You might be surprised to learn what the biggest challenge manufacturers say they’re facing right now. The talent gap comes up a lot on this podcast, but early survey findings from the New American Industrial Alliance (NAIA), show that “access to capital” is really what holds most mid-market manufacturers back.
In this episode, we sit down with the CEO and Co-Founder of Sustainment, a software company that helps manufacturers manage supplier data, sourcing, and procurement in one centralized platform. As someone partnered with NAIA, Bret takes us through what the findings reveal about procurement and supplier challenges, technology adoption, and plans for the future.
In a previous life, Bret was an Army infantry officer and served four tours in Iraq, which taught him a surprising amount about leadership and business. He shares his unique perspective on running a mission-oriented business that aims to support the resurgence of American manufacturing.
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3 Quick Things from this Episode
- In early findings from a survey conducted by the New American Industrial Alliance, they found that “access to capital” is the biggest challenge facing mid-market manufacturers. This holds smaller manufacturers back from expanding, investing, and starting new businesses.
- With around 70% of manufacturing workers in the small business sector, it’s the small and mid-market manufacturers who are powering this industry.
- Manufacturing is more than just a transactional industry. It’s a relationship one. Every OEM relies on a trusted network of manufacturers and suppliers.
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Tweetable Quotes
- “The combat power in American manufacturing is in entrepreneurial, small businesses spread throughout middle America… 70% of manufacturing employees work in the small business segment.”
- “Manufacturing in this day and age is a high-tech industry… these are super high- paying jobs, working in high tech that allow you to build a great depth of knowledge and great skills.”
- “Manufacturing gets done in a community. Every single OEM relies upon a trusted network of contract manufacturers and suppliers and people that are essential to what they sell to their customers.”
Please Scroll Down for Recommended Resources from this Episode
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What We Discuss with Bret
- Bret shares a little background on his military career and why he eventually wound up in the technology and defense manufacturing space
- The biggest lessons Bret learned in the military about business leadership, creativity, initiative, and problem-solving
- What led Bret to build Sustainment and how it solves wider problems facing American manufacturers
- Why manufacturing and supplier relationship management is a team sport between procurement, suppliers, supply chains, and manufacturers
- Bret explains why he partnered with the New American Industrial Alliance (NAIA) to help support a community of manufacturers
- Why mid-market manufacturers are the backbone of the industry – plus how the industry is facing a resurgence
- What the early findings of NAIA’s survey reveal and why the workforce may not be the number one challenge we thought it was
- How manufacturing’s success ties into the capacity and availability of materials and equipment, with a story of how COVID affected manufacturing
- What the survey tells us about manufacturing and new technology adoption
- How manufacturing leaders can tell their story and change the general public’s view on what this industry is like today
- What the survey shows about manufacturing’s procurement outlook on tariffs, supply chains, and reshoring
- What manufacturers can do to prepare for the next 20-30 years and the tools they need to succeed
Recommended Resources
- Sustainment, an SRM for improving your sourcing and procurement efforts with tools built specifically for managing suppliers within manufacturing
- NAIA, New American Industrial Alliance
- Mid-Market Manufacturers Survey
- Broken Spoke, live music & boot-scootin’ in Austin, TX, plus beer & chicken-fried steak since 1964
Connect with Bret and Sustainment
Bret Boyd on LinkedIn | Bret Boyd on X | Sustainment on LinkedIn | Sustainment on X
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