“What’s Ahead for 2022?” Predicts Growth, Continued Challenges
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Remote work, digital twins, an increased focus on sustainability and continued talent shortages: these are just some of the trends affecting manufacturers that we’re likely to see in 2022 and beyond, according to a group of expert panelists on the recent Manufacturing Leadership Council’s “What’s Ahead in 2022?” Critical Issues Panel. The NAM’s MLC is a global business leadership network dedicated helping to senior executives leverage digital transformation in the manufacturing industry.
We rounded up some of the top predictions as they pertain to manufacturers.
- Manufacturing production will continue to be strong, said panelist and NAM Chief Economist Chad Moutray. Toward the end of 2021, it was 2% above February 2020, “a sign that we’re continuing to move in the right direction despite … continuing supply chain challenges.”
- S. labor-force participation is not likely to return “where it was pre-pandemic,” Moutray said. “A fair share of that is coming from retirement … [and] some people who are continuing to worry about child care and schooling.”
- The economy will grow about 4% in 2022, Moutray predicted.
- Washington will make moves to ease supply chain problems. “Congress knows they must do something to unleash the bottlenecks,” said panelist and NAM Senior Vice President of Policy and Government Relations Aric Newhouse. Legislation could involve workforce-participation incentivization in the form of training programs, as well as giving additional resources to ports.
- The vaccination and testing Emergency Temporary Standard will be “an area for continued movement” in 2022, Newhouse said.
- Technology will find ways to cope with what are likely to be ongoing workforce shortages, IDC Energy and Manufacturing Insights Group Vice President Kevin Prouty said. These will include automation and technologies to enable virtual and remote work.
- More manufacturers will begin using vision analytics, Prouty said, owing to the increased affordability of cameras and the ease with which footage can be analyzed, shared and moved in the cloud.
- Use of artificial intelligence will start to become the norm among manufacturers rather than the exception, panelist and MLC Content Director Penelope Brown said. “We’re seeing manufacturers move away from that research phase and much more toward a roadmap” for how they’re going to use AI in their plants.
- There will be greater, more widespread movement toward sustainability. In a recent MLC survey of manufacturers, 87% said they believed manufacturing had a responsibility to society to be more sustainable, Brown said.
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