Ranked in the top 5 Industrial Markets in the U.S., Northeast Ohio has one of the highest concentrations of manufacturing companies with almost 10,000 facilities (NEOisGreat 06′).
Bowden Manufacturing, located in Willoughby, Ohio, is a mainstay on this list! With growth in the Aerospace, Defense, and Oil & Gas industries coupled with technological innovations predicted over the next decade; the future is looking bright for Bowden MFG. and Northeast Ohio Manufacturing!
Here is a list of 5 Critical Points in U.S. Manufacturing from Industry Week.
- Strong end-market demand is driving companies to produce closer to their customer base.
- Proximity to the customer base allows for greater responsiveness, better positioning in the markets being served and more accurate demand forecasts.
- Managing supply chain risk
- Manufacturing disruptions that occur overseas can be easier to manage by shortening the supply chain.
- Narrowing differences in energy and labor costs.
- The shift from labor-intensive to technology-intensive manufacturing processes has made the U.S. more competitive and diminished the benefit of outsourcing to lower-cost countries.
- The importance of innovation, differentiation and speed to market
- American companies have a competitive advantage when it comes to producing technologically advanced, differentiated goods that require precision manufacturing and rigorous quality control.
- The importance of business environment and regional attractiveness
- The U.S. has stronger laws and institutions relative to developing economies which provides companies greater intellectual property protection and higher safety standards.