Manufacturing activity in the US surged to record highs in recent months, but American factories are facing a major problem: They can’t find enough people to work. According to a study published by Deloitte and The Manufacturing Institute, as many as 2.1 million manufacturing jobs will go unfilled through 2030 and could ultimately cost the US economy up to $1 trillion.
Smart planning practices are now more critical than ever to ensure businesses are targeting markets with the ideal labor metrics. Choosing the wrong location could amplify the negative impacts of the labor shortage due to a smaller pool of qualified workers.
In a recent Industry Today article, HPM’s Tracy Richter, Vice President of Planning Services, shares the four “legs” of information manufacturers must consider in order to make informed and strategic decisions. Location, he says, is just one leg of the four-legged stool of smart facilities planning.
“A skilled planner must have a full understanding of the combined elements of decision-making data and how these data points relate, influence each other and combine with the strategic goals to properly weigh these effects in advance,” Richter says.
To read the complete article and Richter’s four considerations for effective facility planning, click the button below.
HPM’s experts have decades of experience using demographic analysis to develop and implement strategic facility plans for our partners. Let’s work together on a customized approach.