New York's manufacturing sector receives an 'F' and its logistics gets a 'C'. The situation isn't much better for several nearby states, according to the 2013 Manufacturing and Logistics Report Card, an in-depth analysis from Ball State University's Center for Business and Economic Research. The report grades all 50 states, ranking several areas of the economy.

Former President Bill Clinton, arguing for establishing a national infrastructure bank, says such a facility would create jobs in a wide array of industries.

U.S. manufacturing isn't likely return to prerecession levels for at least year and a half largely because the sector is grappling with weak demand for American exports and federal government cutbacks.

By better matching supply to demand and improving distribution, inventory levels and expense can safely be reduced.