MHI Solutions

Economic Market Update

Uncertainty and Downside Risks to Growth for Material Handling

shutterstock_206781313There have been three red f lags highlighting downside risks to growth and the U.S. economy for the better part of a year: manufacturing, energy and finance.

These red flags were the impetus behind my recent book, Recession-Proof: How to Survive and Thrive in an Economic Downturn. Interestingly, these were also three of the main down­side risks to the global economy that Christine Lagarde, the head of the International Monetary Fund (IMF), noted in an interview on April 5.

Following Lagarde’s warning, lower forecasts of global growth were released by the IMF on April 12, when an IMF spokesman said that the global economy was “not technically in a crisis.” These IMF statements did not instill confidence, especially since they followed a March 29 speech Fed Chair Janet Yellen, gave in which “Uncertainty” was part the title—and a critical Leitmotiv. Red f lags were hoisted months ago for a rea­son. Now and in coming months, these same factors threaten growth for the U.S. economy—and material handling.

By Jason Schenker, CFP®, ERP®, CVA®, Prestige Economics, LLC

Click here to read the full article.

Emerging technologies such as IIoT, robotics and artificial intelligence provide exciting opportunities for supply chains. They also mean an exponential growth in the amount of data these supply chains generate. When properly utilized, this data can provide crucial information to improve efficiency, reduce costs, enhance transparency and customer service. But it comes with risk. The more digitized a supply chain becomes, the more it is at risk of cyberattack. Hackers are constantly finding new ways create data breaches they can exploit. The reality that most supply chains require third-party suppliers down the chain only heightens this threat. No matter the scale of your supply chain, it is essential to have solid cybersecurity processes in place to manage and mitigate the growing risk of cyberattack. That’s what this issue of MHI Solutions is all about, from cybersecurity threats in an IIoT world to dark data to the human factor in cybersecurity to blockchain as a potential solution.

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