April 11, 2012
In an op-ed in The Detroit News, Mark Perry, a professor of econo...
A recent BDO USA Report revealed that 100 percent of U.S. manufacturers cite securing an efficient supply chain as a main challenge to improving our economy and increasing capital spending. This is up from 83 percent in 2013, which indicates U.S. manufacturers increasingly consider current supply chain challenges a serious risk.
According to the report, “Manufacturers are increasingly concerned about forecasting errors which could lead to backlogs or shortages, as well as quality issues they may encounter with suppliers.” While the U.S. manufacturing industry is expected to grow in 2014, Howard Sosoff, the Manufacturing & Distribution practice leader at BDO USA, LLP, predicts that “with greater opportunity comes greater challenges. Manufacturers will face intense competition this year as they work to attract new orders and workers and expand their capabilities.”
As the foundation of the U.S. supply chain, the mining industry provides the raw materials necessary to propel American industries forward – from energy and manufacturing to defense and technology. The mining sector – which supports 1.2 million jobs nationwide – serves as an example of potential opportunities that lie ahead for U.S. economic growth. The mining sector is one of a handful of industries that creates jobs at a fairly consistent rate and continues to create production growth. U.S. mining is emerging as an important partner in stimulating economic recovery. However, our permitting process is preventing the mining industry from meeting its fullest potential. Legislative and regulatory reforms could contribute to the continued expansion of the mining industry and have the potential to end current delays in production and distribution. The more that the mining industry is able to function at its highest potential, the more the U.S. manufacturing industry can secure a stable supply and labor chain.