2011 Outlook for Manufacturers is Bright
As the last months of 2011 near, many manufacturers have considered what the remainder of the year will look like for their industry. The ups and downs of the economy have surely wearied us all, however things are looking bright for some manufacturers in the United States. With a positive outlook on revenue, employment and growth, industrial manufacturers may be in for a treat. The New York Times article, “Factory Field Trip” provides an insight into the struggles and achievements of Gray Construction and examines the importance of quality industrial training as well as how having trained workers with the appropriate skill sets for their trade may help turn the industry around.
A leading buying consortium for manufacturers, Prime Advantage, released the results of its 8th Prime Advantage Group Outlook Survey. Prime Advantage surveys executives and purchasing professionals that represent manufacturing firms with annual revenues stretching from $10 million to $1 billion. The firms embody U.S. based manufacturers in more than 25 different industries including commercial food service, material handling and construction. The results of the survey showed solid growth projections for the remainder of 2011. The manufacturers surveyed are said to have taken a leap of faith and heavily invested in product development during the economic downturn. As a result, nearly 40 % claim new products and customers are stimulating growth and expect revenues to increase in the remaining months of 2011. Only 13 % forecast a drop in revenues due to expected slowing in particular markets. Almost 80% of those surveyed say capital spending on items such as property or equipment would either increase or stay the same. 36% claim employment rates will increase, while 52% expect them to stay the same. The graph below depicts the revenue expectations for manufacturers over the past year.
ITC Learning’s online industrial training courseware offers in depth training for your all industrial employees. We offer a variety of training courses, including maintenance training, control training, process training, hydraulic training, air compressor training and many more. Whatever your business expectations are for the remainder of the year, your employees should be appropriately trained for their trade. And with properly trained employees your business will grow exponentially.
Click here, to read the full article, “Factory Field Trip”