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Robot orders and shipments in North America set new records in the first nine months of 2014, according to Robotic Industries Association, the industry's trade group.

Private companies, expecting revenue growth to soar far past that of gross domestic product (GDP), are in a hiring mode not seen since pre-recession days. While various GDP forecasts for the United States call for 2014 growth of less than 3 percent, the average predicted revenue gain for the next 12 months, among 213 private companies surveyed by PricewaterhouseCoopers between January and April, was 8.5 percent.

The rise of just-in-time manufacturing has created a revolution across the supply chains of many industries, including electronics components. But there is a negative.

Analyst Insight: India has one of the world's fastest-growing economies. Based on the country's 12th Five-Year Plan, manufacturing in India is expected to grow at a healthy CAGR of 9.5 percent. However, according to a World Bank Survey, India ranks 46th in global trade logistics performance and 13th in GDP growth worldwide. Despite the generally positive economic outlook, estimates indicate that the country's inefficient supply chain results in an approximately $65bn loss per year. - Neelam Singh, Senior Analyst, and Steve Banker, Service Director, Supply Chain Management, both of ARC Advisory Group