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Manufacturing News & TrendsNEW REPORT UNVEILS CONTRIBUTIONS AND CHALLENGES FACING SMALL MEDIUM MANUFACTURERS IN AMERICA Performance of all U.S. Manufacturing Tied More Than Ever to the Success of SMMs WASHINGTON, D.C., Feb. 23, 2006 — A new report underscoring how small and mid-sized manufacturers (SMMs) are playing an increasingly important role in the nation’s industrial economy -- despite unprecedented challenges -- was released today by the National Association of Manufacturers (NAM), it’s research and education arm, The Manufacturing Institute and RSM McGladrey. “Even though we’ve experienced some attrition of small manufacturers in the last five years, small and mid-sized companies still represent more than 99 percent of America’s manufacturers, account for 40 percent of the value of U.S. production and are increasingly critical to our country’s economic success,” said NAM President John Engler. “But small manufacturers are facing unprecedented challenges such as exorbitant energy and health care costs. The cost burden of complying with regulations falls disproportionately on small businesses in all sectors of the economy, but it is especially onerous for small manufacturers because regulatory costs for manufacturers are 81 percent higher than for all types of businesses. We simply must bring down these costs if we want to strengthen the hand of SMMs and enhance America’s manufacturing economy,” Engler said. THE 2005 SKILLS GAP REPORT In spring 2005, the National Association of Manufacturers' Manufacturing Institute/Center for Workforce Success and Deloitte Consulting LLP (Deloitte Consulting) developed the fourth iteration in a series of surveys designed to learn more about how manufacturers plan their human capital strategies and the barriers they encounter in the process. The results of this survey confirt the skill shortages found in earlier reports. However, the 2005 report goes much beyond earlier findings in detailing the breadth and depth of the skill shortage, the negative impact of the shortages on business operations, and the extraordinary increase in employee performance requirements. To read the full report, CLICK HERE. COMPETITIVENESS IN THE GLOBAL MARKETPLACE The National Summit on Competitiveness has one fundamental and urgent message: if trends in U.S. research and education continue, our nation will squander its economic leadership, and the result will be a lower standard of living for the American people. Global conditions are changing. The competition is getting better at creating and deploying new knowledge. Information technologies are enabling the rapid diffusion of knowledge, know-how, and advanced manufacturing capacity. Talent, technology, and capital are available globally. In this new economic landscape, past performance is no guarantee of future success. To read the full report, CLICK HERE. HIGH COSTS CONTINUE TO UNDERMINE KEY MANUFACTURING SECTORS WASHINGTON, D.C., Oct. 11, 2005 – Manufacturing profits in five key sectors were 67 percent lower than they would have been from 2000 to 2003 because of adverse structural costs -- and still have not returned to their historic norm -- according to a joint study released today by the Manufacturing Institute and the Manufacturers Alliance/MAPI. “Profit rates for durable goods and chemical manufacturing continue to be dramatically lower than their historic norm, primarily because of escalating domestic costs and intense international competition,” said Jerry Jasinowski, president of the Manufacturing Institute. “These structural costs are having a far greater negative impact on manufacturing profits than the recent recession. Seeking Tariff Reductions Through WTO, NAM Leads Industrial Delegation to Geneva WASHINGTON, D.C., October 4, 2005 — As follow-up to a similar effort this past April the National Association of Manufacturers will lead a global delegation of manufacturers to the World Trade Organization (WTO) in Geneva, Switzerland, on Wednesday and Thursday to make certain that manufacturing priorities are addressed in the Doha Round of trade negotiations. More than 15 individuals from manufacturing organizations around the world will participate. Manufacturning Regains Momentum 10/3/2005 - Wall Street Journal, Print Edition American manufacturers, in a pleasant surprise, said business turned up in September despite Hurricane Katrina and the jump in energy prices, a suggestion that the storm didn''t do significant damage to the economy outside of the ravaged Gulf Coast. The Institute for Supply Management reported its monthly index jumped to 59.4% in September from 53.6% in August, a 13-month high. A reading above 50 indicates the manufacturing sector is expanding. Many analysts had expected the September reading to decline. But manufacturing purchasing managers also reported that prices they paid for materials were up, a sign of incipient inflation. |
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