Some Major Challenges of Regional Resource-Based Manufacturers
1. Disruption in the Supply Chain
Supply chain interruptions are one of the most significant difficulties facing manufacturers. Manufacturing has been hit more than any other industry by supply chain challenges, with stocks at their lowest levels in decades. Electronic component offshoring to Taiwan and China, along with the pandemic’s effects and shipping delays, has resulted in substantial supply chain disruptions.
2. Shortage of workers
Manufacturers are collaborating with the local community and technical colleges. Apprenticeships and internships that lead to full-time work are also available. Some even aid in the development of programs and the training of applicants in areas like as die manufacturing, welding, robotics programming, and sheet rolling.
3. Identifying and Recruiting Qualified Leads
Manufacturers’ traditional marketing efforts are proving to be significantly less effective than in the past; trade exhibitions, trade ads, and cold calls aren’t performing as well as they once did. In the age of digital marketing, businesses must do more than just put up a website and hope that their top prospects find it.
Regional Resource Based Manufacturing
Manufacturing from locally available resources is referred to as regional resource-based manufacturing. The goal of a regional resource-based approach is to offer public (and private) infrastructure investments to increase work possibilities for the unemployed, increase productivity, provide social and economic infrastructure assets and amenities, enable commerce, and improve general well-being.
It is clear that a sufficient supply of talent pool for a longer duration is required to maintain a sustainable ecology in the region. Recruiting external talent isn’t the only way to go. Developing a local talent pool is a win-win option for the region’s government and businesses. Given the scarcity of capital and skilled labor, and the abundance of unskilled labor, low-income nations can achieve pro-poor growth quickly by implementing employment-friendly technologies in as many industries as possible. The need for unskilled and low-skilled labor would skyrocket as a result.
The Department of Industrial Policy and Promotion (DIPP) has announced the National Manufacturing Policy (NMP). The fundamental goal of this program is to increase the manufacturing sector’s proportion of GDP from 16% to 25% by 2022, while also creating 100 million jobs.