RSM McGladrey Releases 2009 Manufacturing and Wholesale Distribution Survey
July 1, 2009
On June 22nd business consulting firm RSM McGladrey released findings from its 4th annual Manufacturing and Wholesale Distribution Survey. The survey provides insights, trends, and projections within the industry based on the responses of more than 920 executives who answered questions related to current business conditions, growth strategies, innovation, cost management, technology initiatives, operations, and globalization.
This survey is on my must read list for businesses that are looking to gain an edge in the current economic climate. The survey results of 920 executives provides enough data to distinguish the best-practices among companies that are winning right now.
Based on the findings, here are a few things I would start doing if I weren’t doing them already:
- Take advantage of all available grants and tax credits. Companies that are doing so are finding more room for critical growing expenses including technology, energy, and employee benefits.
- Focus on green initiatives as the market certainly drives a need for green. Develop sustainable business practices and look for every possible new green business opportunity to boost your brand image. To quote the survey, “Is green the new black for companies looking to get out of the red?” My answer to that is, absolutely.
- Improve your own energy efficiency by using less and implementing green technologies. These methods will not only help the environment but also help offset the cost of increasing energy costs.
- Become involved in the global economy. Companies project that international sales will increase faster than domestic sales within the next 12 months. In addition, companies that have been involved in international business reported higher gross margins than their domestic counterparts.
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