Manufacturing technology keeps recovery steady
April 08, 2013
For many industries in the United States, recovery from the recession has been a slow and difficult process. Getting back to work is not always simple, and this has been especially true for the manufacturing sector. For businesses in this area, growth has been difficult to achieve in the past few years, with hiring slowing and many economic factors straining budgets. In times like these, it is crucial that companies do all they can to ensure operations are as efficient as possible, and one way to do this is by implementing manufacturing management software. These tools can help businesses track a variety of vital factors, including production costs, client invoicing and employee productivity. By doing this, firms not only guard against any costly violations of manufacturing legislation, but they can also enhance their operations enough to allow for hiring new staff, investing in new equipment and more. In this way, technological solutions are an important component of improving the entire enterprise.
Leaders in the manufacturing industry will want to focus on further enhancements as they aim to support recovery, which seems to be on an upswing. Reuters reported that a survey from financial data firm Markit found signs of rebound in its latest release of the U.S. Manufacturing Purchasing Managers Index. The measurement rose to 54.6 in March, up from 54.3 in February. Any reading greater than 50 indicates growth. The average index between January 2013 and March was 54.9, which Markit noted is the best quarterly reading in two years.
"It is encouraging to see the upturn generating more jobs, with the survey suggesting that approximately 15,000 extra employees were taken on in the sector in March," said Chris Williamson, Markit chief economist.
However, the Society for Human Resource Management warned that April may not be as strong for the manufacturing industry as the previous few months. According to the Leading Indicators of National Employment survey, manufacturing industry growth could slow by 5.5 percent in April as compared to the same time last year.
In order for the manufacturing sector to cope with the still-volatile economy and continue its movement toward better bottom lines and fuller payrolls, businesses should take the appropriate steps to ensure they are operating at a high level of efficiency. This can be achieved through using advanced manufacturing software.