In the American economy, the success of a variety of sectors depends on the health of manufacturing industry. While this field took major hits during the recession, it has been making strides toward improvement that promise to have far-reaching effects on the entire business environment. In order for manufacturing leaders to ensure growth, they will need to adjust to the uptick in demands. As conditions get better, companies are likely to discover needs to hire more workers, schedule projects effectively and fulfill work orders in a timely manner. Manufacturing management software can play a key role in streamlining operations and making sure no unnecessary errors occur along the way. With traditional methods, it is possible for certain problems, such as accidental violations of manufacturing compliance standards, to slip by, resulting in costly litigation. Manufacturing software automates many operations so as to avoid these issues without draining workers' time.
Industry workers, analysts optimistic
One good sign for the economy is that manufacturing industry leaders are feeling confident about the coming year. According to PricewaterhouseCoopers' (PwC) Q1 2013 Manufacturing Barometer, in a poll of 58 senior executives at multinational industrial manufacturing firms, 55 percent of respondents feel optimistic about the outlook for the U.S. economy over the next 12 months. Additionally, 78 percent expect increases in revenue at their own companies, while only 5 percent predict declines.
Bobby Bono, U.S. industrial manufacturing leader for PwC?, noted that one of the emerging trends is that many manufacturing businesses are temporarily pulling back on growing their operations overseas.
"Instead, management teams are planning to spend more on research and development, new product launches and information technology as they focus on building market share and boosting revenues in a competitive domestic market," Bono stated.
Industry analysts are also predicting that 2013 will be a strong year for job creation. The Dalton Daily Citizen reported that at the Manufacturing Trends Luncheon, Gardner Carrick, vice president of strategic initiatives at the Manufacturing Institute, noted that about 50 percent of American companies are considering bringing some of their work back from foreign locations. He explained that this could create as many as 600,000 positions.
In order to realize potential gains, leaders in the manufacturing industry need to strive toward improving their processes. Through manufacturing software, they may be able to better their bottom lines while maximizing efficiency and accuracy.