Recent predictions have indicated that the U.S. is headed toward a possible manufacturing revival within the next 3 years, which is heartening news for an industry that has seen thousands of jobs leave its shores in recent decades and an economic downturn that has seriously harmed revenues over the last several years. Last week, the Institute for Supply Chain Management released a report on the status of American manufacturing, concluding that September’s numbers show signs of a return to expansion after 3 consecutive months of contraction. The survey indicates some optimism due to the increase in orders amidst worries over worldwide economic conditions.
With 11 of 18 manufacturing industries exhibiting growth, the outlook has improved, though some respondents to the survey remain pessimistic over lower than expected revenues. Improved warehouse management, inventory management and streamlined supply chain management processes will be more important than ever as American manufacturing continues its recovery in an economy that is exhibiting snail-paced growth.
- Expanding industries include textiles, food, beverage & tobacco, apparel, and paper products.
- Contracting industries include electrical equipment, appliances & components, chemical products, and computer & electronic products.
- Paper products manufacturing seems especially optimistic: “Appears that our so-called ‘slowdown’ was a summer thing. September brings with it increasing requirements and business.”
- Uncertainty prevails for miscellaneous manufacturing: “Uncertainty in the healthcare legislation (reform) continues to be the underlying force keeping our sales revenue below its full potential.”
- Apparel, leather and allied products appear to exhibit the most concern in their responses: “Sales have tanked over the last two months, bringing a very concerned and stressed management team. Not very optimistic for the near-term future.”