Since the American economy began on its path to recovery, the manufacturing industry has been making large strides toward improvement. Companies throughout the sector were impacted by the recession, but as conditions continue to get better, manufacturing firms are looking to bring on additional employees and expand their operations. Many businesses will be looking to develop effective strategies and adopt solutions that help them accomplish their goals for growth, and one tool that is especially beneficial for companies in the industry is manufacturing management software. These platforms give firms the ability to accurately calculate production output for maximum efficiency, maintain oversight on work orders and keep track of all vital operational aspects. The software solutions also provide companies with the assurance that they are following all manufacturing legislation, reducing the risk of violating regulations and avoiding expensive fees.
U.S. manufacturing picks up in February
According to the latest statistics from the Institute for Supply Management (ISM), February marked the third consecutive month for growth within the nation's manufacturing industry. In its Report on Business, the ISM revealed that the purchasing managers index (PMI) for February reached 54.2 percent, representing a 1.1 percentage jump from January's figure of 53.1 percent. This increase helped to boost the economy as well, which saw its 45th straight month of growth, the report states.
The majority of manufacturing sectors expanded in February, including paper products, furniture, transportation equipment, machinery and fabricated metal products. Other areas of growth were appliances and components, wood products, apparel leather and allied products and plastics and rubber goods. Only three sectors contracted in February - computer and electronic products, chemical products and textile mills. Professionals throughout the manufacturing industry are optimistic about the coming year, and many believe conditions will continue to improve for their operations.
Manufacturing on upward trajectory
For the manufacturing industry, 2013 is set to be a good year, as highlighted in a recent survey by Travelers Insurance. The research revealed that three-quarters of companies have expanded in the past year or plan to expand their product and service offerings in the coming year. In addition, 88 percent of respondents said they have already brought on more employees or plan to hire over the next few months.
To help maintain effective control over new workers, increasing work orders and a variety of other aspects, companies can use manufacturing management software.