Is there a special ingredient that keeps manufacturers in the U.S. on top?
There is and it is technology.
A report recently released by McKinsey and Company discusses the opportunities created when new innovations and technologies are both developed and utilized by manufacturers. Successfully leveraging technology is the difference-maker in a manufacturers’ ability to compete globally. But, they need policies in their home countries to support it. The report says countries that “excel in delivering a competitive ecosystem to sustain talent and innovation are more likely to succeed” in growing their manufacturing base.
NAM-member Verizon posted a blog yesterday on the report. They cite the report’s conclusion that not only does technology play a vital role in manufacturing but manufacturers also drive communications and information services company to innovative. It is a synergistic relationship that is bearing fruit now and is continuing to evolve.
A master chef needs all the tools in his kitchen to make a gourmet meal. If one ingredient is missing the dish could be a disaster. The NAM is committed to ensuring the secret sauce for manufacturers – technology and innovation – remains a key ingredient in our growth recipe.
Brian Raymond is director of technology and domestic economic policy at the National Association of Manufacturers