A Look Back and Ahead: Unpacking Manufacturing Priorities for 2023

2022 was an undeniably good year for manufacturers. Despite lingering pandemic labor shortages, supply chain interruptions, and persistent market disruption, the industry reported strong performance. Notably, demand and production capacity both hit relative highs before the end of the year. These achievements prove the sector’s ability to thrive amid uncertainty and adversity. Positive projections are expected to continue into 2023; per recent reports from ISM, revenues and profit margins are expected to increase across most manufacturing verticals.

However, even the sunniest of predictions don’t preclude clouds. Manufacturers will undoubtedly weather challenges in the coming year — and at Gerent, we want to ensure that organizations are ready to handle adversity when it arrives. In this paper, our industry subject matter experts will provide context on the challenges and opportunities manufacturers faced in 2022 and offer insights into what they can expect to face in 2023. We hope that this exercise will allow manufacturers to proceed with confidence and build a solid foundation for success in the new year.

Our key takeaways include:

• In 2022, manufacturers pursued greater visibility into buying behaviors, stronger partner relationships, and improved pricing and quoting processes
• In 2023, manufacturers will face various ongoing challenges (e.g., supply chain disruption, raw materials pricing fluctuation, labor shortages) that may hinder operations if left unaddressed
• 2023 will be a banner year for digital transformation; now more than ever, manufacturers of all sizes and sub-industries seek innovative solutions to their business problems