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Risk and Financial Management Panel FPPA 13 th Annual Convention Sanibel Harbour – Fort Meyers, Florida February 23, 2010. Current Manufacturing Situation. Growth in Real Output: U.S. Manufacturing vs. Overall GDP. 432%. 411%. Source: U.S. Department of Commerce.

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Current manufacturing situation

Risk and Financial Management PanelFPPA 13th Annual ConventionSanibel Harbour – Fort Meyers, FloridaFebruary 23, 2010



Current manufacturing situation

Growth in Real Output: U.S. Manufacturing vs. Overall GDP

432%

411%

Source: U.S. Department of Commerce


Current manufacturing situation

US Share of Global Manufacturing

Compiled by The Manufacturing Institute for the 8th Edition of Facts About Modern Manufacturing


Current manufacturing situation

Manufacturing Dominates US Exports

Compiled by The Manufacturing Institute for the 8th Edition of Facts About Modern Manufacturing


Current manufacturing situation

US is the #3 Manufacturing Exporter

2007, $Billions

Compiled by The Manufacturing Institute for the 8th Edition of Facts About Modern Manufacturing


Current manufacturing situation

Trade Agreements Do Not Drive the US Trade Deficits

Compiled by The Manufacturing Institute for the 8th Edition of Facts About Modern Manufacturing


Current manufacturing situation

NAFTA Trade Deficit - US

Source: U.S. Department of Commerce





Risk management infrastructure
Risk Management Infrastructure

  • Key RM Components

  • Performed a risk assessment

  • Internal audit function

  • Independent audit committee

Source: RSM McGladrey 2009 Manufacturing and Wholesale Distribution National Survey


Risk categories
Risk Categories

Source: RSM McGladrey 2009 Manufacturing and Wholesale Distribution National Survey


Supply chain risks
Supply Chain Risks

  • Supply interruption or inadequacy

  • Internal or external quality issues

  • Transportation interruption or inadequacy

  • Export/import delays

  • Labor crises

  • Traditional disasters

  • Public relations crises

  • Business fluctuations


Technical risks
Technical Risks

  • System downtime

  • Software glitches

  • Malicious attacks on systems

  • Viruses, worms and other “malware”

  • Industrial espionage

  • Your staff








Business continuity plans needed more than ever
Business Continuity Plans - Needed More Than Ever

  • Escalating threat and impact of disasters

  • More aggressive business environment:

    • Increased market competition

  • Increased manufacturing complexity

    • Specialized equipment, lengthy replacement times

  • Just-in-time–supply chain risks

  • More with less–people risks

  • Increased reliance on technology

  • Increasing regulatory requirements


Business continuity risk assessment
Business Continuity Risk Assessment

  • Analyze the impact of each threat to your business

  • Considerations include:

    • Criticality to your operations

    • Impact on your staff

    • Ability to repair or replace damaged assets

    • Ability to access systems remotely

    • Business and economic risks

    • Reputation risks

    • Privacy and control issues


Develop your business continuity plan
Develop Your Business Continuity Plan

  • Document procedures to recover critical business processes following a disaster

    • People, communications, facilities, equipment, records and other resources needed to recover your operations

    • Temporary operating procedures to allow critical functions to continue despite the unavailability of resources

    • Reconstruction of work-in-process that was lost

    • Restoration procedures for returning to normal operations


Key legislative issues risks
Key Legislative Issues/Risks

  • Health Care

  • Energy Policy

  • Taxes

  • EFCA [Employee Free (Forced) Choice Act]

  • Cap and Trade (Stealth Tax)


Five things to focus on now
Five Things to Focus on Now

  • Innovation

  • Supply Chain

  • People

  • Exporting

  • Information Technology


2010 national manufacturing and wholesale distribution survey
2010 National Manufacturing and Wholesale Distribution Survey

  • Demographics:

  • Survey in field March 2 – April 2

  • Similar questions to drive trend reporting

  • Plan to release results by early June

  • Issue & Industry reports available by July 1st


Contact information
Contact Information: Survey

Tom Murphy

RSM McGladrey, Inc.

Executive Vice President

Manufacturing & Wholesale Distribution

612.376.9226

tom.murphy@rsmi.com

QUESTIONS


Current manufacturing situation

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