Strategic management in the manufacturing industry requires planners to focus on a wide range of departments and company operations. The workforce, the technology, risks and environmental concerns all must be addressed in any management plans. Supply chain management, marketing and sales executives also must be included in the overall scheme of the company’s final strategic plans.

Plan Workforce Duties

Managing the company’s talent pool is one of the primary concerns any strategic plan must take under consideration. Payroll costs usually are the biggest overhead in any manufacturing company and must be managed appropriately to achieve the most beneficial results. Talent and its use drive operational functions and company productivity, innovation and quality. Jobs in the manufacturing sector increasingly require more complex skill sets, according to Deloitte. Competition for highly skilled workers in a global marketplace compounds the challenges in the industry. Strategic plans must include measures to hire, train and retain a qualified workforce.

Fit Technology in Strategic Plans

To meet the increasingly more complex needs of the manufacturing sector, engineers and consulting technology companies must create processes to meet the demands. To develop systems that translate across global manufacturing sectors, technology professionals rely on more standardization and flexible, interchangeable models that can be applicable across varying manufacturing sectors. For a company to remain competitive, its strategic management plan must include technology updates and changes that allow the creation of affordable, accessible and usable products the market demands.

Lay out All the Risks

Changes in the global marketplace have created substantial risks that affect manufacturing companies. Strategic plans must include potential risks and solutions as well as known risks and plans to mitigate any damage that could occur. When developing plans to deal with risks to the company’s abilities to succeed, planners also should focus on the potential positive upside of apparent risks. Risks to consider include changes in federal and global regulatory requirements, reduction in the life cycle of the company’s products and market fluctuations and trends. Internal risks that could affect the company must be addressed in the strategic plan and could include major upheavals of company executive staff, reduction in available talent and finance options.

Include Sustainable Processes

Environmental responsibility plays a key role in strategic management plans, because it is increasingly being regarded by regulatory agencies and provides the basis of purchasing decisions made by many consumers and manufacturing clients. Environmental compliance is expected of modern manufacturing companies in the way they market, produce, purchase and use products. Sustainability solutions must play an integral role in strategic plans for manufacturing companies to remain viable and competitive. To that end, many consumers even are willing to pay a premium price to partner with environmentally safe and sensitive manufacturers.