The past year has presented several manufacturing challenges, from supply chain issues to labor shortages. At Manor Tool & Manufacturing company, we continue to provide a range of metal stamping services throughout these unpredictable times. From deep draw stamping, custom tooling, and fabrication to machining, design aid, and more, we can provide the services you need despite recent industry challenges and metal stamping trends.
What’s Going on With the Supply Chain?
Although the economy is beginning to heal from the COVID-19 pandemic, it has caused one major issue: disruption to the global supply chain. Worldwide lockdowns resulted in a decrease in demand; however, now that these lockdowns have lifted, demand for metal stamped components has increased tremendously. Because of the damage caused to the supply chain, manufacturers and distributors may face supply and production challenges.
Unfortunately, the supply chain may get worse before it gets better. With supply chain bottlenecks and widespread labor shortages, certain products and services may not be able to circulate normally until the summer of 2022.
The manufacturing industry has taken perhaps one of the biggest production and financial hits of all due to lagging shipments of parts and a dependence on international companies for different components. Supply chain issues have also led to higher prices and supply shortages within the metal market. Although metal prices are expected to recede in the near future, metal supply constraints may linger into 2022, posing challenges for metal stamping providers.
The Labor Shortage in Manufacturing
The manufacturing industry has experienced challenges with getting back up to speed. Although manufacturing activity has seen a recent increase in pace, labor shortages linger, inhibiting further capital and commercial growth.
Although the supply of experienced engineers is sufficient for manufacturing, manufacturing companies are short on labor and those who can work on the floor of facilities. Employers are having a hard time finding workers with the necessary skills, making it difficult to fill the many positions left open from the pandemic.
Despite this grim reality, manufacturers have managed to stay afloat, although it hasn’t been easy. This begs the question of whether a solution for the labor gap is in sight for the near future.
Can We Bridge the Labor Gap in Manufacturing?
With an abundance of open manufacturing positions, an essential question remains: Where can companies find employees to fill the gap?
One possible to solution is for manufacturing companies to partner with local schools and youth programs to scan potential talent. The younger generations are highly impressionable individuals whose interests in production and manufacturing may be peaked at an early stage.
Companies looking to ease their labor issues may be able to find consistent pipelines of talent in their local communities. From kids with engineering skills to youth program participants looking for hands-on employment opportunities, this grassroots effort may be a viable solution to the persisting labor challenge.
There are other small efforts manufacturing companies can make to potentially incentivize employment. Some of these steps may include keeping up with federal regulations, introducing technology, evaluating training, increasing workforce diversity, and providing optimal job benefits to employees.
The Future of Manufacturing
There is no doubt that various industries have suffered the impacts of COVID-19. Whether it’s permanent closure, financial uncertainties, or the need for adaptability, businesses have had to analyze the issue at hand and get creative with ways to offset the consequences.
Manor Tool & Manufacturing Company has pushed through the hard times to offer high-quality metal stamping services despite labor and supply chain challenges. To learn more about our services and metal stamping capabilities, browse our eBooks & Resource Library and sign up for our newsletter for consistent updates. For more information about how we mitigate supply chain issues to keep up with demand, contact us today.