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Federal and Industry Collaboration
The COVID-19 global crisis continues to disrupt manufacturing and global supply chains with severe consequences for society, businesses, consumers and the global economy. This has raised new and unprecedented questions on the level of resilience of global value chains and the overall approach to manufacturing. The World Economic Forum, in collaboration with Kearney, brought together C-level executives from different industry sectors to identify best responses to the current COVID-19 crisis.
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.