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Current State of Manufacturing
The COVID-19 pandemic has underscored manufacturing’s role in providing products that are critical to health, safety, national security, and the continuity of multiple industries. It has also revealed the extent to which global supply chains are exposed to shocks and disruptions. All of this has occurred at a moment when new technologies, process innovations, and demand growth are reshaping the sector worldwide.
This policy memo focuses on one major economic argument in favor of increased infrastructure investment—that it would increase demand for American manufactured goods and, in turn, generate American manufacturing jobs. As this memo shows, more jobs will be created if policymakers take steps to reduce the yawning U.S. trade deficit that allows jobs to “leak” outside the U.S. economy as U.S. spending increases.
Smart manufacturing depends critically on information governance: rules (formal and informal) concerning the collection, flow, and analysis of information, often in digital form. To explore information governance issues in depth, the Manufacturing Policy Initiative at Indiana University hosted a roundtable event in Washington, DC, with executives from nearly 20 manufacturers. Policy experts from academia were asked to contribute to papers on specific topics including AI in manufacturing.
This report explains how digitalization is transforming manufacturing globally, detailing what exactly smart manufacturing (or “Industry 4.0”) is and examining the productivity impacts that digitalized manufacturing promises to deliver. The report examines the small- to medium-sized enterprise (SME) manufacturing support programs and policies of ten nations—Argentina, Australia, Austria, Canada, China, Germany, Japan, Korea, the United Kingdom, and the United States.