Industry Outlook 2021 – Trends & More

Lift & Tilt Podcast – Episode 019 :  Industry Outlook 2021 – Trends & More
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Date: 12/23/20

Host: Kurt Guntner

Overview: Kurt and Mandy discuss an Industry Week article as well as a forecast report from Deloitte consulting group about what to expect in 2021. While sipping Meiomi wine the duo discuss how the trends mentioned may shape business in 2021. Check out the latest episode from Lift & Tilt.

Industry Outlook 2021 – Trends & More

1) Disruption

Expect further disruption in 2021. Supply chain’s will continue to shift as businesses attempt to increase resiliency from pandemic, geopolitical, and technological forces. Changes to consumer buying habit and trends as well as labor disruptions are also likely to remain issues as the pandemic wanes and the economy expands to pre-covid conditions.

2) Digitalization

Accelerated adoption of autonomous work systems as well as a reliance on data driven business models will continue. Workforces will need continued training and more robust support to thrive in the anticipated A.I. and machine learning environments. Business operations will implement more system based rules to build better resiliency and stability into their businesses.

3) Adaptation

The businesses that will thrive are those that are the most agile and demonstrate the ability to adapt to the disruptions presented by this new paradigm.

Sources:
Industry Week | How Will Manufacturing Business Models Change in 2021
https://www.industryweek.com/leadership/strategic-planning-execution/article/21145516/how-will-manufacturing-business-models-change-in-2021

Deloitte | 2021 Manufacturing Industry Outlook
https://www2.deloitte.com/us/en/pages/energy-and-resources/articles/manufacturing-industry-outlook.html

Meiomi Pinot Noir

A rich garnet color with a ruby edge, the wine opens to reveal lifted fruit aromas of bright strawberry and jammy fruit, mocha, and vanilla, along with toasty oak notes. Expressive boysenberry, blackberry, dark cherry, juicy strawberry, and toasty mocha flavors lend complexity and depth on the palate. The well-integrated oak provides structure and depth seldom seen in Pinot Noir.

Produced by LTS Studios, an in-house division of Lift Truck Supply, Inc. – a full-line provider of Toyota forklift equipment, service, parts and rentals. LTS – Your Forklift Accessory & Parts Headquarters