Investing in Industrial Training Equally as Important as Investing in New Equipment
In December U.S. factory orders rose in response to the increased number of investments in capital goods like heavy machinery. The Commerce Department reported that orders rose approximately 1.1 percent in December, down slightly from the 2.2 percent gain in November. 2011 as a whole saw orders go up by 12.1 percent following 2010’s 12.9 percent gain. But in 2009, when the recession is said to have officially ended, factory orders plunged by 22.1 percent.
Looking back to the positive close of 2011, the Commerce Department’s results topped off another productive year. 2011’s figures along with reports of strong job growth in January seem to signal that economic growth is continuing its climb to recovery. The increase drove the year’s orders to reach $5.36 trillion, just below the pinnacle of $5.44 trillion back in 2008.
December marked a successful month for factory orders. Capital goods rose by 3.1 percent while durable goods, which are those that are expected to last at least three years, increased by 3 percent. While the gains in both are expected to be due partly to businesses taking advantage of expiring tax breaks, most economists predict spending on new equipment will continue as businesses strive to modernize their plant operations.
Currently companies are more confident in hiring, factories are producing more goods and consumers are spending. All these factors point towards positive economic growth. But, with factories purchasing new equipment, proper maintenance becomes a pressing issue. In order to maintain the quality and effectiveness of durable goods that like those that manufacturing businesses continue to invest in, they must also consider investing in advanced industrial training skills. By implementing an industrial maintenance training program, workers can become educated on the newest technologies and learn how to properly maintain their plant’s new equipment. Investing in the newest technologies in the first step to advancing any manufacturing business, but also investing time and money in the most effective maintenance training program is essential to truly being able to maximize your ROI. Contact ITC Learning today to learn how our SCORM based online courseware can assist your business with maintenance training.
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