These factors, combined with the strategic use of public policy, will play a significant role in defining the manufacturing sector's competitiveness, according to the new Future of Manufacturing report, compiled by the World Economic Forum and Deloitte.
As there are an estimated ten million manufacturing jobs worldwide that cannot be filled today due to a growing skills gap, many of which are in the UK, the report identifies talent as one of the key differentiators that will define the future of the sector.
According to the study, the infrastructure necessary to enable manufacturing to flourish and contribute to job growth will grow in importance and sophistication and will be challenging for countries to develop and maintain.
Craig Giffi, vice-chairman and consumer and industrial products industry leader at Deloitte, commented: "For the foreseeable future, the manufacturing game is going to look like a global talent competition - one in which countries and companies contend to find and develop highly skilled workers."
He added that effective public policy and good private-sector leadership will attract investment and drive superior talent development and innovation.
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Posted by John Oak
Source: The Sales Engineer News