Making Value for America Embracing the Future of Manufacturing, Technology, and Work: Summary (2015) / Chapter Skim
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MAKING VALUE FOR AMERICA
MAKING VALUE FOR AMERICA
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SUMMARY MAKING VALUE FOR AMERICA Embracing the Future of Manufacturing, Technology, and Work
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In conducting the study, the NAE committee reviewed economic statistics, gathered extensive information from experts and published research, and sought input from nearly 100 research managers, directors of manufacturing operations, entrepreneurs, policymakers, and others. The committee's report, Making Value for America, explains its findings and the actions it recommends.
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Communities, governments, and educational institutions also have roles to play. By improving the skills of current and future workers, strengthening local innovation networks, and encouraging the long-term investments that lead to new products and businesses, they can help ensure that the United States thrives amid global economic changes and remains a leading environment for innovation.
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And it is an important concept for Americans to keep in mind today, as the economy faces a number of disruptive changes. Advances in technology and changing business practices in manufacturing and across the economy are continuing to reshape the labor market in dramatic ways.
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The individuals, companies, and countries that understand these changes and act on them -- responding to the challenges they present and taking advantage of the opportunities they offer -- will be the ones best able to prosper in the 21st century. If the United States wants to retain and attract facilities along the manufacturing value chain, as well as the jobs that come with them, it needs to ensure it has an environment that supports continuous development of capacity for innovation, manufacturing, and services across the lifecycle of products.
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The value chain for a they wanted. The designers created value by single product may span many locations and connecting users with their music in a way that economic sectors and involve work by multiple was almost primal.
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ties are likely to migrate abroad. If the United States wants to retain and attract facilities along the manufacturing value chain, it needs to ensure that it has an environment that supports continuous development of its innovation and manufacturing capabilities as well as its ability to offer lifecycle services for products.
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In the automotive industry, for example, the software and information content incorporated into vehicles -- such as global positioning systems, vehicle-to-vehicle communications, and automated parking -- has greatly expanded to improve performance and provide additional services to customers. In the pharmaceutical industry there is great opportunity to provide apps and services to help patients take their medications correctly.
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The devices integrate hardware with software, but their real value arises from the data they collect. The data help users track their progress toward fitness goals, the quality of their nightly sleep, and the effectiveness of their diet and nutritional plans.
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In a sense, the state had been Throughout the 1970s and 1980s, Kodak increased preparing for this transition since the 1950s, when it its focus on film and either exited or failed to enter established Research Triangle Park to foster other areas that could have helped it adapt to the coming crash of the film market. As digital photography continued to rise, the company experimented with products to augment its film business, but nothing developed into a major market.
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According to the Bureau of Labor Statistics, total manufacturing employment in the United States dropped from approximately 19 million in 1980 to 11.5 million in 2010. The overall employment decline during the past three decades is due in part to jobs being shipped overseas and in part to increasing efficiency that allows fewer workers to produce more.
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Unless these workers advance their skills, they are likely to see lower wages and declining job prospects. likely to continue as advances in robotics and software enable machines to perform more complex tasks.
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Only 30 percent of college students in the lowest income quartile complete their degrees -- less than half the completion rate of the average student. Diversity.
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ADOPT BUSINESS BEST PRACTICES Individual businesses can create value by coordinating their value chains and optimizing their operations to improve innovation, productivity, and speed to market. Businesses should examine their business models to search for missed opportunities to lever age distributed tools and coordinate manufacturing and product lifecycle services.
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STRENGTHEN LOCAL INNOVATION NETWORKS The United States needs to encourage new business creation to stimulate innovation and job creation. Local innovation networks are needed across the nation to foster the creation of new businesses and to connect entrepreneurs and new businesses to the individuals, investors, tools, and institutions in their region and around the world that they need to grow.
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Federal information technology and computing programs should facilitate access to a world leading infrastructure for high-performance computing, which can drive improvements across the value chain and enable entirely new types of products and services. IMPROVE WAYS TO MONITOR AND SUPPORT MANUFACTURING VALUE CHAINS Federal programs and statistics should be modernized to account for the complex relationships among manufacturing, information, and services across value chains.
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LEE [NAE] Fellow Emeritus, IBM Corporation Senior Vice President, Genentech Principal, NMD Consulting LLC Head, Global Technology Development, Roche ASHOK AGRAWAL ARUN MAJUMDAR [NAE]
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SUMMARY MAKING VALUE FOR AMERICA Embracing the Future of Manufacturing, Technology, and Work
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