Our team focuses on suppliers serving the aerospace and defense market. Aerospace & defense suppliers will need to be more focused on their operating costs and ways to improve their processes to become more competitive in an increasingly competitive market. Our aerospace & defense practice is backed by seasoned experts dedicated to helping you navigate through turbulent times. We understand the critical elements impacting your business. Our practice group is abreast of the latest pronouncements, regulations and critical accounting changes impacting your industry–so you don’t have to be. The bottom line is we help make your company stronger, more adaptable, and more profitable.
Wednesday, May 9, 2018 | Suburban Collection Showplace, Novi
According to a new Standard & Poor’s report, there are two key indicators that will tell you what kind of shape the manufacturing industry is in. The first is the Institute for Supply Management’s Purchasing Manager’s Index and the second is the Federal Reserve’s Capacity Utilization Index for motor vehicles and parts. A reading above 50 percent for the ISM index indicates that manufacturing is expanding in the US, and below 50 means that it is contracting.
At the end of 2017, the largest corporate tax cuts in United States history were passed thus reducing the top corporate rate from 35 to 20 percent. This will allow repatriation of billions of dollars from overseas and many corporations to pass along bonuses and pay raises to their employees, boosting wage growth with average hourly earnings rising to 2.9 percent in January from a year earlier. Combining wage growth with an unemployment rate of 4.1 percent created the best outlook heading into 2018 for employees in almost a decade.
A wave of hackers is anticipated in an industry dependent on sensitive data, intellectual property and trade secrets.
Maintaining a high level of cyber security is vital for the manufacturing industry. Generally defined as companies in the automotive, electronics, textile, and pharmaceutical space, these companies struggle to protect their anticipated wave of hackers as well as prevent or mitigate any damage, manufacturing companies must adopt a relevant framework, protect their data, educate employees and implement official cyber policies.
The Trump administration's trade policy made a bold statement with a spontaneous announcement to impose tariffs of 25 percent on steel and 10 percent on aluminum. The president excluded Canada and Mexico, for now.