Hearing news about the dismal state of the economy and the lack of growth in the United States is not new. We’ve become accustomed to thinking that there was only doom and gloom.
But this month, economists have been seeing some more positive indicators, and many point to the strength of manufacturing for leading the way. An article by the AP provides insights into all of the factors driving the positive momentum.
“Manufacturers ‘are benefiting from the strong growth in emerging markets, and domestic businesses are confident enough in the future to continue expanding purchases of capital equipment,’ said Daniel Meckstroth, chief economist for the Manufacturers Alliance/MAPI, a trade group,” the article reads.
Now what? Manufacturers should take the time to consider if they’re positioned correctly to take advantage of the rebound. Increased demand won’t necessarily translate immediately into a boom for your business. There will still be challenges ahead. If your company cut heavily, you might not have the resources in place to handle an uptick in demand. Do you have the processes in place to make sure you handle any increased demand with the greatest efficiency and productivity?
If you haven’t visited your strategic plan recently, addressed the nagging problems in your workflows, or identified your greatest opportunities for continuous improvement, now is the time to act.