In the dynamic landscape of global manufacturing, the significance of regional collaboration in driving success cannot be understated. By examining the collaboration of manufacturers in North America, we can gain valuable insights into the advantages of this collaboration on the talent in the regional ecosystem.
STEM Talent in North America
According to a recent Brookings Institute report utilizing data from OECD, over 700,000 students graduated from STEM careers throughout Canada, the United States, and Mexico in 2019 alone. This talent pipeline serves manufacturers looking to fill technical and engineering roles throughout the region. As a result, North America is well-positioned to become an even more attractive destination for investment and nearshoring in advanced manufacturing.
In North America, talent from different countries work together in the manufacturing industry. They share knowledge and help each other make goods and services. Under the USMCA, there are specific provisions related to intellectual property protection, including patents, trademarks, copyrights, and trade secrets. These provisions aim to promote innovation and encourage R&D activities by providing a framework for the protection and enforcement of intellectual property rights across the three countries.
The robust ecosystem of North American universities and research centers fosters innovation, ensuring a continuous stream of technological advancements within the manufacturing sector. North American manufacturers are able to leverage regional collaboration to a great advantage when it comes to tapping into the potential of talent throughout the USMCA region. By working together, universities, government institutions, and private companies can strengthen existing infrastructure and create new opportunities for advanced manufacturing in the region. This is a great opportunity to further develop talent and build the foundation for an even more vibrant North American economy.
Supply Chain Collaboration in North America
By tapping into the vast potential of North America’s manufacturing industry, global manufacturers can increase access to talent, optimize processes and become more productive. The USMCA agreement has enabled a significant amount of collaboration between North American countries when it comes to supply chains. This includes direct synergies in terms of raw materials, component parts, and finished goods that are exchanged across borders multiple times before final assembly. Additionally, manufacturers in the region can benefit from cost savings through process efficiency and improved product quality.
“Collaborative supply chains facilitate a smoother coordination, reduced bottlenecks, and improved visibility. This leads to optimized inventory management, reduced costs, and increased customer satisfaction. Collaborative manufacturing networks are also better equipped to respond to market dynamics, regulatory changes, and emerging technologies. By leveraging the collective intelligence of various stakeholders, companies can swiftly adapt to new trends and opportunities. This will continue to unlock the potential of North America and its diverse and collaborative talent pool, leading to creative problem-solving and increased adaptability.”
– Kurt Schmidt, Consulting Director at Prodensa
This ongoing collaboration creates a win-win scenario for manufacturers in the region but also strengthens the entire North American talent pool. As manufacturers continue to expand operations across the USMCA, they can leverage this regional collaboration to further boost North America’s competitive advantage in manufacturing and cultivate an even stronger talent base that benefits all of our countries.
Contact us
Click here to see our solutions.
contact@prodensa.com