1、2023 manufacturingindustry outlook About the Deloitte survey To understand the outlook and perspectives of organizations across the manufacturing industry,Deloitte fielded a survey of over 100 US executives and other senior leaders in August 2022.The survey captured insights from respondents in nine

2、 specific industry segments:industrial and commercial equipment and machinery;electrical equipment,appliance,and component manufacturing;construction products and equipment;aerospace and defense manufacturing;automotive and transportation equipment;food and beverage manufacturing;heavy equipment;con

3、sumer and electronic product manufacturing;and chemicals and specialty materials manufacturing.ContentsManufacturing growth amid uncertainty 3 Trends to watch 1.Technology Investing in advanced technologies to help mitigate risk 4 2.Talent Implementing a broad range of talent management strategies t

4、o reduce voluntary exits 5 3.Supply chain Relying on time-tested mitigation strategies with enhanced tactics to achieve supply assurance 6 4.Smart factory Taking a holistic approach to smart factory initiatives to unlock new horizons 75.Sustainability Focusing on corporate social responsibility 8 Th

5、e road ahead:Industry poised for growth despite anticipated challenges 9 Lets talk 102023 manufacturing industry outlook2Manufacturing growth amid uncertaintyUS manufacturing has demonstrated continued strength in 2022,building on the momentum it gained emerging from the pandemic,and surpassing expe

6、ctations from the prior two years.1 Policy initiatives such as the Creating Helpful Incentives to Produce Semiconductors for America Act(CHIPS Act)and Inflation Reduction Act(IRA)have the potential to help sustain recovery in the manufacturing industry.Looking ahead to 2023,Deloitte projections base

7、d on Oxford Economics Global Economic Model anticipate 2.5%growth in GDP in manufacturing.2While overall demand and production capacity have hit recent highs,there are indications that the near-term outlook may not be as bright.The industry is currently experiencing concerns related to inflation and

8、 economic uncertainty.In addition,manufacturers continue to grapple with talent challenges that may limit the industrys growth momentum.Even though employment levels now stand higher than in 2008,3 the industry remains significantly short of skilled workers.4 Moreover,supply chain issues,including s

9、ourcing bottlenecks,global logistics backlogs,cost pressures,and cyberattacks,will likely remain critical challenges in 2023.As highlighted in the recent National Association of Manufacturers(NAM)survey,these disrupters have affected manufacturers optimism and business confidence,pulling the second-

10、quarter Manufacturing Outlook Index to 55,down by 4.2 points since first-quarter 2022.5Going forward,as leaders look beyond disruption and revamping their approach,they should consider five important trends for manufacturing playbooks in the year ahead:managing uncertainty;tackling workforce shortag

11、es;driving supply chain resiliency;scaling smart factory initiatives to the metaverse;and developing sustainability.2023 manufacturing industry outlook3Investing in advanced technologies to help mitigate riskManufacturers have increased their digital investment over the past few years and accelerate

12、d the adoption of emerging technologies.6 Companies with higher digital maturity have shown greater resilience,as did those that accelerated digitalization during the pandemic.7 For example,they were able to pivot faster than manufacturers with limited digital capabilities.8 Similarly,companies with

13、 higher digital implementation tend to have increased supply chain visibility and are better able to adapt to supply chain challenges.9 Continued investments in advanced manufacturing technologies can help develop the required agility.The high level of uncertainty is expected to continue over the ne

14、xt 12 to 18 months,and manufacturers digital strategies over this period are likely to be based on many of the following dynamics(figure 1):Maintain momentum:Investments in the right technologies can help manufacturers pivot quickly.For example,enhanced data and analytics capabilities can improve fo

15、recasting.Additionally,it could also accelerate the value mapping of suppliers and raw materials along with the impact of a shortage.This advanced analysis can expedite the implementation of preventive measures during uncertain periods.Protect long-term profitability:Implementing digital capabilitie

16、s across the value chain can help secure profitability,and manufacturers have multiple levers to engage when it comes to digital sophistication.The right mix of technology adoption that strengthens the core(process automation,data analytics)while also pushing the edges can improve efficiency.Broaden

17、 advanced manufacturing capabilities:Robotics and automation can enhance efficiency,whereas artificial intelligence and machine learning capabilities can provide the required edge.Increased automation is likely to drive productivity but also lead to changes in the workforce composition in the indust

18、ry.For example,some manufacturers have accelerated warehouse automation in response to pandemic-related labor shortages.10 Figure 1.Surveyed manufacturers plan to focus on a range of technologies to increase operational efficiencies over next 12 monthsSource:2023 Deloitte manufacturing outlook surve

19、y.Technology1Robotics and automation62%60%39%33%32%26%23%16%15%12%11%9%5%4%Data analyticsInternet of Things(loT)platformAdditive manufacturingCloud computingArtificial intelligence/machine learning/cognitive computingAdvanced materialsDigital twin5G connectivityAugmented/virtual realityHigh-performa

20、nce computingEdge computingQuantum technologyBlockchain2023 manufacturing industry outlook42Implementing a broad range of talent management strategies to reduce voluntary exitsTalentAddressing the tight labor market and workforce churn amid shifting talent models is expected to remain a top priority

21、 for most manufacturers in 2023.Despite a record level of new hires,job openings in the industry are still hovering near all-time highs at 800,000.11 Additionally,voluntary separations continue to outnumber layoffs and discharges,indicating substantial workforce churn.12 This prevailing workforce sh

22、ortage,elevated by supply chain limitations,is reducing operational efficiency and margins.13 Manufacturers are pursuing several approaches to strengthen their talent retention strategy(figure 2):Pay increases:Talent scarcity is compelling more manufacturers to consider raising wages.Although the in

23、dustry has historically had a higher baseline wage for production workers,competing industries such as warehousing and retail are increasing wages more quickly than manufacturers.14 Upskilling and reskilling:As the use of digital technologies proliferates across the manufacturing sector,the workforc

24、e increasingly needs advanced technical and digital skills.However,skilled workers are in short supply in the manufacturing industry.Manufacturers are likely to emphasize reskilling strategies,including continuous training to upskill the workforce,investment in startups to access new technology and

25、talent,and collaboration with academic ecosystems to access digital skills.DEI strategy:The industry is focusing on diversity,equity,and inclusion(DEI)to attract more women and racially and ethnically diverse groups to the workforce.Women currently account for less than one-third of the total manufa

26、cturing workforce,and the proportion of Black,Asian,and Latinx employees is even lower.15 Manufacturers acknowledge that greater diversity and gender parity will likely increase the available talent pool.16 Furthermore,67%of responding US job seekers stated in a recent Deloitte survey that a diverse

27、 workforce is an important factor when considering a job offer.17 Manufacturers are increasingly adding leadership that focuses on advancing their DEI maturity,from meeting representation targets to creating more inclusive environments where diverse talent can build careers.18 Flexible work arrangem

28、ents:Manufacturers are actively seeking ways to rearchitect the work,the workplace,and the workforce to adapt to the broader shifts in the overall work culture.The early success of remote work for business continuity has raised the expectations of employees and employers alike.As a hybrid work cultu

29、re begins to spread to parts of the manufacturing sector,companies are exploring ways to add flexibility across their operations.Many are also implementing new ways to attract and retain workers,such as addressing factors like well-being and flexibility,which are important to experienced workers as

30、well as to the younger generation entering the workforce.19 Figure 2.Retaining high-performing talent likely to be strategic priority for 2023;surveyed manufacturers also highlighted it as top challenge in 2022Source:2023 Deloitte manufacturing outlook survey.Top 5 challenges of respondents for mana

31、ging the production workforce75%Retaining existing talent74%Finding the right talent51%Maintaining competitive wage and benefit packages22%Providing career advancement opportunities16%Providing continuous skill development$1 in 3 surveyed executives have retaining high-performing employees as their

32、strategic priority for 20232023 manufacturing industry outlook53Relying on time-tested mitigation strategies with enhanced tactics to achieve supply assuranceSupply chainDeloittes recent supply chain research highlights that 80%of surveyed manufacturing executives have experienced a“heavy”to“very he

33、avy”impact of disruption on their supply chains over the past 12 to 18 months(figure 3).According to the Deloitte outlook survey,72%of surveyed executives believe the persistent shortage of critical materials and the ongoing supply chain disruptions present the biggest uncertainty for the industry i

34、n the coming year.Manufacturers are mitigating these risks not only with increased utilization of digital technology but also with time-tested approaches:Relationship management and supply chain illumination:Many manufacturers are working closely with suppliers as partners to navigate through the cu

35、rrent disruption.Such relationships can help them pivot effectively to alternate transport routes or sources for components.In addition,most manufacturing supply chain executives are actively engaging beyond tier1 suppliers while managing existing tier1 to develop required redundancy.20 Building red

36、undancy in the supply chain:Manufacturers are expected to continue diversifying their supplier base and adding redundancy in the coming year.Supply chain executives should closely evaluate the cost of multiple suppliers versus the benefits of increased agility and risk mitigation.For example,the ind

37、ustry may see an acceleration in original equipment manufacturers(OEMs)taking equity stakes in suppliers or acquiring them completely to develop capabilities in-house and gain more control over their supply chain.21 One automotive company recently engaged with two different suppliers to meet its nea

38、r-future production targets,whereas another manufacturer holds a long-term supply agreement with seven different suppliers across regions to ensure supply for its global production.22 Boosting local capacity:Many manufacturers have boosted local capacity by integrating their businesses across the va

39、lue chain to reduce exposure to logistics issues and transportation bottlenecks.23 In response to the current disruption,many global OEMs have committed to opening new production facilities in US locations,boosting local production capacity for parts and materials.24 The incentives in the Infrastruc

40、ture Investment and Jobs Act(IIJA),the CHIPS Act,and the IRA are expected to bolster this trend to increase US manufacturing capacity.25 Implementing digital technologies:As manufacturers actively recalibrate their supply chain exposure,many are turning to digital capabilities that can increase thei

41、r supply network visibility and improve control and coordination.Deloittes procurement officer report highlights the growing importance of innovation and digital transformation to achieve supply assurance in future disruptions.26 Figure 3.Impact of recent disruptions was substantialSource:Deloitte 2

42、022 manufacturing supply chain study.of surveyed executives experienced a heavy or very heavy impact on their supply chain by at least one disruption over the past 1218 months80%of surveyed executives agreed that these disruptions significantly affected their productivity and profits50%of surveyed e

43、xecutives agreed that the frequency of these disruptions has increased over the past decade,and the pandemic has exaggerated the impact90%2023 manufacturing industry outlook64Taking a holistic approach to smart factory initiatives to unlock new horizonsSmart factoryManufacturers will likely continue

44、 progressing toward smart factory transformations,as these initiatives drive future competitiveness.27 Many manufacturers are making investments in laying the technology foundation for their smart factories.Frontrunners enhance connectivity through the cloud,edge computing,and 5G.With the adoption o

45、f these foundational technologies,leading manufacturing companies are also likely to partner across their value chain.More than 60%of surveyed executives are partnering with specialized technology companies to further their smart manufacturing initiatives in the coming years.For example,in a demonst

46、ration of the strength of an ecosystem approach,an electronics manufacturer is partnering with a research university and a telecommunications company to develop a fully enabled private 5G production environment to test use cases for industrial facilities.28 Once they establish the digital core,manuf

47、acturers are investing in disruptive technologies such as augmented reality(AR),artificial intelligence(AI),Internet of Things(IoT),additive manufacturing,blockchain,and advanced analytics.One industrial conglomerate is using augmented technologies with digital twins for training and reskilling its

48、employees.29 In another example,an aerospace leader uses drones,cloud,and sensor technologies with AR for its quality control processes.30 Some early adopters are already experimenting with digital technologies to interact and collaborate in creating a seamless,unlimited reality experience like a me

49、taverse.Our survey highlights that one in five manufacturers is already experimenting with underlying solutions or actively developing a metaverse platform for their products and services.For example,a global automotive manufacturer is already exploring the metaverse by using a virtual factory simul

50、ating an actual production line and replicating the entire production line digitally to ensure that all processes run smoothly before operating in the physical factory.Even the technicians in its service centers use AR glasses to complete complex repairs in a virtual environment and connect with oth

51、er experts to work on the problem collaboratively using digital twins.31 As manufacturers advance to the metaverse,cybersecurity will be table stakes.Organizations must stay ahead of cyberthreats,and most are investing in their cyber infrastructure.However,the focus should be not only on cyber defen

52、se but also on the resiliency and continuity of businesses in the event of a cyberattack.Increasing monitoring efforts to check for abnormal behavior of information technology and operational technology as quickly as possible can prevent catastrophic damage.Figure 4.Primary growth strategy of survey

53、ed manufacturers for smart manufacturing initiatives in the coming yearsSource:2023 Deloitte manufacturing outlook survey.30%6%2%1%61%In-house development effortsAcquiring competitors or peersPartnering with academia(schools,universities),industry consortia,or national R&D laboratoriesOthersPartneri

54、ng with specializedtechnology companies2023 manufacturing industry outlook75Focusing on corporate social responsibilitySustainabilityThe fast-evolving environmental,social,and governance(ESG)landscape may require close monitoring in 2023 for manufacturers.Many organizations voluntarily comply with a

55、 complex network of reporting regulations,ratings,and disclosure frameworks.But regulators globally are also moving toward requiring more disclosures for nonfinancial metrics.32 Manufacturers are progressing toward their ESG commitments by making operational changes across their value chains.Managin

56、g waste:Nearly one-fourth of surveyed manufacturing executives agreed that developing better capabilities for waste management and using technologies to improve product recycling could make manufacturing operations sustainable.33 For example,a global electronics manufacturer is working toward net-ze

57、ro factory goals by adopting a multitier approach.It is investing in technologies to reduce its waste and water usage.Increasing supplier diversity:Many companies have included supplier compliance and supplier diversity programs in their overall strategies.While the pandemic and other disruptions ha

58、ve slowed progress on some of these initiatives,the longer-term focus on building these capabilities is expected to increase.Elevating smart buildings:Technology-enabled smart buildings could assist in achieving carbon neutrality.Optimization ranging from machines to production lines,and from sensor

59、-enabled heating and cooling systems to facility lighting,is driving cost savings and an option for a cleaner and more resilient power supply.Seventy percent of surveyed manufacturing executives agreed that technologies that improve energy efficiency could make manufacturing operations more sustaina

60、ble.34 One technology manufacturer,for instance,has already achieved carbon neutrality for its corporate emissions by sourcing 100%renewable electricity for its corporate facilities.35 Electrifying fleets:Energy transformation can bring sustainability to operations,and fleet electrification is often

61、 a starting point.The IRA manufacturing tax credit program and the Department of Energys programs to strengthen battery material supply chains could boost fleet electrification,including industrial fleets,which can help reduce costs and carbon emissions.36 Manufacturers looking to electrify their fl

62、eet may also take advantage of clean vehicle tax credits under the IRA provisions.37Recent years have also seen greater emphasis on achieving DEI within organizations.Some manufacturers have evolved their DEI strategy to develop employee-led resource groups that provide a forum for diverse employees

63、 and allies from varied backgrounds to express concerns and build community.38 Focusing on the social aspect can create engagement among the younger workforce,one of the most ethnically and racially diverse generations in history.39 This can provide manufacturers with another potential avenue for at

64、tracting younger workers.2023 manufacturing industry outlook8The road ahead:Industry poised for growth despite anticipated challengesThe acceleration gained in 2022 is expected to continue into 2023,though headwinds of supply challenges,labor shortages,and an uncertain economic environment will pers

65、ist.Energy price volatility,higher labor costs,and inflation worries could also affect the industry.In addition,the impact of legislation passed in 2022 will likely become more evident in the coming year.Amid these uncertainties,innovations and solutions pioneered in 2022 are expected to gain moment

66、um in 2023,potentially altering tried-and-true business practices in the pursuit of growth and productivity.In the year ahead,manufacturing companies should consider the following:Increasing the utilization of digital technology to increase supply chain visibility,productivity,and connectivity with

67、suppliers,partners,and consumers Growing focus on attracting and retaining talent through upskilling;reskilling;providing flexibility where possible;and promoting diversity,equity,and inclusion in the workplace Mitigating supply chain risk through building local capacity and moving from just-in-time

68、 sourcing to create redundancy in the supply chain Implementing smart factory initiatives to achieve targeted business goals Adapting strategies for the future of work2023 manufacturing industry outlook9Key contributorLets talkPaul WellenerVice Chair US Industrial Products&Construction Leader Deloit

69、te LLP+1 216 830 6609Kate HardinExecutive DirectorDeloitte Research Center for Energy&IndustrialsDeloitte Services LP+1 617 437 3332Kruttika Dwivedi,assistant manager,Deloitte Research Center for Energy&Industrials,Deloitte Services India Private Limited2023 manufacturing industry outlook10Endnotes1

70、.Deloitte analysis of US Bureau of Labor Statistics(BLS)and Institute for Supply Management(ISM)PMI numbers.2.Daniel Bachman,“United States economic forecast,”Deloitte Insights,September 15,2022.3.Organisation for Economic Co-operation and Development(OECD),“Employment rate,”accessed September 19,20

71、22.4.Bureau of Labor Statistics(BLS),“Job Openings and Labor Turnover Survey,”accessed September 12,2022.5.Ryan Secard,“NAM outlook survey:Manufacturers stay positive despite recession concerns,”IndustryWeek,June 23,2022.6.Statista,“Robotic process automation(RPA)market revenues worldwide from 2017

72、to 2023,”accessed September 19,2022.7.Amit Sinha et al.,Digital Supply Networks:Transform Your Supply Chain and Gain Competitive Advantage with Disruptive Technology and Reimagined Processes(New York:McGraw-Hill Education,2020).8.Paul Wellener et al.,Meeting the challenge of supply chain disruption,

73、Deloitte Insights,September 21,2022.9.Ibid.10.Allied Market Research,Logistics automation market by component,by application,by organization size,by end-use industry:Global opportunity analysis and industry forecast,20202030,April 2022.11.BLS,“Job Openings and Labor Turnover Survey.”12.Ibid.13.BLS,“

74、Producer Price Indexes,”accessed September 12,2022.14.BLS,“Occupational Employment and Wage Statistics,”accessed September 20,2022.15.BLS,“Labor Force Statistics from the Current Population Survey,”accessed August 25,2022.16.Deloitte,The equity imperative,2021,p.11.17.Ibid.18.Paul Wellener,Victor Re

75、yes,and Chad Moutray,Beyond reskilling:Manufacturings future depends on diversity,equity,and inclusion,Deloitte,2021.19.Paul Wellener et al.,Competing for talent:Recasting perceptions of manufacturing,Deloitte Insights,2022,p.16.20.Wellener et al.,Meeting the challenge of supply chain disruption.21.

76、Edward Taylor,“Tesla to acquire German battery assembly maker:source,”Reuters,October 2,2020.22.Wellener et al.,Meeting the challenge of supply chain disruption.23.Ibid.24.IndustrySelect,“New U.S.manufacturing plants announced in April 2022,”April 27,2022;IndustrySelect,“New U.S.manufacturing plants

77、 announced in October 2021,”October 27,2021;IndustrySelect,“New U.S.manufacturing plants announced in September 2021,”September 21,2021.25.Wellener et al.,Meeting the challenge of supply chain disruption.26.Jim Kilpatrick et al.,Deloitte Global 2021 Chief Procurement Officer Survey,Deloitte Insights

78、,2021.27.Rick Burke et al.,“Reshoring or localization on your mind?,”Deloitte Insights,September 16,2021.28.Ericsson,“Hitachi begins testing Ericssons 5G-powered industrial IoT solutions at its Silicon Valley research center,”press release,September 24,2020.29.Honeywell,“Honeywell introduces AR/VR s

79、imulator to train the industrial workforce and help close skills gap,”press release,February 12,2018.30.Airbus,“Airbus innovation for military aircraft inspection and mainte-nance,”May 29,2019.31.Bernard Marr,“How will manufacturing companies use the metaverse?,”Bernard Marr&Co.,May 13,2022.32.Deloi

80、tte,Sustainable manufacturing:From vision to action,2021.33.Deloitte analysis.34.Ibid.35.Apple Inc.,Environmental progress report,April 2022.36.The White House,“The Biden-Harris plan to revitalize American manufacturing and secure critical supply chains in 2022,”February 24,2022.37.Ibid.38.General M

81、otors Company,“Annual report for the fiscal year ended in December 31,2021,”accessed September 19,2022.39.Karianne Gomez,Tiffany Mawhinney,and Kimberly Betts,Welcome to Generation Z,Network of Executive Women(NEW)and Deloitte,2020.2023 manufacturing industry outlook11About this publicationThis publi

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