The Manufacturing Industry Is Competitive, but Through Strategically Driving Sales, Innovation, and Culture within Your Organization You Can Play a Major Role in the growth of the U.S. economy:
Today, the Manufacturing Industry may be lagging the economy however a revival is expected to occur and not too far from now. This is the time more than any for manufacturing to recover its position as a competitive productive industry. Some of the issues presented over the last decade are due to the underemployment of skilled workers, oversea powerhouses that create U.S. deficits in production and exportation, and a lack of supply for every demand.
Just last year, in 2012 Manufacturers contributed $1.87 trillion to the U.S. economy, supplying 12 million Americans with jobs directly employed by manufacturers. Compared to a just few decades ago, this assessment has decreased by 5 million jobs. With this, where do we get the notion that the industry is going to rise again? By way of legislative support; lower energy costs, rising exports from other countries, and increased production by the year 2020 BCG says this “could create 2.5 million to five million American factory and service jobs associated with increased manufacturing.” (Boston Consulting Group: http://online.wsj.com/article/SB10001424127887323423804579020732661092434.html).
It is also worth mentioning that despite the loss of 4.1 million manufacturing jobs between 2000 -2012, the number of manufacturing workers with graduate degrees has increased by 19%.
So what can you as an organization small or large, do? Whether you manufacture a product or service manufacturers with a specific process; your role in supporting growth in innovation and productivity has a valuable impact on our economy. Educate, understand, and become experts in these (4) four core areas of your business:
The Manufacturing workforce relies heavily on skilled and technical individuals to help drive innovation, improve productivity and continue to be a competitive market internationally. By supporting education and appropriate training will enable not only individuals to succeed but manufacturing as an industry. With the baby boomers entering retirement, this is the time where upper level executives need to invest in the future.
The culture within your organization also plays a major role in the productivity of your employees. From their internal morale, to finding important information with ease; it is in every organization’s best interest to ensure the support of all employees. What can we take away from this? Take advantage of employing recent graduates, provide them with the internal education necessary to perform well and provide support that encourages a strong work ethic and allows advancement.
2. Take Your Branding To the Next Level:
Already, as a competitive industry, manufacturing companies have many opportunities to share their enterprise by way of product showcases, trade shows, traditional sales force, and a wide array of advertising initiatives. There are a plethora of tools that make selling your product/service easier and memorable. Providing these tools can successfully market your message in terms of B2B avenues and B2C. What can we learn here? Implement sales tools that are mobile friendly and platforms that support your sales team, create a cohesive, yet effective brand image across the board and market yourselves everywhere…all of the time.
3. Increase Innovation:
We are amidst the digital age and with this, manufacturing really has the opportunity to take communication to the next level. Despite that manufacturing has lost its steam in the competitive market it continues to provide a valuable source of innovation through research and development, exportation, and growth in productivity. Manufacturing is so diverse that your niche market has a place within the industry. How can you participate in the enrichment of innovation? The possibilities are endless. What does your organization believe in and find its efforts most relevant to? With current issues of consumption, production, motorization, and demand; incorporate a full R&D team who understands the goals and objectives of your organization.
4. Increase Sales:
In direct correlation with the previous three business courses of action, you should see a substantial return on every investment. From successful brand management, innovative products or services, and internal/external support you are on the right track. Just don’t forget the HUMAN element, manufacturers! Although your day to day is primarily comprised of data trends, statistics & analysis, and engineering drafts your customers need to be reminded you are a company backed by human involvement. So take the time to interact.