Grant Thornton report explores perceptions of manufacturing

Manufacturers in Chicago reflect local and national trends.

By ·

Grant Thornton has released its latest analysis of perceptions of innovation among U.S. manufacturers following its Manufacturing Innovation report.

Grant Thornton analysts are further exploring these perceptions in Atlanta, Chicago, Dallas and North and South Carolina, and recently finalized its Chicago findings.

Highlights from the report:
● Chicago manufacturers are more than twice as likely (55%) than manufacturers in Dallas and Atlanta (23% and 21%, respectively) to anticipate significant changes to their business models over the next three years. Nationwide, 41% of manufacturers anticipate significant changes.
● Fifty-eight percent of Chicago manufacturers—higher than the national average—view technology-driven disruption as an opportunity as opposed to a business threat, and more than one-third believe they are better than their peers at exploiting new technologies.
● The Internet of things, or the network connectivity of everyday objects, and robotics/automation are among the key technologies Chicago manufacturers believe will affect their future operations.
● Chicago-area manufacturers view supply chain disruption as their top risk, ahead of market factors and cybersecurity/data risks.


Source: Grant Thornton

According to Grant Thornton, Britain’s vote to leave the European Union (EU) in late June (Brexit) has resulted in increased uncertainty and lower anticipated growth rates that will force manufacturers to confront the question of where to allocate foreign investments. An overarching global effect may be the renegotiation of trade agreements for manufacturers that trade with or conduct other activities in the EU. The referendum may also pressure currency exchange rates. That said, firms that invest in innovation will attract customers and continue to grow, allowing them to realize an adequate return on their investment.

Click here for more about Grant Thornton’s take on the impact of Brexit on U.S. manufacturers.

Subscribe to Modern Materials Handling Magazine!

Subscribe today. It's FREE!
Find out what the world’s most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today!

Article Topics

Automation · Economy · Grant Thornton · · All Topics
Latest Whitepaper
The Overlooked Competitive Advantage: Connected Teams
57% of surveyed manufacturers believe they could reduce downtime by 10-30% by unifying their workgroup communications. What does a minute of downtime cost you?
Download Today!
From the January 2018 Modern Materials Handling Issue
PFS built one of the largest and most automated AS/RS freezers in the world in Washington state. Next up is a new design for automation. Automated Storage/ Automated Retrieval System, Cold Storage.
Lift Truck Series Part 1: Lift truck technology connects pickers to productivity
Breaking Through On Yard Visibility
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Emerging Technologies for Your Distribution Center
Come get an insider's view of the latest technologies for inside your Distribution Center. You'll learn which technologies are being piloted, which are having success and moving from concept to implementation and into production on the maturity scale, and what's coming on the horizon.
Register Today!
Trinchero Family Estates: Pallet handling in the vineyard
The second-largest family-owned wine company in the world turns to automated pallet handling and...
System Report: Rocky Brands Sees the Light
Confronting an aging materials handling system and new channels of business with new customer...

Top 20 industrial lift truck suppliers, 2017
The top lift truck suppliers list is changing with industry acquisitions causing a dramatic...
Lodge Manufacturing: Distribution Cast in Iron
In a new facility, iPhones and a new WMS allowed cookware manufacturer Lodge to double its business...