The Wisconsin Center for Manufacturing & Productivity (WCMP) just released a new report on growth opportunities for manufacturers in anticipation of the fourth annual Wisconsin Manufacturing Report. This new release uses data from three report cycles to uncover four critical growth opportunities for manufacturers across the state. These insights bolster the WCMP’s ongoing efforts to improve the competitiveness and resilience of Wisconsin’s manufacturing sector.
Manufacturers can drive growth and enhance their long-term success by:
- Reassessing Cost Strategies: A narrow focus on cost reduction can lead to missed growth opportunities. Manufacturers are encouraged to prioritize innovation and strategic planning over cost efficiencies to ensure sustainable growth.
- Creative Employee Engagement: Innovative approaches to attracting and retaining talent, such as flexible work arrangements and cultivating a strong employment brand, can lead to a more engaged and stable workforce.
- Embracing Automation: Automation is essential for boosting productivity, especially for smaller manufacturers. Incremental automation projects can create early wins and build long-term success.
- Strengthening Cybersecurity: As manufacturers increasingly adopt new technologies, cybersecurity becomes even more critical. Robust cybersecurity measures protect against sophisticated threats.
“Manufacturers who lean into these growth opportunities and embrace change will be well-positioned to thrive in 2024 and beyond,” said Buckley Brinkman, Executive Director/CEO of WCMP. “This release is not just a reflection of the past years’ data, but a forward-looking tool designed to help manufacturers navigate the challenges and seize the opportunities ahead.”
WCMP’s 2024 Wisconsin Manufacturing Report will be presented in detail at three public events in October:
- Brookfield – October 2, 2024
- Green Bay – October 3, 2024
- Menomonie (UW-Stout) – October 23, 2024 [more information & registration available soon!]
These events will provide an opportunity for manufacturing leaders, policymakers, educators, and service providers to discuss the report’s findings, ask questions, and network with peers.