Manufacturing continues to be a major source of economic growth in the UK, with total product sales reaching £429.8 billion in 2022, up from £401.5 billion in 2021 according to the ONS.
One of the key ways that any manufacturer can increase output and ultimately productivity is by understanding the main challenges facing the industry, along with the overall trends and changes to be aware of. As a result, the business is more likely to be adaptive so that it can remain competitive.
We work directly with manufacturers here at Metreel through the supply of our material handling, fall protection and powerfeed equipment.
These are some of the top things to expect from the manufacturing industry in 2024 and beyond.
Supply Chain Challenges
Supply chains have faced continued disruption since the pandemic, with further disruptions since Brexit and the war in Ukraine. As a result, many manufacturers are seeking more local alternatives for production where possible to reduce disruption and shorten lead times.
In general, there has been a big push for mitigating disruptions to the supply chain through building resilience. Techniques can involve diversifying suppliers, increasing inventory buffers and investing in digital technology to provide more real-time visibility regarding potential and ongoing disruptions.
Labour & Skills Shortages
Many industries are facing labour shortages. However, the problem is particularly pertinent for manufacturing, as the average rate of turnover now stands at 39.9% according to EduMe. High turnover rates are problematic for several reasons, not least in terms of higher recruitment and onboarding costs. In addition, lost skills in the workforce due to employees constantly leaving can also have a negative impact on the business.
With these issues in mind, manufacturers can ensure they don’t join these statistics by engaging with their employees to create a positive working environment. In particular, creating a workplace where employees feel heard and valued, while also investing in training and development opportunities. By taking proactive steps to attract and retain talent, manufacturing businesses can maximise productivity while also retaining a competitive advantage compared with businesses that are struggling to retain staff.
Automation And Artificial Intelligence (AI)
In recent years, automation along with AI has radically transformed how we all live and work, and developments in the manufacturing industry are no exception.
Material handling products such as workstation cranes, track systems and monorails have long been used to improve safety and efficiency when moving goods and materials around a manufacturing facility.
However, other AI advancements to look out for in 2024 relate to predictive maintenance, quality control, supply chain management, product design and energy management.
How Can We Help Your Manufacturing Business Succeed?
Whether your business is experiencing any of the above challenges or others which are affecting productivity, safety or output — material handling solutions from Metreel may be able to help.
Our company is based in Derbyshire and we work closely with manufacturers from across the UK through the supply of workstation cranes, gantries, hoists, track systems and more.
If you’re new to Metreel, we have a product brochure which is available to download.
You can also contact us directly by calling us on 0115 932 7010 or emailing us at [email protected]