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Manufacturing Revolution - Coggle Diagram
Manufacturing Revolution
Growth has stopped
We have squeezed out every possible benefit from the current standard structure of global business
Growth has come to a halt because of this
It has been slowing over time as we maximize the productivity of the system
Eventually the system becomes outdated
Where the next growth will come from
Cheap labor is no longer cheap
Because of this we will look to bring production back home
This will save money and increase speed
Technology will cause the next overhaul to production
Robots will start to do much more jobs
Robots will also be more productive and do even complex tasks
Past Revolutions
Steam engine
Assembly line
Automation
Happens approx. every 50 years
Problems with current state of manufacturing
Most manufacturing is offshore
This has its benefits such as cheap labor
This is ultimately hurting the supply chain in the long run
Makes the speed with which products can be made much slower
Bad for the environment