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January 04, 2010
By: CartPro
Category: Future Trends, Material Handling, Trade Shows
The poor economy led to lower attendance at 2009 material handling shows but 2010 promises to be a better year. Companies trying to hold onto their bottom line may have skipped last year’s show or sent only a token delegate or two. With the manufacturing and peripheral industries finally starting to post small increases, material handling and related industries are anticipating better attendance at 2010 conferences.
Annual conferences and trade shows offer unique opportunities to see what’s new in the industry and what the future holds. Staying up-to-date with your industry enables you to better position yourself to meet future demands. National trade shows are an excellent place to network. They’re a good place to search for new talent to strengthen or rejuvenate your operation. They’re also an excellent place to form alliances with other company representatives that can lead to greater national exposure and increased product sales.
Continuing education classes and workshops provide information on innovative solutions to management and marketing problems. Round table discussions provide an opportunity to trade techniques and strategies with other industry professionals. Dealer and product give you an opportunity to learn about new products, increase your product knowledge, and discover products or services that can augment or revitalize your current product line.
The big national material handling conference/trade shows scheduled for 2010 include:
- NA 2010: Solutions that Make the Supply Chain Work sponsored by the Material Handling Industry of America (MHIA) will be held April 26-29 at the I-X Center in Cleveland, Ohio. The event will focus on positioning your business to take advantage of future trends. Click here for more information.
- 2010: The Rules Have Changed sponsored by the Material Handling Equipment Distributors Association (MHEDA) will be held May 1-5 at the Marriott Marco Island Resort & Spa on Marco Island, Florida. The conference will focus on providing insight into recession-driven maketing and economic trends. Click here for more information.
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August 03, 2009
By: CartPro
Category: Business Tips, Manufacturing Industry, Material Handling, economy, ergonomics
The economy is finally showing signs of life; although as we mentioned in our last post, recovery is likely to be a slow process. As America recovers from the recession, businesses may find themselves trapped between wary consumers on one side and skittish bankers on the other, further slowing economic recovery. A continued lag in spending and lending means that belt-tightening will remain the norm for at least the next six to 12 months if businesses are to stay competitive and, in some cases, survive.
In an informal poll conducted last month, Manufacturing & Technology eJournal readers said they planned to rely on a variety of cost-cutting measures over the next year to maintain their competitiveness (click the link above for complete survey results):
- 36% expand territory
- 32% seek cost reductions from existing vendors
- 24% eliminate underperforming products/services
- 24% employee layoffs
- 21% reduce salaries or work days
- 12.5% seek work closer to home
Turning to your own workers for suggestions on how to increase cost-saving measures has proved a successful tactic in many industries during the recession. While concessions made by auto workers and airline employees have garnered the lion’s share of the headlines, workers in nearly every industry and business field have agreed to cut salaries, decrease work hours or forego benefits in order to maintain the solvency of their employer and keep their jobs.
It’s all about sharing the load and allowing workers to buy into the decision-making process. Workers express greater support for solutions they have helped create. And they’re more likely to embrace cost-cutting measures — and exert peer pressure on fellow employees to toe the line — when they feel:
- Their efforts will have a direct impact on solving the problem.
- More people will be able to keep their jobs because of the sacrifices they are making.
- The burden is being shared equally by workers and management.
That last point may be the most critical. We’ll look at why next time.
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July 31, 2009
By: CartPro
Category: Business Tips, Future Trends, economy
The heart monitor on the economy has started beeping again, apparently shocked into recovery by the dual application of bailout money and stimulus funds. Of course, there’s still concern that the cure may prolong the patient’s recovery but the big guy does seem to be on the mend. Many economic analysts are now predicting that true recovery from the recession may begin as early as next quarter, that’s six months to a year ahead of previous predictions. Naturally, there’s disagreement about the strength and speed of the economy’s recovery. “The question is whether we are transitioning to a solid growth period or to something flatter,” explained Dr. Chris Kuehl, economic analyst for the Fabricators & Manufacturers Association International (FMA), in the FMA economic newsletter Fabrinomics.
Kuehl pegs the strength of the economy’s recovery to three emerging trends that manufacturers and businessmen will need to factor into their plans as they position themselves to compete in the post-recession market:
- Cautious consumers. High unemployment and the continuing threat of job loss has made consumers wary of spending and further depleting any financial reserves they have left. Most economists expect consumer spending to lag other signs of recovery, further slowing the recovery process. Until unemployment rates return to post-crisis norms and consumers regain confidence in the economy, demand for goods and services is expected to remain low.
- Consolidation. Financial chaos has forced mergers and acquisitions in the U.S. and around the world, and not just in the automotive industry, Kuehl points out. Manufacturing bases have gone global, shifting from the U.S. and Europe to Asia, particularly China, and Latin America. Digging a toehold into these markets will be essential — and extremely challenging — if manufacturers, especially smaller players, are to survive. The complexities of global business may encourage even more consolidation as small manufacturers partner with larger ones or form cooperatives to gain global access.
- Unsettled financial markets. While banks and financial entities took the brunt of the first blow, they haven’t carried the burden of the economic crisis. Even so, they are still recovering which will continue to make them wary of lending money. The yet-to-be-known impact of new government oversight and regulation will also be a factor. Kuehl sees a return of the “old-school banker” with tougher credit standards, demands for greater cash flow, and less money available for growth and expansion.
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