TITLE: Making Value: The Future of Manufacturing, Technology and Work
ABSTRACT:
The scope of manufacturing has expanded beyond the factory floor. In addition to “making things,” leading companies are focused on “making value.” This entails providing compelling and consistently positive customer experiences by integrating innovation, design, engineering and production throughout the entire value chain. Such experiences have proven to be key to building brand equity and realizing superior financial returns.
This presentation frames the future of manufacturing in terms of “making value.” It first views manufacturing as an integrated system that turns resources into compelling customer experiences. It then looks at how emerging technology (e.g., math-based design and engineering, intelligent machine-to-machine systems, additive manufacturing, nano-technology, the materials “genome”, advanced robotics, and business analytics) is combining with new business models (e.g., selling integrated products and services) to transform how companies compete to make value.
The presentation concludes by summarizing the findings and recommendations of a recently released National Academy of Engineering report focused on “Making Value for America.” This report emphasizes that
- Emerging technologies, increased globalization and novel business models are creating new opportunities for U.S. manufacturing
- Demand in developing countries is projected to grow from $12 trillion today to $30 trillion by 2025…. a major opportunity for U.S. exports
- Unfortunately, these developments are also creating challenges for many middle class workers
- Middle class wages and employment opportunities have declined
- Almost 50 percent of U.S. jobs could be disrupted by automation in the coming decades