TN Chamber Event: The Transformation of Manufacturing, Session 3
Wednesday, February 16, 2022
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The Transformation of Manufacturing, Session 3 - Middle TN
Location: TCAT Smyrna/Nissan Training Facility, 663 Ken Pilkerton Drive, Smyrna, TN
The manufacturing industry in North America is undergoing its fourth evolution into a high-technology, digitalized, and data-driven industry. This Industry 4.0 period began long before the COVID-19 pandemic affected global society at all levels but has been accelerated in response to many of the challenges associated with this pandemic. In this 3 part series, we examine and explore the current manufacturing industry in North America and the challenges and opportunities it faces as adoption of Industry 4.0 thinking, tools, standards, and processes becomes more widespread.
Session 3: Achieving Industry 4.0 Organizational Success
Overview of the North American manufacturing industry in its current state in terms of three main elements pertaining to workforce dynamics, production efficiency, and inter-organizational volatility highlighting the relative stability of employment in the manufacturing industry. Estimates suggest the manufacturing industry needs to prepare for double-digit output growth within the next 10 years while simultaneously managing a projected shortfall in available, interested, and highly skilled emerging talent. There are real workforce-related challenges facing the current manufacturing industry and these challenges cannot all be addressed with the technological elements of Industry 4.0.