1/9/2015
The New Year has officially rung in, and with it, comes a time for contemplation. For Michigan’s manufacturers, 2015 is an opportunity to start with a blank slate. Yes, it’s time to begin anew. More than that, it’s time to make a comeback. So what do we mean by that?
For the last two years, we’ve read about the comeback of American manufacturing. We saw the news reports about the growing number of industry jobs, read about how companies were re-shoring positions back from abroad and cheered on the statistics demonstrating how manufacturing was consistently expanding. And on the state level, look no further than the comeback of the automobile industry. It wasn’t too long ago that people thought we were down and out. Through the resilience and hard work of manufacturers, the auto industry is alive and well and creating new jobs by the day. In fact, this has been the best year for General Motors, Ford and Chrysler since 2006.
We collectively support U.S. manufacturing and when the industry does well, we’re all pleased! However, many local small- and mid-sized Michigan manufacturers are still waiting for their individual comeback moment… that moment when profitability exceeds expectations and the mood goes from cautious optimism to just plan optimism.
If you want to make 2015 your big comeback year, it won’t just magically happen. It’s time to proactively focus on the key areas that will help your company grow and become more innovative:
- Identify and Manage Costs: It’s critical to gather accurate data about your operating costs. By assessing where you’re investing your resources, you can better set selling prices and determine your biggest profit drivers.
- Adopt Six Sigma Principles: Six Sigma is a specifically tailored, data-driven program that’s designed to streamline and eliminate the waste or excess in your processes. MMTC offers Black Belt or Green Belt training programs, depending on the needs of the manufacturer, as well as mini-training programs like the MiniTab® Training Workshop and the Introduction to Design of Experiments (DOE)
- Invest in Website Marketing: The Internet has changed how our buyers and suppliers research and purchase products and parts. With an improved website supported by Search Engine Optimization (SEO) and social media, you can enhance your online presence and sales.
- Provide Training for your Leadership Team: Creating a company culture of innovation and sustainability is depending on the leadership of your organization. Train your company’s leaders on how to implement positive change.
- Embrace Sustainability: Going green is more than a trend. There are many cost saving benefits to adopting environmentally sound practices.
2015 can be your greatest year yet! Experience your comeback by prioritizing projects that will help your company become more efficient, productive and globally competitive!
Since 1991, MMTC has assisted Michigan’s small and medium-sized businesses compete and grow. Through personalized services fitted to meet the needs of clients, we develop more effective business leaders, drive product and process innovation, promote company-wide operational excellence and foster creative strategies for business growth and greater profitability. Find us at www.mmtc.org.
Categories: Data & Trends,
U.S. Manufacturing