Like many sectors, manufacturing is an industry built on process. While the existence of a product may seem straightforward, a multitude of components and procedures define the journey from a slew of parts to a finished outcome.
Regardless of what's being produced, it's imperative that good communication is maintained throughout the process. And while U.S. manufacturers have made great strides in recent years, there's still significant room for improvement.
Here, seven stats that signify the importance of clear communication on the assembly line:
1. Communication problems result in more than one-quarter of project delays. (Forrester) (Tweet this)
2. How many people suffer quarterly from the aforementioned plight? 78 percent of employees. (Forrester) (Tweet this)
3. Manufacturers contribute $2.09 trillion to the United States economy, 12 percent of the nation's GDP. Even on its own, manufacturing would be the ninth-largest economy in the world. Imagine how much more it could bring in if its communications were optimized. (NAM) (Tweet this)
4. The productivity of non-farm businesses went down by 1.9 percent year-over-year in the first quarter of 2015. (U.S. Bureau of Labor Statistics) (Tweet this)
5. As if this weren't bad enough, unit labor costs have increased by 1.1 percent over the last year and five percent in the last quarter alone. (U.S. Bureau of Labor Statistics) (Tweet this)
6. For the first time in 16 years, the number of U.S. manufacturing plants is increasing—meaning that in addition to new economic opportunities, there's significant need for an improvement in supply chain communications. (President's Council of Economic Advisors) (Tweet this)
7. 70 percent of organizations improve their revenue by producing goods faster—all with robust internal communications. (Forrester) (Tweet this)