Brief Excerpt from Industry Overview Chapter:
Companies in this industry manufacture a wide variety of goods; major product groups include food and beverages, chemicals, machinery, transportation equipment, and computers and electronics. Major companies include Boeing, Caterpillar, DowDuPont, Ford, GE, GM, HP, IBM, Pfizer, Procter & Gamble, and Tyson Foods (all based in the US); Nestlé (Switzerland), Sanofi (France), Siemens (Germany), and Toyota Motor (Japan).
Globalization has opened new markets and opportunities for manufacturers but has also created new challenges, including how to manage far-flung supply chains and distribution channels. Manufacturers have turned to digitalization to improve efficiency across every area of operations, including product development, design, production, distribution, and marketing. However, implementing a successful digital transformation strategy -- including the leveraging of internet of things (IoT) technology and big data -- requires careful planning and significant investment.
PRODUCTS, OPERATIONS & TECHNOLOGY
Transportation equipment (automobiles, planes, and railroad equipment) accounts for about 18% of US manufacturing revenues; food, beverages, and tobacco products, 17%; chemicals, for 13%; fabricated metal products, 6%; machinery, 6%; computers and electronics, 5%. Other major segments include primary metals, plastic and rubber products, and paper.