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.
To Read the Full Article from Industry Week, CLICK HERE