The newest ThomasNet Industry Barometer offers good news for the industrial sector. Out of 3,243 manufacturers, distributors and service-industry professionals surveyed:
- 45 percent grew their revenue in the first half of 2010.
- 60 percent expect to keep growing through the end of 2010.
- 34 percent expect to hire more employees soon.
This is great news for the industrial/manufacturing industry! It means companies in this industry are starting to enjoy stronger sales and feel more optimistic about the future.
Another sign of good news is that only 19 percent of respondents said they experienced business losses in the first half of 2010, compared to 41 percent six months ago.
Businesspeople in the industrial/manufacturing industry also shared their top four strategies for continuing to grow. I’ll list them below and add how manufacturing inventory software complements each of them. You could say that using manufacturing inventory software is the fifth strategy for success.
1. Expanding into new locations. Having multiple locations makes the task of inventory management much more complex. If you use manufacturing inventory software, you can monitor product transfers between your warehouses and speed up the delivery process.
2. Offering better products and services. Expanding your product line means you’ll need to create new bills of materials and manufacture orders. Manufacturing inventory software comes in handy here, helping you automatically generate these documents.
3. Moving into new industries. It can be scary to move into a new industry. You need help to make sure you have the right parts and products to meet demand. It’s nice to have manufacturing inventory software to help you quickly find and order what you need.
4. Using online marketing. To sell online, you need to have a good inventory management system in place. You might want to check out the Nordstrom inventory management system. Nordstrom and other clothing retailers have been very successful with their inventory management and ecommerce strategies.
There you have it. I recommend you use Fishbowl Manufacturing to keep up with changes in your business model and new demands that are constantly popping up in this dynamic economy.
You can read the whole article by ThomasNet here: New Survey Shows Industrial Sector Surging Forward, Noting Faster Growth and New Jobs.