McGladrey® Manufacturing & Distribution Monitor - Winter 2011-12 Edition
The number of companies that are thriving and growing is comparable to the number of companies in pre-Recession 2007. That is one of the conclusions from the recently released Winter Monitor, the fourth in a series of surveys taken in the past year.
According to the survey, the number of executives optimistic about the U.S. economy is 146 percent greater than it was in the fall of 2011.
The recent recession provided an opportunity for almost all companies to do a "reset"; to critically look at their business and align their staffing, investment and sales efforts with their current orders. As a result, many companies got much leaner, focused on improvements in sourcing and cost management, and continued to market in spite of slower orders.
Exporting sales was recognized by thriving companies as a key driver for growth. As the economy has improved, these companies have shown an incremental improvement in productivity and profitability, with some posting their best performance in their company's history during 2011.
Many companies were addressing rising costs, for example, by passing them on to their customers. Free trade agreements, research and development credits, and corporate tax rates are among the issues some industry advocates say need to be addressed if the U.S. manufacturing industry is to remain competitive.
In addition, a shortage of skilled manufacturing labor across the country could dampen the improved results.
Along with this report, Monitor participants received access to a customized dashboard that provides views of their responses to the questions posed, along with comparisons to the aggregate responses for their industry category and geographic location. The dashboard is automatically updated upon completion of each quarterly survey, making it an increasingly valuable analytical tool. The analysis in this report – along with the dashboard – provides a comprehensive view of the business environment.
This is the sixth consecutive year McGladrey has polled manufacturing and distribution industry executives. For 2011, McGladrey has expanded its study and now conducts surveys quarterly
View best practices identified in Monitor results
In these short video clips, Karen Kurek, National Manufacturing & Distribution Practice Leader, shares some of the best practices of thriving and growing companies taken from Monitor results of the past year:
Manufacturing & Distribution Monitor Report
Middle-market manufacturers and distributors are largely optimistic about their own businesses, yet they are grappling with a variety of challenges.
Offers tax tips, news and information pertinent to the manufacturing and distribution industries.
Provides private companies with industry benchmarking information on a real-time basis.