The economic outlook is rosy and procurement and supply chain are continuing to rise in importance in many manufacturing organizations, according to the Purchasing and Manufacturing Survey from manufacturing buying group Prime Advantage.
“From our first glance at the survey result, we saw good news and plenty of positive results,” Mike McDonald, vice president, business development and marketing at Prime Advantage told EBN in an interview. “The upcoming elections pose some level of uncertainty as people wonder what path we will go down. Yet we saw some really positive news in terms of revenue expectations.”
Optimism about revenue potential continues to rise and organizations expect to continue to hire, the survey found. In addition, organizations are continuing to demand increased flexibility and responsiveness from the supply chain.
The survey, now in its 15th year, surveyed 77 purchasing executives and professionals from its member companies. They represent U.S.-based manufacturers in more than 25 different industries, including electronics. The company also leveraged data from 750 other U.S. manufacturing companies using the National Association of Manufacturers (NAM)/IndustryWeek Survey of Manufacturers and the Manufacturing Barometer from PwC.
Click on the image below to start a slideshow of survey results.
What are your key concerns in the coming year? What new demands are you putting on your supply chain? Let us know in the comments section below.
— Hailey Lynne McKeefry, Editor in Chief, EBN