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Manufacturers to Learn How to Navigate Through a Fluctuating Economy

Manufacturing is one of the most important drivers of economic growth; it’s the stimulus for everything from trade, services and jobs. As the economy shapes – favorably or adversely – a manufacturer’s success depends on how well they adapt to technological changes and prepare for the future. Companies that have already made the move to new technology integration, as well as those ready for industrial transitions, will have a chance to explore the latest manufacturing advancements and learn what’s trending during SOUTHTEC 2019, Oct. 22-24, at the Greenville Convention Center in Greenville, South Carolina.

During his keynote presentation on day two of SOUTHTEC, Alan Beaulieu, president and principal of ITR Economics, will discuss what manufacturers can and should do to increase profits through business cycle fluctuations. In his presentation titled, Successfully Navigating in a Shifting Economy,” Beaulieu will address some of the economic changes that will most affect the manufacturing industry. In the coming years, challenges such as increases in labor costs will have a noticeable impact on the value of manufacturer’s goods, and Beaulieu will share what manufacturers can do to minimize the impact of cost while hiring and retaining a skilled workforce.

Sponsored by SME and AMT – The Association For Manufacturing Technology, SOUTHTEC is the most influential manufacturing trade show in the Southeast. Manufacturing producers and leaders from Alabama, North and South Carolina, Florida, Georgia, Kentucky, Tennessee and West Virginia will converge to hear from experts and experience the latest technologies and services making waves in the industry.

“Manufacturing in the Southeast region is growing exponentially, and we want to give manufacturers in the area access to the most relevant information and latest technologies that will help strategically spark new ideas for innovation,” said Dirk von Gal, director of U.S. Events, SME. “This year’s SOUTHTEC keynote speakers will light a fire under attendees and inspire them to make significant moves to grow their businesses.”

According to a recent “Global Trade” magazine article, in the past 10 years, manufacturing grew 18% in South Carolina, the second largest jump in the Southeast. Manufacturers in the state account for nearly 17% of the state’s total output, and 11.55% of South Carolina workers are employed in the manufacturing sector.

“U.S. and global economic trends are shifting, and manufacturers face growing uncertainty,” said Beaulieu. “It’s important that leaders observe and understand these shifts and set realistic expectations for the remainder of 2019 and for 2020.”Read More