ReleaseWire Connect

Earlier this summer, Google announced a new manufacturing-specific platform that is designed to automate product inspections and help to reduce defects. This is a prime example of how manufacturing recruitment and technology development hiring is helping to change the way that production is handled today. The Visual Inspection AI that has been created by Google is a cloud platform that will fulfill two key functions: identifying defects and examining product assembly. Defects can be a big problem for this industry and are estimated to reduce overall sales revenue by up to 20%. Human error during the manufacturing process can be the cause of up to 23% of all downtime in manufacturing so automation such as this, which can also be far more reliable than the human eye, could be essential to improving both efficiency and the bottom line. Manufacturing recruitment and technology development hiring is crucial to establishing the kind of innovation that could change the face of the sector completely.

Supply chains have been severely disrupted in many different ways over the past 12 months, thanks to the impact of COVID-19. Now, the biggest US trade gateway with Asia is struggling with traffic with the longest waits for berth space in major ports that we have seen in some time. There are currently 37 ships anchored outside the twin ports of Los Angeles and Long Beach, more than there have been at any time in the past six months. It's almost double the size of the queue that existed in mid-July and is coming close to the all-time record. One of the reasons for the significant increase in traffic is disruption to transport routes caused by partial closures of a major Chinese port due to a COVID-19 outbreak there. As a result of the queues the average wait for berth space is now 6.2 days - although this is longer than the figures for June it has yet to reach the peak of 8 days that was set in April.

Longer lead times have been a consistent issue over the past year or so. While these longer lead times and supplier deliveries operating on a much slower scale are not unique to individual industries, electronic supplies have been particularly badly affected. In July 2021, the Institute for Supply Management's Manufacturing Business Survey Committee highlighted how lead times are now at record highs across multiple industries and that this is likely to be a continuous problem going forward. In May this year, lead times for production materials came in at around 85 days. By June this had risen to 88, which is the highest number that has been recorded since monitoring first began. The increase is very stark in an area such as electronics - one respondent to the recent survey identified that lead times for components had shot up from 16 weeks to more than 62 weeks. This is a significant shift and one that even an investment in procurement recruitment may not produce an easy solution to.

Payments and digital currency company Circle has had a successful recent history and this has led to speculation about whether it is about to go public. Now, this has been confirmed via the announcement of a deal with special purpose acquisition company Concord Acquisition Corp which is due to happen later this year. The deal is worth $4.5 billion and will create the opportunity for Circle to make its public move. The motivation for signing the deal was described by Circle CEO Jeremy Allaire as "an incredible opportunity to grow rapidly and grow around the world." Circle is now an eight-year-old start-up and has expanded in strength over the years. It has been responsible for co-creating USDC, which is the US dollar-backed stablecoin USD coin. While the deal announcement is clearly cause for celebration it also comes amid rumors that there is likely to be more regulation in the stablecoin market in the near future.

Sustainability has been a keen focus for many organizations over the past year, not just in terms of internal systems and processes but also the way that supply chain partners operate. Some of the biggest brands in the world have been taking steps towards more environmentally sound practices, something that is currently being reflected in planning and supply chain recruitment. Walmart, one of the biggest names in global retail, has been a part of this sustainability push, including via Flipkart. Walmart acquired a majority stake in Flipkart in 2018 and the business is expected to grow at four times the rate of overall retail in India. It was recently announced that Flipkart had eliminated single use plastic from its Indian fulfilment centers by swapping these out for more sustainable options, such as paper bags. With its goal achieved, Flipkart is now focusing on minimizing the use of single-use plastics among its seller partners.

Electric Vehicles (EV) are gathering a huge amount of momentum and the drive is today coming from consumers as much as trendsetters and fans of cutting-edge tech. This has generated a huge increase in the amount of manufacturing being devoted to EVs with new projects being announced all the time across the USA. One of the most recent is SK Siltron's US unit, which is planning to invest $300 million in Michigan, at a time when US car makers are funneling tens of billions of dollars into the EV market. The injection of investment by SK Siltron's US unit will focus on expanding the company's silicon carbide wafer manufacturing. It is forecast to generate around 150 jobs in Michigan in the EV production market in the state. It's not just consumers and the auto world that are increasingly focusing on EVs as a solution to future problems. The Biden Administration has also made this a priority, seeking out $174 billion-worth of funding to grow charging networks and create more EV subsidies. EVs are going to have a key role to play in manufacturing recruitment and technology development going forward.

According to a new report from Massachusetts Institute of Technology's Center for Transportation and Logistics and the Council of Supply Chain Management Professionals, most companies managed to maintain their supply-chain sustainability goals despite the COVID-19 pandemic. The study found that 2020 objectives that were focused on sustainability as well as issues of supplier diversity and worker welfare remained a priority even as the pandemic began to spread. Not only that but around 80% of the directors who took part in the survey said that the pandemic didn't affect commitments to supply chain sustainability, in fact in some cases this created even more focus on it. This is an achievement in particular given the disruption that resulted from lockdowns and economic closures that put pressure on businesses up and down the supply chain. Other social goals also became much more of a priority, including equality, inclusion and employee safety. This shift is already affecting logistics and supply chain recruitment in 2021.

Parking has always been a major factor in planning and cities across the USA have increasingly focused on ensuring that there is sufficient parking space to accommodate residents and visitors' cars. However, after a year of COVID-19 lockdowns and restrictions, one unexpected development to come from the pandemic is a totally new attitude to parking and the way that city centers are being used.

Greener procurement is a hot topic right now, especially as 61% of brands say they have seen an increase in customer demand for sustainability. According to a report by McKinsey, 90% of the sustainability impact that a business makes happens in the supply chain. That's why greener procurement has the potential to make a big difference, not just to the impact that brands have on sustainability but also when it comes to meeting customer expectations too.

Wearable technology is a market that is fast expanding in the USA, as innovators and manufacturers start to further explore the possibilities that are offered by smart electronic devices that are worn on, or close to, the skin. However, that's not where this type of technology has to end, as one company is now pioneering wearables that also deliver healing.