Consul general of Japan in Chicago to visit Wisconsin
The Grassroots Caravan Tour, an initiative between the Consulate-General of Japan and Japan External Trade Organization Chicago, will be making its first stop in Wisconsin with the consul general of Japan in Chicago, Naoki Ito, on August 15 and 16. Ito said in Wisconsin there are 82 Japanese business facilities with more than 7,100 jobs. According to the Consulate-General of Japan, there are 1,400 Japanese companies in the 10 Midwest states.
Wisconsin Economic Development Corporation: Consul general of Japan sets "grassroots caravan" to Wisconsin
Naoki Ito, the consul general of Japan in Chicago, will spend two days in Wisconsin highlighting the important contributions of Japanese-owned businesses to communities here. Consul General Ito is traveling with the Grassroots Caravan, an initiative to connect with local communities where Japanese companies have invested. The Grassroots Caravan was created two years ago this September as a joint venture between the Consulate-General of Japan and Japan External Trade Organization (JETRO) Chicago.
Waupaca Foundry says 'unique' supply chain fuels growth
Waupaca Foundry has put the Great Recession well into its rear view mirror as the plant here that makes iron castings for parts used in cars and trucks now employs a five-year high of 560 people. One company advantage executives cite is the use of a just-in-time supply chain that they say is unique in their industry and a cost-saver for the business.
The Lost Art of Building Supplier Relationships
Over the years, I've contributed about 90 articles to IndustryWeek. One of them " It Takes Two to Tango ," from 2015, dealt with the fact that in supply chain negotiations, there is middle ground if both sides are willing to compromise. The headline, suggested by my then-editor, was a bit of a stretch for me; I didn't understand how it related to the content of the article. But now I know what he was getting at. Tango dancers must coordinate and collaborate to the nth degree to successfully execute the dance.
Transparency, Training Key to Attracting, Keeping Workers
Recently, a manufacturing executive told me that companies must be more transparent in telling future hires exactly what the job entails. That includes hours, working conditions and expectations. He's lost too many people who didn't realize that putting in a lot of hours was just part of the job. Dan Johnston, co-founder of WorkStep, would whole-heartedly agree. After seeing the struggle, first-hand as a manager of a large third-party logistics company, he set out to make some changes.
Reshoring Resulted in 145,000 Jobs During 2018
Reshoring and foreign direct investment in the U.S. increased 38% during 2018, the highest level in history according to the Reshoring Initiative, the agency formed to advance the effects of "reshoring." The term describes the phenomenon of manufacturers relocating manufacturing activity and services, or sourcing, to the U.S. from overseas. For 2018, the combination of reshoring and FDI represented 145,000 jobs, the second highest annual rate of job increases on record. The total job increases credited to reshoring, including upward revisions of 36,000 jobs in prior years, is over 757,000 since the 2010 low-point for domestic manufacturing employment.
Trump Lifts Tariffs on Mexico, Canada
Bogged down in a sprawling trade dispute with U.S. rival China, President Donald Trump took steps Friday to ease tensions with America's allies — lifting import taxes on Canadian and Mexican steel and aluminum and delaying auto tariffs that would have hurt Japan and Europe. By removing the metals tariffs on Canada and Mexico, Trump cleared a key roadblock to a North American trade pact his team negotiated last year. As part of Friday's arrangement, the Canadians and Mexicans agreed to scrap retaliatory tariffs they had imposed on U.S. goods.
China Trade Conflict Brewing for 20 Yrs
The U.S.-China trade blowup was a long time coming. And it won't be easily resolved, not even if U.S. and Chinese negotiators reach a truce in the next few weeks that reassures jittery financial markets. Tensions between the world's two biggest economies intensified over the last week. The Trump administration more than doubled tariffs on $200 billion in Chinese imports and spelled out plans to target the $300 billion worth that aren't already facing 25% taxes. The escalation covers everything from sneakers to toasters to billiard balls.
How Manufacturers are Tackling the Skills Gap
Manufacturing executives have been losing sleep over the worker shortage for a few years. The situation only continues to accelerate, however. Today, the worker deficit has begun hitting companies squarely in the bottom line --during the first quarter of 2019 more than 25% manufacturers had to turn down new business opportunities due to a lack of workers, according to a report from the National Association of Manufacturers (NAM).
The Trade War Is a Farce
As the World Economic Forum (WEF) annual meeting continues in Davos, Switzerland, this week, discussions around global trade, the future of advanced manufacturing, and the Fourth Industrial Revolution are at an all-time high. In particular, the popular news media has been making a daily diet talking about the U.S. trade war with China. Unfortunately, they are missing the real story: the potentially profound effects of reshoring on U.S. manufacturing and on the widening skills gap.
President Signs New Trade Agreement with Mexico And Canada To Replace NAFTA
President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto signed the new U.S. Mexico Canada Agreement — or USMCA — in Buenos Aires on Nov. 30. The agreement provides increased requirements for automotive components to be produced in North America and follows more than a year of talks to update the 24-year-old North American Free Trade Agreement (NAFTA), which supports about $1.2 trillion in annual trade among the three countries in the USMCA.
2.4 Million Skilled Jobs Projected to Go Unfilled in Manufacturing
As growth in the U.S. economy continues and manufacturers create more and more jobs in a thriving sector, the industry's pre-existing workforce crisis could get even worse according to a new 2018 skills gap study, released today by Deloitte and The Manufacturing Institute — the social impact arm of the National Association of Manufacturers (NAM). The widening manufacturing skills gap is expected to grow from about 488,000 jobs left open today to as many as 2.4 million manufacturing jobs going unfilled between this year and 2028 (compared with 2 million jobs between 2015 and 2025 per our earlier study).
Help Wanted, and Lots of It, on the Modern Factory Floor
As the U.S. economy continues its long recovery from the Great Recession, one bright spot has been a sector that, to listen to the cynics, you might think had packed up and fled the country. I'm talking about manufacturing. The truth is, U.S. manufacturing is a growth business. Since the end of the recession in 2009, manufacturing employment in this country has risen by nearly 1.3 million workers, to a total of more than 12.7 million jobs. And a quarter-million of those manufacturing jobs were added in the last 12 months alone, according to the latest government employment report.
Full Speed Ahead: Manufacturing Continues to Grow
Economic activity in the manufacturing sector expanded again in August, say the nation's supply executives in the latest Manufacturing ISM Report On Business. The August PMI registered 61.3 percent, an increase of 3.2 percentage points from the July reading of 58.1 percent. PMI is an indicator of the economic health of the manufacturing sector; it's based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
Trade war hits scrap yards in Michigan in ways you wouldn't expect
It's hard to imagine that a trade war could turn into a scrap yard fight in Detroit. Yet China is the largest consumer of scrap commodities. And Michigan is a major exporter, generating multimillions of dollars in business when it comes to recycling metals. So when China slapped retaliatory tariffs on aluminum waste and scrap in April, recycling operations, including two deeply-rooted, family-owned businesses in Michigan, found themselves on the front lines of the trade war.