Good news! According to several recent studies, it appears the manufacturing industry is rebounding from the depths of 2020. Although COVID-19 is far from over—and for most manufacturers, revenues have yet to return to pre-pandemic levels—earnings are up, confidence is up, and spending is up overall. 

As they do every year at this time, manufacturers are engaged in strategic planning for the new year. But, aside from the timing, it’s hardly business as usual. 2020 was a year unlike any other, and many go-to strategies no longer apply. As a result, industry leaders are carefully planning how to best navigate the changing business landscape to ensure a successful 2021.

If you haven’t already put a machine monitoring system in place, you’re undoubtedly thinking about it. As the saying goes, if you’re not making chips, you’re not making money—and according to an Amper survey, machine utilization in factories averages just 26%. There’s plenty of room for improvement—but only when you know where to focus your efforts.