Presentation on theme: "Manufacturing is a dynamic and changing industry. In this presentation, we'll explore and analyze the current state of manufacturing and its potential."— Presentation transcript:
Manufacturing is a dynamic and changing industry. In this presentation, we'll explore and analyze the current state of manufacturing and its potential future direction. To this end, several manufacturing indicators are listed below to paint a picture. These indicators were chosen to represent a current snapshot of different dimensions of the industry and its changing factors. Manufacturing in Aerospace
The Case for a National Manufacturing Strategy - U.S. manufacturing is in crisis, with almost 6 million jobs lost and 42,000 factories closed over the last decade. Even worse, we are losing know-how and ultimately control over our future. While the U.S. retains important strengths, U.S. manufacturing competitiveness is slipping rapidly. There is no reason to resign ourselves to defeat or to sugarcoat the challenges we face. We possess the tools, talent, and resources to revive manufacturing. But to do so we need a national strategy for manufacturing renewal. This is the message of the ITIF report called, “The Case for a National Manufacturing Strategy for the United States.” I will cover the 5 key areas that need to be addresses.
Talent Pressures and the Aging Workforce: Responsive Action Steps for the Manufacturing Sector The future of manufacturing will be tied to the quantity and quality of its workforce. Yet, skill shortages due to the mass retirement of older workers could define the near future of the manufacturing sector, according to a new report by the Sloan Center on Aging & Work. Top skills reportedly in short supply include: Management skills (37.4%), legal skills (33.3%), sales/marketing skills (28.2%), operations skills (24.4%), technical computer skills (22.1%), and basic literacy in writing and math (18.9%). However, despite this impending shortage, a lower percentage of manufacturers have analyzed the projected retirement rates compared to employers in other industries. This report has data that is very useful in helping manufacturers understand their overall approach to talent management and specifically how to adapt to the aging workforce and what implications it has on their future workforce.
The Five Initiatives Growth Objective is to achieve profitable growth, using four pillars of organic growth. The pillars include doing a superb job for our customers every day; superior sales and marketing organization; globalization; and robust, funded technology roadmaps for new products and services.
People From the Boardroom to the manufacturing floor, we focus on having the best people organized the right way and motivated. Employees are given opportunities to learn, grow, and develop and they are rewarded for their contributions. Our size, the industries we serve, and the breadth of our portfolio enable people to have dynamic careers, develop into leaders, and gain experiences across businesses, functions and regions.
Cash This initiative focuses on driving improvements in working capital, payables, receivables and inventory. Cash is the lifeblood of any business. As we increase cash flow, we can take advantage of opportunities to reinvest in our businesses through strategic acquisitions, technology roadmaps and stock buybacks. The positive impact on employees and shareowners alike is huge.
Productivity Productivity in manufacturing has been the key driver, continuous improvement in support of improved Productivity. We will maintain that level of performance, even as we increase our emphasis on Growth.
Answering all these questions will help firms understand and gain a perspective about the ramifications of their actions. A firm has to ascertain what the risks, costs associated with a process are and also how dependent processes will be affected before handing over a process to some outside agency. Only after a thorough analysis of these answers a firm would be confident in deciding the fate of a process. All said and done, in the end it's all about efficiencies when it comes to manufacturing. Manufacturers are moving their business wherever they can have higher efficiencies in the long run. Technology has helped manufacturers to this end a lot as it has enabled them to do what they could not think of earlier. Now they can control their operations spread far and wide across the globe and that too with great ease.
A broad application of Lean & Six Sigma tools against a construct of: Standardized work Rapid problem solving Continuous improvement Knowledge sharing Organization Development ensures sustainability through: Specific roles & responsibilities for leaders High-performance management systems Enabling structure
The 12 Behaviors Growth and Customer Focus recognizes that we need to think differently in order to grow. The customer is the cornerstone of our success. Effective employees do a superb job for customers every day in quality, delivery, value, and technology. They aggressively pursue new opportunities through superior sales and marketing, globalization and technology roadmaps supported by Design for Six Sigma.
Gets Results requires consistently meeting commitments to the business and to others. Quickly translate business requirements into actions by defining "who does what by when" to ensure plans are executed.
Leadership Impact means thinking like a leader regardless of your job, delivering on commitments and being a role model for others. All leaders demonstrate passion for their work and care about the people in the organization. Each employee must be able to: 1) conceptualize an issue; 2) develop an action plan to address the issue; and 3) execute the plan.
Technical or Functional Excellence means being capable and effective in a particular area of expertise. Employees must remain aware of advances and current thinking in their fields and look for ways to apply the latest technologies to their work.
Integrative Thinker decides and takes action by applying intuition, experience and judgment to the data available. They demonstrate an ability to assimilate various and conflicting information or opinions into a well-considered decision. They understand the implications of individual actions or recommendations on other systems, markets, processes, and functions.
Effective Communicator means providing timely and concise information to others, and using clear and thoughtful oral and written communication to influence, negotiate, and collaborate effectively. Leaders and employees need to appreciate that effective communication is about listening and being listened to but is not always about agreeing.
Intelligent Risk Taking recognizes that generating greater returns requires taking greater risks. An intelligent risk taker uses sound business judgment, and has the courage to take action where outcomes are uncertain but where potential rewards are great. Business decisions often need to be made based on incomplete information.
Self-Aware/Learner individuals recognize their behaviors and how they affect those around them. Employees must accurately assess their own strengths and weaknesses and take action to improve.
Global Mindset is viewing the business from all relevant perspectives and seeing the world in terms of integrated value chains.
Champions Change drives continuous improvement and fosters a Six Sigma mindset to make decisions that are in the best interests of customers, shareowners and the organization. It reflects a constant commitment to do things better. Champions Change ensures the long-term strength of the company regardless of personal impact.
Fosters Teamwork and Diversity defines success in terms of the whole team. Employees must understand and capitalize on the fact that Honeywell's workforce is composed of individuals who represent a great diversity of values, opinions, backgrounds, cultures and goals. Effective team leaders not only meet the expectations of their role as leaders, but they also set and meet the expectations for team members.
Improved visibility across the supply chain which leads to a better control over the processes. Timely action is aided which helps in avoiding delays and loss of reputation. Strong partnerships are forged with the suppliers & distributers because of close collaboration. Better planning. Better inventory management which leads to greater liquidity. Here's looking forward to a technology propelled futuristic manufacturing. For now, let's just say our goodbyes to the good old manufacturing!
Business Value Technology solutions like Supply chain management solutions, Inventory management solutions etc. have helped manufacturers make quick and profitable decisions in real time. It has led to a phase of technology fed manufacturing which has enabled manufacturers to manage their operations effectively.
This is where we come into picture; sophisticated technology solutions have helped numerous firms in streamlining their operations. All these technologies are enabling countless firms to manage their business in a more efficient way. In our experience we have seen such technologies providing numerous Benefits to the manufacturers, some of them are:
Enablers drives sustainable improvements in our manufacturing operations to generate exceptional performance in safety, quality, delivery, cost, and inventory management. Functional Transformation is HOS for our administrative functions—Finance, Legal, HR, IT and Purchasing—standardizing the way we work, reducing costs and improving service quality. Velocity Product Development™ strengthens our new product development process with integrated strategies, processes, tools and culture that help us bring profitable products that customers want, and are willing to pay for, to market faster
In short, the changing character of the skilled workforce will present a major challenge to aerospace OEMs and their supply chains in the years ahead. Fewer trained job candidates and multi-year order backlogs are adding to the stress; so too is the nature of defense contracts that mandate U.S. citizenship for aerospace employees in order to receive security clearance. The growing need for qualified employees will require a multi-faceted response of competitive wages and benefits for new workers, strong mentoring and job training programs, strategic outsourcing, and worker retention efforts in the years and decades ahead. The X Factor in Aerospace