S2.E1 US Manufacturing: Better, But Not Out of the Woods
For American manufacturing, the Covid crisis is in many ways similar to World War II: an unprecedented challenge requiring novel and untried solutions. US manufacturing has simultaneously answered the call to produce critical goods to address the pandemic, while struggling to maintain a skills base and organizational structure during widespread shutdowns. The effect has been particularly hard on middle-market manufacturing companies, representing an estimated 17% of all midsize firms in the US. According to the BDO survey, nearly ¾ of CFOs at midsize manufacturers say that their businesses are currently struggling or just surviving. Most expect 2021 to be a better year. But will it guarantee survival? Eskander Yavar, Manufacturing Practice Leader at BDO and NAM board member, discussed these issues with Jim Anderton.