As manufacturers start their strategic planning for 2024, they should pay attention to labor, economic climate, cybersecurity, and customers satisfaction:
Labor and digital development — Focus on employee morale, engagement, loyalty, pay structures, talent pipelines, recruiting metrics, automation, and incentives.
Economic and regulatory climate — Build models, diversify customer base, educate employees, perform compliance reviews, and build relationships with regulatory bodies.
Cybersecurity — Train employees, conduct assessments, practice good cybersecurity hygiene, secure physical plant, and verify insurance coverage.
Customer satisfaction — Have a succession plan, meet customer expectations, explore green initiatives, and implement a capital expenditure budget for automation.
Learn more in our 2024 manufacturing outlook.