Some people hear this and start doubting my ability to do simple arithmetic. Their perspective is that automation kills manufacturing jobs and hence it is to be avoided if we want to boost employment numbers in the manufacturing sector.
- Design/Engineering Services: Manufacturing companies work closely with customers to help them design and refine their products to make sure that products are optimized for manufacturing.
- Financing/Accounting: Running a factory requires actively managing the cash flow.
- Sales/Marketing: Drumming up business for the factory requires a competent sales and marketing team.
- Purchasing/Procurement: A functioning factory needs to purchase raw materials, tools, and supplies.
- IT Services: A modern factory cannot run without IT services.
- Infrastructure Maintenance: In order to function, a factory requires access to infrastructure. This infrastructure needs to be maintained.
- Shipping and Transportation: The raw material and finished products need to go in and out of the factory.
- Equipment Maintenance and Service: The equipment in the factory needs to be maintained and serviced to keep it functional.
- Utilities: The factory needs access to utilities such as energy and water.
- Building/Construction: Factory buildings need to be maintained and updated.
- Insurance: Factories need tailored insurance products to manage risks.
- IP/Legal Services: Factories need legal services to protect their IP.
I would like to thank Scott Macdonald, CEO, Maryland Thermoform Corporation for his insightful feedback on this topic.