on creative fields, but a deeper look reveals highly impactful applications for engineers and manufacturing managers. Generative AI technology can consolidate knowledge from both global resources and from internal experience, organize it, and make it available to front-line workers in plain language. In doing so, it can break down silos within organizations, spot trends that would otherwise go unnoticed, give engineers access to specialized knowledge, and help engineering teams approach problems quickly and creatively.

This roundtable will explore applications for the latest generation of AI in manufacturing, at every stage of the product development process from initial design through mass production.

Questions to answer in this roundtable include:

• How can manufacturers leverage the latest generation of AI technology- commonly seen as applicable in only creative fields- to improve product design and manufacturing outcomes?
• What training and preparation is required for individual workers and for teams in order to make the most of new AI tools?
• What data is required in order to use AI tools in manufacturing organizations?
• Are there security risks associated with AI, and how can they be mitigated?
• How can AI technologies be integrated into the product development process, from the initial design phase to mass production? What benefits can this integration bring?
• How do you envision the future of AI in manufacturing, and what emerging trends or applications are you most excited about?

The manufacturing industry remains an essential part of the economy, but it's no secret that it's currently facing a considerable talent shortage. Companies are continually searching for skilled workers to fill vacant positions, facing numerous challenges that have hindered their recruiting efforts. Deloitte predicts that by 2030, 2.1 million manufacturing jobs could go unfilled, and a Workday survey found that nearly half of manufacturing leaders today are reporting worker turnover that’s higher than the historical average.

Adding pressure to this talent crunch is that factories hit a 14-year production high point in September 2022, according to the Federal Reserve. Although business growth opportunities exist, 45% of manufacturers have had to turn down opportunities due to a lack of workers, according to Deloitte. In addition, manufacturing companies face tough competition for skilled workers from industries like healthcare, energy, and technology. Manufacturing workers are also the most likely to leave for higher pay or for a career change within another industry as they seek more flexibility in their work lives. (Workday).

The pandemic’s effects on supply chains and labor underscored the need for increased innovation and digitalization in the manufacturing industry. While digitalization offers exciting opportunities, it also poses the risk of exacerbating skills gaps. Manufacturers need workers with experience in the industry and proficiency in physical tools like welding and machining, while also understanding transformative digital technologies such as AI, automation, analytics, and robotics. Upskilling is becoming increasingly crucial as a solution to both the industry's high turnover rate and the demands of the new advanced manufacturing age.

The workforce of tomorrow will look, learn and work differently, forcing organizations to reimagine their talent strategies to meet employees’ evolving expectations around everything from hybrid working, L&D and upskilling, to better pay and greater flexibility. (Workday)

Questions to answer in this roundtable include:

• How can manufacturing companies attract and retain skilled workers in the face of competition from other industries?
• Workers in the manufacturing industry are more likely to leave for higher pay or career changes to seek better work-life flexibility. How can manufacturers address these factors and create a work environment that encourages employee loyalty and long-term commitment?
• How can manufacturing companies invest in upskilling and reskilling their existing workforce to meet changing industry demands?
• What role does L&D play in addressing the skills gap in manufacturing?
• How can diversity and inclusion initiatives in manufacturing help attract a broader range of talent and contribute to filling the skills gap?
• What role can automation and advanced manufacturing technologies play in both exacerbating and alleviating the skills gap in the industry?

Sustainability has emerged as a critical focus in the manufacturing industry, driven by the increasing awareness of the environmental and societal impacts of industrial activities. Manufacturers are now taking proactive measures to minimize their ecological footprint through various sustainable practices. These efforts encompass product lifecycle management, e-waste management, and the adoption of greener manufacturing techniques. (Powers)

Moreover, organizations are actively embracing renewable energy sources like solar, wind, and hydro-power to reduce their carbon emissions. This not only contributes to the preservation of the environment, but also brings long-term cost savings by lowering energy bills and mitigating exposure to fluctuating fossil fuel prices. Companies are also focusing on the reduction of pollution and incorporating recycling practices into their operations.

The fast-evolving environmental, social, and governance (ESG) landscape may also require close monitoring in the coming years for manufacturing organizations. Many organizations voluntarily comply with a complex network of reporting regulations, ratings, and disclosure frameworks, but regulators globally are also moving toward requiring more disclosures for nonfinancial metrics. Manufacturers are progressing toward their ESG commitments by making operational changes across their value chains. Efforts by manufacturers to become more sustainable not only safeguard the planet and society, but also foster goodwill among consumers who prioritize eco-friendly products and contribute to a brighter, greener future for all.

Questions to answer in this roundtable include:

• How can manufacturers strike a balance between adopting sustainable practices and maintaining their profitability and competitiveness in the market?
• How can manufacturers encourage consumer behavior to support sustainable products?
• How do varying regulatory environments impact manufacturers' sustainability efforts, and what are the implications for global supply chains?
• Collaboration and partnerships among manufacturers, suppliers, and other stakeholders are essential for a sustainable future. How can companies foster these collaborations and create a shared vision for sustainability?
• As technologies evolve, how can manufacturers leverage advancements like Industry 4.0, AI, and IoT to further enhance their sustainable practices and efficiency?
• Beyond environmental aspects, how can manufacturers incorporate social sustainability into their operations, such as fair labor practices, diversity and inclusion initiatives, and community engagement?

Join us for a discussion on how supporting diversity can help foster innovation and inclusion in manufacturing companies.

The total workforce includes both direct employees and contract labor. New ways of working and changing skill needs have likely changed the work and workers in your company. Assessing the work and which roles are best suited to do it is the foundation of building the future workforce and investing in upskilling the right workers in the right areas at the right time.