Over the last few years, the manufacturing industry has been defined by inflation, supply chain challenges and labour shortages. Unfortunately, with many industries bracing for a recession, the outlook for manufacturing in 2023 isn’t much different. Justin Geach, Master Fluid Solutions' Global Director of Marketing explains.
In a September 2022 Deloitte survey, participants named the rise in shipping costs, product issues from suppliers, logistics challenges and parts shortages as their top four concerns. Many respondents saw ongoing supply chain challenges cutting into profit by as much as 13%. And, manufacturing in 2023 looks set for similar problems. Manufacturers cannot hope to…
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