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As manufacturing becomes more globalized, competition increases. Mergers and acquisitions are on the rise, and worker flexibility is foremost on the minds of hiring managers. To stay competitive in the world economy, you need differentiated products. And, you may have to do it with fewer engineers.
Within the next few years, there could be a gap of up to 2 million workers in the manufacturing industry. Senior engineers and analysts with decades of experience are nearing retirement age. There aren’t enough younger skilled workers to take their place. Naturally, productivity begins to dip, and new technology needs to be developed to close the gap.