Manufacturing Challenges and Opportunities: Hear Our Insights

Two members of our manufacturing team were recently interviewed on a business video podcast about current challenges and opportunities in the industry. Learn what Jennifer Clement and Stephen Fuller had to say.

Current challenges in manufacturing

Current challenges manufacturers are facing include softening demand, labor, and inventory. Labor includes both recruiting and retention challenges. 

With the softening demand, many businesses are looking at ways to increase revenues and reduce expenses.

“We’re seeing a renewed effort and emphasis on profitability,” Clement said. “And what can we do in the short term to look at our cost structure.”

Current opportunities in manufacturing

While the challenges are growing, there are still many opportunities to pursue. New technologies like AI can improve efficiency and predictive capabilities as well as attracting and retaining workers.

There also are many government incentives available to help manufacturers with job retention and growth, training, and tax benefits surrounding R&D and capital investments.

“There’s a number of things that manufacturers specifically can utilize,” Fuller said.

Hear more manufacturing insights

Hear more from CLA’s manufacturing team about the current state of the industry on CBIA’s BizCast.

How CLA can help with manufacturing challenges

Our manufacturing team has deep industry experience and insights — helping manufacturers turn challenges into opportunities. Learn how in our recent blog Manufacturing Outlook for Year End 2024: Turn Intelligence into Opportunity and reach out for assistance.