Manufacturing companies across the state are reporting a serious shortage of skilled and unskilled laborers as they move rapidly towards smart manufacturing, known as “Industry 4.0.”

The 2018 Indiana Manufacturing Survey: Industry 4.0 Has Arrived revealed that as Indiana’s largest industry sector enjoyed continued growth in revenues and profits, its employers were investing heavily in automation, welcoming a movement that, nationally, has been dubbed “Industry 4.0.” Meanwhile, the percentage of manufacturers that identified workforce development as their top concern declined to its lowest level in a decade. How have these trends played out in 2019, and has the sentiment toward workforce held steady? Find out Oct. 16, 2019, when the final results of the 2019 Indiana Manufacturing Survey will be released at the Indiana Manufacturers Hall of Fame Induction Luncheon, hosted by the Indiana Manufacturers Association and presented by Katz, Sapper & Miller.

Katz, Sapper & Miller’s 13th annual survey assessing the state of Indiana’s manufacturing industry is now underway. The survey provides key insights and market trends that often lead to industry improvement, including use by the Indiana Manufacturers Association to help advocate pro-manufacturing legislation during Indiana's legislative sessions.

Lost productivity. Absenteeism. Lower retention. Decreased bottom lines. The impact of Northeast Indiana's opioid epidemic continues to expand, and yet many companies - especially in the manufacturing industry - remain unable or unprepared to stem its adverse effects.

As Indiana’s largest industry sector enjoys continued growth in revenues and profits, its employers are investing heavily in automation and manufacturing efficiency, welcoming an industry movement that, nationally, has been dubbed “Industry 4.0.” The 2018 Indiana Manufacturing Survey: Industry 4.0 Has Arrived shows that most Indiana manufacturers consider investments in facilities, machinery and related information technology to be their top concern. Meanwhile, the percentage of firms identifying workforce development as their top concern declined to its lowest level in a decade.

Results from the 2018 Indiana Manufacturing Survey indicate that not only are manufacturers now embracing automation, which helps them fuel growth and address the ongoing work shortage, but that they are racing toward it at a faster pace than ever before.

Katz, Sapper & Miller's 12th annual survey assessing the state of Indiana's manufacturing and distribution industries is now underway.

Katz, Sapper & Miller’s JC Wilkinson and KSM Consulting’s Mark Caswell will present at the Indiana Manufacturers Association’s (IMA) Manufacturing Technology Summit June 6 in Indianapolis. The event brings together leaders in the manufacturing industry to explore cutting-edge technologies and how they can be used to improve profitability.

In recent years, the Financial Accounting Standards Board (FASB) received feedback that revenue recognition guidance was fragmented at best, confusing at worst. This is significant considering revenue is the key measurement used to determine a manufacturing company’s performance. In response to this feedback, the FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, in May 2014, and subsequently amended it. This is the most significant revision to U.S. Generally Accepted Accounting Principles (U.S. GAAP) revenue recognition standards in history.

The Tax Cuts and Jobs Act of 2017 is the largest shake-up to the Internal Revenue Code in more than 30 years. From substantial changes in depreciation rules to the repeal of DPAD, it includes a multitude of changes that will directly impact the manufacturing sector.