Turn The Machines Back On
Peter Bonney
Founder & CEO ??? RFP & RFI automation for high-stakes proposals ?? Eliminate repetitive work - focus on winning the deal ??
1. News Bite: US Manufacturing is... Back?
I've been very interested in the recent near-shoring trend, because I remember how it all played out the last time near-shoring was a hot topic leading up to the financial crisis: it was completely undone by the Great Recession.
This time there are a lot of signs suggesting that it's real. The latest: a scarcity of workers. CNN reported that US manufacturing companies are struggling with hiring to keep pace with surging demand for their products.
So... case closed, right?
Not so fast, unfortunately. Buried in that same CNN article is a caveat: "The nearly 13 million workers employed in US factories make up?the industry’s largest workforce since the Great Recession caused employment in the sector to plunge." So even with the current surge, we still haven't reached the domestic manufacturing employment levels we saw as recently as 2007.
Moreover, just as in 2007-8, global economic developments may blunt the resurgence. As reported in the WSJ, a strong US dollar is making non-US manufacturing cheaper by comparison, curbing demand for US-made goods.
My main note of caution on the near-shoring trend has been and will continue to be that it may turn out to have all been about cost all along. With bottom lines being squeezed on both sides of the P&L right now, will CEOs and CFOs walk the walk on the lessons we all just learned about supply chain risks? Or will the pressure to cut costs - event at the expense of greater risk - win again, just like in 2008?
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2. Cool Tool: Monica
Confession: I'm terrible at remembering names and personal details of people I meet. In my professional life I can lean on a CRM to help track that kind of information. But what about personal life?
That's where Monica comes in. It's an open source personal relationship management tool. Think of it like a digital Rolodex on steroids - you can track all of the obvious details on your acquaintances (name, phone, email, birthday, etc.) but also record interactions ("met them at so-and-so's party") and relationships with other people in your digital Rolodex. So e.g. you can have entries for both members of a couple, with links between them.
It's really cool, and very useful for tracking details you might otherwise forget about your not-so-close personal relationships. The hosted version is free to try for up to 10 contacts, and $90/year for unlimited contacts. But if you're technically inclined you can run it yourself for free!
3. Words of Wisdom
"For every 100 jobs openings in the sector we only have 60 people who are looking." - Jay Timmons, CEO, National Association of Manufacturers