Significant Opportunity for Manufacturers To Export
Claremont, CA – Manufacturing and Supply Chain Expert, Lisa Anderson, MBA, CSCP, CLTD, president of LMA Consulting Group Inc., sees exports as a significant opportunity for manufacturers to grow and future proof their business.
October is Manufacturing month, a time when the spotlight shines on the industry. Manufacturers contributed $2.38 trillion to the U.S. economy. The National Assn. for Manufacturers reports that for every $1 spent in manufacturing, another $1.82 is added. “Despite reports to the contrary, manufacturing is growing and is significant. U.S. Manufacturing alone would be the 8th largest economy in the world,” Ms. Anderson adds.
Over the past 28 years, U.S.-manufactured goods exports have quadrupled. Over the next decade, 4.6 million manufacturing jobs will be needed. Latest statistics show that in 2017, the 249,962 manufacturers in the U.S. accounted for $2,244.3B (11.6%) of the total U.S. output and employed 8.5% of the U. S. workforce.
“As manufacturers work on customizing products and meeting ever-changing delivery expectations, it’s equally important to consider where the customer is located and their drivers. In today’s manufacturing world, exports are a significant opportunity for manufacturers to grow and diversify their business. In fact, statistics show that 95% of consumers are outside of the United States, and most countries see U.S. exports as highly desirable. That’s staggering and significant,” Ms. Anderson commented.
LMA Consulting Group works with manufacturers and distributors on strategy and end-to-end supply chain transformation to maximize the customer experience and enable profitable, scalable, dramatic business growth.
Culture, the end user, product use, legal requirements and other factors vary from country to country. These and other aspects must be considered to ensure a resilient supply chain. “There is tremendous opportunity to continue to expand beyond our borders. But that means that not only must Sales, Operations, New Product Development and Finance be on the same page but also international partners and advisors. And, the end goal must be the same: to maximize the customer experience in the most efficient and effective manner for growth, scale and profits,” she said.
“Despite what people hear about robotics and artificial intelligence (AI) taking over manufacturing jobs, manufacturers will continue to be a key employer. The jobs may change, but the need for talent will not,” she said. Ms. Anderson represents the Board for the Inland Empire Economic Partnership that is developing a consortium for advanced manufacturing and logistics success. She is also active with the Manufacturing Council of the Inland Empire where she heads the Innovation Awards for the Annual Summit.
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About LMA Consulting Group
Lisa Anderson is the founder and president of LMA Consulting Group, Inc., a consulting firm that specializes in manufacturing strategy and end-to-end supply chain transformation. She focuses on maximizing the customer experience and enabling profitable, scalable, dramatic business growth. For information, to sign up for her Profit Through PeopleTM Newsletter or for a copy of her book, visit LMA-ConsultingGroup.com.