Canadian manufacturing leaders are generally reporting a positive, albeit cautious, view of their prospects for the 2017 despite economic growth in 2016 being lower than expected.
Recent world events such as the U.S. election and uncertain near-future trade agreements, a weak Canadian dollar and falling oil prices and global economic instability have caused a level of apprehension mixed with cautious optimism for the future of Canadian manufacturing when it comes to short and long term growth potential. Business leaders also face on-going concerns about growth, productivity and risk, and new challenges such as the Industrial Internet of Things (IIoT) and increasing cyber security threats.
The annual Manufacturers’ Outlook report, produced by PLANT Magazine in partnership with sponsors SYSPRO Canada, Grant Thornton LLP, and Machines Italia with the Italian Trade Commission, highlights leading Canadian manufacturing executives’ business practices for the year, including outcomes and impacts and their opinions and insights into the future of the Canadian manufacturing industry. The report also contains data from a national survey of more than 500 senior manufacturing executives and key insights from a follow-on roundtable discussion by twelve manufacturing executives, industry analysts, and providers of services.
Highlights from the report include:
- Insights into the changing world of manufacturing, including opportunities and challenges to business innovation and growth
- Leading strategies and tactics for growth such as breaking into new markets, developing new lines of business, and cultivating top talent
- An overview of the key areas of business manufacturing leaders need to pay attention to in order to ensure that growth plans are sustainable and scalable