The Leading Edge Alliance (LEA) produced their 3rd Annual National Manufacturing Outlook Survey to gain insight into the current manufacturing industry conditions. As a Gulf South firm, P&N understands the significance of manufacturing to the regional and national economies.
Over 350 manufacturing executives participated in the survey, which includes respondents who produce industrial/machining; transportation/automotive; construction; food and beverage; and other products.
“Across the board, manufacturers are optimistic about the regional economy, sector growth, and increasing revenue expectations in 2019,” the report states. “Looking ahead, manufacturers expect raw materials, labor costs, lack of available talent and competition to be significant hurdles in 2019. The tariffs implemented by President Trump provide productivity issues; however, an increase in spending on Big Data and business intelligence are delivering innovative technology for minimizing productivity concerns.”
Highlights from the 2019 National Manufacturing Outlook Survey include:
The survey identified three key growth strategies manufacturers will use to keep their companies on a growth track:
P&N has experience helping clients with several of the success strategies identified in the LEA survey, including:
We are committed to continuous learning within the manufacturing industry to better serve our clients. If you have any questions about the strategies discussed in the survey, please contact us.