Manufacturing - Canada -February 2022 and March 2022.pptx
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Manufacturing sales increased for the fifth consecutive month, up 4.2% to $67.7 billion in February on higher sales in 14 of 21 industries, led by the motor vehicle (+25.0%), food (+5.3%), petroleum and coal (+6.7%), and wood (+8.5%) industries. Meanwhile, sales of computer and electronic products decrease the most, down 7.9% to $1.2 billion in February. Total manufacturing sales rose 19.5% on a year-over-year basis in February. Source - https://www150.statcan.gc.ca/n1/daily-quotidien/220414/dq220414a-eng.htm
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Manufacturing - Canada -February 2022 and March 2022.pptx
- 1. Manufacturing – Canada Paul Young CPA CGA April 14, 2022
- 2. Paul Young - Bio • CPA, CGA (1996) • Academia (PF1, FA4, FN2, MU1. and MS2) • SME – Customer Success Management • SME – Risk Management • SME – Close, Consolidate and Reporting • SME – Public Policy • SME – Emerging Technology • SME – Business Process Change • SME – Financial Solutions • SME – Macro/Micro Indicators • SME – Supply Chain Management • SME – Data, AI, Security, and Platform • SME – Internal Controls and Auditing Contact information email: Paul_Young_CGA@hotmail.com LinkedIn: https://www.linkedin.com/in/paul-young-055632b/ SlideShare - https://www.slideshare.net/paulyoungcga Twitter: https://twitter.com/paulyoungcpa Youtube - https://www.youtube.com/user/youngercga1968/videos
- 3. 3 Agenda • PMI Index – Canada • Commodity • AG Equipment • Automotive and other KPIs • Blog – Manufacturing Strategy • Blog – Automation and Manufacturing • Blog – Reshoring • Blog – Supply Chain • Blog – Automation / Innovation • Summary
- 4. 4 PMI – Canada Source - https://tradingeconomics.com/canada/manufacturing-pmi
- 5. North American Equipment Sales Source - https://www.aem.org/Market-Data/ US-Month-Ag-Report -3-2022.pdf CAN-Month-Ag-Repo rt-3-2022.pdf
- 9. 9 Manufacturing Sales – Canada Source - https://www150.statcan.gc.ca/n1/daily-quotidien/220414/dq220414a-eng.htm
- 10. 10 Manufacturing Sales – Canada Source - https://www150.statcan.gc.ca/n1/daily-quotidien/220414/dq220414a-eng.htm
- 11. 11 Manufacturing Sales – Canada Source - https://www150.statcan.gc.ca/n1/daily-quotidien/220414/dq220414a-eng.htm
- 12. 12 Manufacturing Sales – Feb/22 vs Oct/15
- 13. 13 Developing a new Manufacturing Strategy Supporters of American manufacturing have been crying for a national manufacturing strategy for many years. They know that if the U.S. does not have a plan with measurable objectives, nothing will change, and we will not re-industrialize America. The first compelling reason to develop a plan is that our competitors have manufacturing plans and strategies that have allowed them to successfully export to the U.S. In fact, China’s “Made in China 2025” plan spells out exactly which industries and technologies they want to dominate in the future. Why can’t we develop a plan? Second, the Bureau of Labor Statistics shows that 38 manufacturing industries are declining in terms of establishments and employment. We need a strategy to stop the erosion of our manufacturing base and specify which industries are critical and need to be saved. Third, we need to prevent the loss of high value-added manufacturing sectors like the advanced technology industries. Source - https://www.industryweek.com/the-economy/public-policy/article/21159910/america-needs-a-manufacturing- strategy?utm_source=IY+IW+Daily+Headlines+- +Morning&utm_medium=email&utm_campaign=CPS210329052&o_eid=7930I4506489J2B&rdx.ident%5Bpull%5D=omeda%7C7930I450 6489J2B&oly_enc_id=7930I4506489J2B It is not the just the United States that needs to revisit their manufacturing strategy. Canada and other countries need to focus on how best to manage the supply chain as part of mitigating risks related to geopolitical events - https://www.slideshare.net/paulyoungcga/how-to-better-manage-your-supply-chain
- 14. 14 Blog – Transitioning to Automation – Manufacturing The manufacturing industry is getting the automated treatment. New advances in robotics and artificial intelligence are changing the business for good as managers and CEOs look for ways to reduce their costs without sacrificing speed or accuracy. From faster shipping to near-perfect order accuracy and less downtime, automation can help you reach so many of your goals. According to a recent survey of automated warehouses, 76 percent of respondents said they were more likely to boost inventory accuracy to 99 percent or higher, 36 percent more likely to have reduced labor costs of an average of three percent per year and 40 percent more likely to consistently ship within one day of an order’s placement. Automation will change the face of the warehousing and manufacturing business in more ways than one. Here are four companies changing the way we work: • ABB • Siemens AG • Emerson Electric • Schneider Electric I have written many blogs on data, AI, security, and Platform as it relates to manufacturing and supply chain:- Manufacturing - https://www.linkedin.com/pulse/blog-5-manufacturing-industry-trends-2021-paul-young/?published=t
- 15. 15 Blog - Manufacturing excellence through data and analytics with these four initiatives https://www.linkedin.com/pulse/blog-manufacturing-excellence-through-data-analytics-paul- young/?published=t The world of manufacturing has undergone massive changes since the start of the industrial revolution. Technological improvements have been the catalyst that has transformed simple mechanization into cyber physical machines. This expanse, known as the fourth industrial revolution (or Industry 4.0), has given rise to the Industrial Internet of Things (IIoT) – increasing connectivity and improving efficiency, all through data.
- 16. 16 Blog – Reshoring Blog - 83% of North American Manufacturers Are Likely to Re-shore Their Supply Chains in 2021 According to the latest 2021 Thomas State of North American Manufacturing Report, 83% of manufacturers are planning to add North American suppliers to their supply chains within a year, a significant increase from 54% in March 2020. Source - https://www.thomasnet.com/insights/83-of-north-american-manufacturers-are-likely-to-reshore-their-supply-chains-in- 2021-report/?ecms_id=eb8ad19e-e115-43c6-bcd1- d154ecbbc5df&ecms_short=ART5121&doc_type=ted_article&sponsored=&acct=&parent_id=fc88208e-3b14-4c57-b051- 8c38b5d8281c&utm_content=featuredstory&position=1&linktype=title&channel=email&campaign_type=thomas_industry_updat e&campaign_name=tiu210602&utm_campaign=tiu210602&utm_medium=email&utm_source=thomas_industry_update&tinid=2 21763045 Here is my link - https://www.linkedin.com/pulse/blog-83-north-american-manufacturers-likely-re-shore-paul-young/?published=t
- 17. 17 Blog - Manufacturing Automation: Technology, automation key to Canadian supply chain survival Trade wars and nationalism, artificial intelligence and automation all have put pressure on global supply chains. Continuing to add uncertainty to the mix: the proliferation of misinformation, increasing populism, and a resulting volatile market. https://www.canadianmanufacturing.com/features/manufacturing-automation-technology-automation-key-to- canadian-supply-chain-survival/ My work: https://www.slideshare.net/paulyoungcga/manufacturing-canada-june-2021 •
- 18. 18 Blog – Top 10 AI Innovations for Manufacturing – Canada and the World The manufacturing industry is the largest sector using artificial intelligence for efficient production workflow and real-time market insights. According to projections, the size of the manufacturing market using AI will be $4,798 million by 2026. The current stage of manufacturing industry evolution, Industry 4.0, is based on Fourth Industrial Revolution (4IR) technologies, including machine learning, Internet of Things (IoT), automation, and augmented reality. 1. AI-enabled quality assurance 2. Predictive equipment maintenance 3. Automated inventory management 4. Collaborative robots 5. AI-enabled supply chain management 6. Generative design 7. Digital twin 8. AI-powered customer service 9. Big data management 10. AI cybersecurity Source - https://www.canadianmanufacturing.com/features/10-ai-innovations-impacting-the-manufacturing-industry/ Manufacturing is about to head into a new era that will see more innovation including more agility of companies to build resilient supply chains to support the current and future customer’s demands. My work - https://www.slideshare.net/paulyoungcga/canada-what-is-next-for-manufacturing
- 19. 19 Summary • All levels of government need to refocus policies to better support domestic supply chains • Automation in manufacturing will continue to evolve - Blog – Micro factories, not Giga factories, Will Build It Back Better - https://www.linkedin.com/pulse/blog-micro-factories-giga-build-back-better-paul- young/?published=t • Improving sourcing of products through use of data and AI Blog - Q1 Sourcing Trends Reveal Cautiously Optimistic Shift in Industrial Priorities; Steel, PCB Searches Increasing - https://www.linkedin.com/pulse/blog-q1-sourcing-trends-reveal- cautiously-optimistic-paul-young/?published=t - This is another great article by Thomas.net on the supply chain. I would encourage many of you to read as it will help you target solutions that can better support supply chain management. Manufacturing - Feb 2022 - Canada - 20221404.pdf M an u f act u r in g sales in cr eased f o r t h e f if t h co n secu t ive m o n t h , u p 4.2% t o $67.7 b illio n in F eb r u ar y o n h ig h er sales in 14 o f 21 in d u st r ies, led b y t h e m o t o r veh icle (+25.0% ), f o o d (+5.3% ), p et r o leu m an d co al (+6.7% ), an d w o o d (+8.5% ) in d u st r ies. M ean w h ile, sales o f co m p u t er an d elect r o n ic p r o d u ct s d ecr ease t h e m o st , d o w n 7.9% t o $1.2 b illio n in F eb r u ar y. To t al m an u f act u r in g sales r o se 19.5% o n a year -o ver -year b asis in F eb r u ar y. Source - https://www150.statcan.gc.ca/n1/daily-quotidien/220414/dq220414a-eng.htm Blog – Canada – Manufacturing Sector – Analysis and Commentary Canada's Ivey PMI shows activity expanding at record speed.pdf 2022 FEDERAL BUDGET MANUFACTURERS WELCOME MEASURES TO STIMULATE INNOVATION AND INVESTMENT AND STRENGTHEN SUPPLY CHAINS.pdf Chaotic Trading In Energy, Metals And Food Spills Into Real World Mint.pdf MAC cheers Canadian government's $3 billion budget commitment to mining - MINING.COM.pdf Supporting small businesses and creating good jobs.pdf 3D Printing Startups in Canada Tracxn.pdf LME zinc holds near 5-week high on supply risks Financial Post.pdf Considering security risks from third parties in the supply chain.pdf Editorial Solving the Truck Driver Shortage is an Investment in Canada Saskatchewan Trucking Association.pdf Canada's post-pandemic labour market shakeup.pdf Robotics and automation.pdf Summary: Source 1. PMI – Canada - https://ca.news.yahoo.com/canadas-ivey-pmi-shows-activity-142401340.html 2. Commodity Prices - https://www.livemint.com/market/commodities/chaotic-trading-in-energy- metals-and-food-spills-into-real-world-11649852587655.html 3. Advanced Materials - https://www.mining.com/mac-cheers-canadian-governments-3-8b- budget-commitment-to-mining/ 4. Small businesses - https://www.newswire.ca/news-releases/supporting-small-businesses-and- creating-good-jobs-824379479.html 5. 3D printing https://tracxn.com/explore/3D-Printing-Startups-in-Canada 6. Zinc - https://financialpost.com/pmn/business-pmn/lme-zinc-holds-near-5-week-high-on- supply-risks