Pandemic-Fueled Labor Shortages Intensify Talent Crisis

June 7, 2021

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Aaron Wiegel
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Laurie Harbour
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the resilience of manufacturing
Reshoring Initiative
IHS Markit on The Lingering Effects of the Chip Shortage
With chip-supply constraints likely to persist until third quarter 2021, IHS Markit has analyzed the short and long-term implications for the automotive industry, and prepared a white paper titled, Managing the 2021 Automotive Chip Famine.

The semiconductor shortage has highlighted the need for adjustments in capacity and sourcing patterns between automakers, Tier One suppliers, semiconductor suppliers and their foundries, say HIS Markit analysts. In the short term, only industry-wide collaboration can help reduce the effect.

Commenting specifically on the impact the crisis has had in the Americas, Christiane Stein, associate director, global heavy truck research at IHS Markit, writes: “In North America, there are several plant stoppages, reduced line rates and production of unfinished trucks due to the chip shortage. Affected are Daimler (rolling downtime in two medium-duty plants), Volvo Group and PACCAR. Overall, the constraints are less than in the light vehicles business. …The shortage was made worse by special events in March (cold wave in Texas and fire at the Renesas plant in Japan) and will continue throughout the fourth quarter of 2021 in the light vehicle sector. For medium and heavy commercial vehicles, we assume that the OEMs have the potential to recover part of the lost volume in the second half of 2021.”
Webinar: Understanding Financial Statements for Non-Financial Professionals
Metal forming business owners and managers should "know their numbers," but many may not fully understand what to look for, say the folks at BusinessWatch Network, and most importantly, they don’t always know how to act based on their financial results. This webinar, scheduled for June 10 at 1:00 pm EDT, promises to “demystify finance by explaining clearly what the key financial statements mean and how they work and relate to each other.”

Among the topics covered:
  • The three basic financial statements and how they interact—income statement (profit and loss), balance sheet and cash-flow statement
  • Understanding cost of goods sold vs. general expenses
  • Cash vs. accrual
  • Operational cash flow/forecasting.
Industry-Related Terms: Center, CNC, Edge, E-Mail, Forming, Model, Transfer
View Glossary of Metalforming Terms



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