This doesn ’ t even take into consideration global economies and political conflicts which have an oversized effect on inventory and transportation costs .
So , if we look to the future , what do we see for our companies and how do they flex to ensure they can have the parts , materials , labor and capacity to achieve their goals ? In order to thrive in this challenging environment , our companies should be - and are - investing in the resiliency and future growth of their supply chain . How are they doing this ? Four ways :
» Modernizing their manufacturing capabilities through investments in new technologies and innovation
» Considering and implementing strategies that enable flexibility in the workforce environment » Supply chain visibility and resilience » Taking advantage of export opportunities with the Department of Commerce to enhance their global footprint
MODERNIZING MANUFACTURING CAPABILITIES
The aerospace industry ’ s increased focus on shortening lead times , improving cycle times , and increasing factory efficiency has pushed many suppliers to embrace smart factory initiatives . A smart factory approach can help suppliers to adapt more quickly to demand fluctuations , supply chain adjustments , and changes in other parts of the supply chain . It connects the individual processes within and beyond production sites , from engineering to manufacturing and the aftermarket . Further , it can help to gain critical inventory visibility to ensure efficient production and faster design to delivery .
With new and emerging technologies , companies are expected to be more agile with production capabilities
PNAA ADVANCE / 2024 to navigate future disruptions . The following advanced technologies may enable supply chain companies to address operational challenges more effectively :
» Digital manufacturing » Big Data ( structured , unstructured and semistructured ) » Artificial intelligence / machine learning ( AI / ML ) » Digital twins » Internet of Things ( IoT )
These technologies can enable the industry to automate production lines ( e . g ., smart factory ), develop more profound insights into the extended supply chains and improve predictive maintenance for delivering aftermarket services .
IMPLEMENTING STRATEGIES TO ENABLE
FLEXIBILITY IN THE WORKFORCE
Washington State continues to invest in our comprehensive portfolio of workforce development programs , sites and degrees which has led to multi-generational aerospace talent . A number of our state community and technical colleges currently offer aerospace-related training programs . Our universities and national labs are also critical players in driving innovation and new discoveries for the next generation of air travel . And we have a high net migration of educated workers , with a significant percentage of our population at the prime working age .
Finding and retaining top talent with an aging labor force , high turnover rates , and increased competition for talent capable of handling emerging , innovative equipment and technologies can be challenging , especially when an efficient and flexible scaling of production relies on the availability and flexibility of the workforce . continued on next page
FEBRUARY | MARCH 2024 ISSUE NO . 37 73