What do manufacturing facilities have to do with vaccine production and distribution? Expanding the coverage of vaccines globally is a critical goal, and expanding vaccine production simply wouldn't be possible without the help of manufacturing facilities. Let's take a look at key ways in which manufacturing is contributing to vaccine production and distribution in the United States. Onshoring Effects on Vaccine Production and Distribution The COVID-19 crisis has put a spotlight on the need to begin onshoring drug manufacturing back in the United States. The pandemic has played a large role in alerting Americans to the importance of shifting away from heavy dependence on other countries like India and China for active pharmaceutical ingredients (APIs), medical devices, and finished pharmaceutical products. With COVID-19 vaccine … [Read more...] about How Manufacturing is Saving Vaccine Production in the United States
COVID-19 is the economic Black Swan event of the year (if not the decade) that no one expected. But how the US government responds to it from a policy standpoint will have as great an impact on the health of domestic manufacturing as the responses businesses take. For both policy makers and executives, navigating these volatile and uncertain times may be a week-to-week challenge; or it could last months or quarters. No one knows yet. In this month’s Publisher’s Page, we first share some of the highlights that NAM (National Association of Manufacturers) provided in a recent policy statement on COVID-19. Then we provide our own tips which we are advising our manufacturing clients on in terms of managing uncertainty and volatility in their own businesses. NAM divides their policy and business recommendations into five groups. The … [Read more...] about Manufacturing and COVID-19: A Survival Guide
We recently did a webinar with approximately 75 manufacturers. And we asked attendees, who mostly came from the procurement, operations and supply chain functions of their companies, what is the most pressing business issue that your company faces with regard to the pandemic. Choices included: supply continuity, price volatility, logistics concerns and cash flow. Among this group, over 50% cited supply continuity as their biggest concern, followed by price volatility at 23%. What does this tell us about the current market, and more important what does it tell us about the future of manufacturing in the aftermath of the pandemic? We can read into it in numerous ways, but for us, what stands out is that manufacturers across different sectors will need to revisit global supply chains. Today, what is closing businesses is not just a … [Read more...] about Should Coronavirus Cause Us to Rethink Globalization?
While most people are not familiar with the details of what has been known as the “gig” or freelancer economy, chances are, however that you’re taking advantage of it. For example, if you took an Uber out to dinner last weekend to enjoy that extra glass of wine, then you took advantage of this new, non-employee universe. Uber is not alone in changing how we consume and employ temporary labor (for minutes, hours, days or longer). Like Uber, technology firms such as Wonolo connect pre-qualified and vetted workers (e.g., background check, drug screening) with general labor, warehouse operations, delivery/logistics and other opportunities for “on-demand” work. Wonolo is one of hundreds of online platforms and apps that serve business-to-business needs for matching work requirements with either a general or targeted labor pool, often … [Read more...] about Contractors and Freelancers Represent Both Opportunity and a Potential Compliance Risk for Manufacturers
Over dinner with two of our friends on Saturday night — one, the head of IT and digital for a manufacturer in Chicago, the other a doctor — we somehow got onto the subject of digital twins. And no, we’re not talking about some type of online replica or “bot” that mirrors the intelligence or better behavioral elements of a real person. The concept of a digital twin is to have an actual, digital version of a real-world actual object – that reports on and represents the activity of the part, component, finished product or asset (e.g., stamping press) that it represents. Wikipedia defines a digital twin as a “a digital replica of physical assets (physical twin), processes, people, places, systems and devices that can be used for various purposes. The digital representation provides both the elements and the dynamics of how an Internet of … [Read more...] about Digital Twins in Manufacturing: Producing Data, Not Just Finished Parts or Products