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State of Manufacturing: U.S. Strategies and Trends 2007

Explore the findings of a national survey with 947 respondents from various industries, focusing on growth strategies, workforce trends, tax strategies, and risk management in the manufacturing sector. Discover key insights to enhance operational effectiveness and competitiveness in the evolving market landscape.

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State of Manufacturing: U.S. Strategies and Trends 2007

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  1. The State of Manufacturing: How U.S. Manufacturers Are Competing 2007 Manufacturing & Environmental Conference October 16, 2007 Coralville, IA

  2. Survey Demographics • National survey • 947 respondents • 65% manufacturing – 35% distribution • Coverage across five regions – highest in Midwest • High “C” level participation • 10 industries represented • 78% from $15 million – $500 million in revenue

  3. Business condition Iowa 2007 41.3% 2006 65.6%

  4. Business condition

  5. Business condition Iowa 2007 = 41.3 2006 = 65.6

  6. Growth strategies

  7. Global strategy Iowa = 39.1 vs. 45.9 Iowa = 45.6 vs. 40.1

  8. Global strategy

  9. Mergers & Acquisitions

  10. Health care costs Iowa vs. National Ave. Wellness 57.4 vs. 36.9 Disease Mgmt 23.4 vs. 14.1 Audit TPA’s 12.8 vs. 8.0 Become self-insured 11.9 vs. 0.0

  11. Operational effectiveness

  12. Operating costs Supply chain issues

  13. Information technology

  14. Risk management • Key risk management programs • Independent audit committee • Assessment to prioritize high-risk areas • Internal audit function • 54% of companies have not implemented any • 13% of companies have implemented all three

  15. Workforce Nationally 63% report expanding/15% report decreasing their workforce in next 18 months vs. 65% expanding and 9% decreasing for Illinois companies

  16. Tax strategies

  17. Recap of key findings • Manufacturing and distribution as healthy as 2006 for most segments • More companies rely on domestic vs. international growth strategies • Opportunity exists to improve supply chain management • Make sure to utilize health care cost management programs • Information Technology is increasingly critical • Risk management is not a concern for 54% of companies • Workforce shortages will worsen • Tax savings opportunities are not fully utilized

  18. Questions?

  19. Contact Information: Tom Murphy RSM McGladrey, Inc. Executive Vice President Manufacturing & Wholesale Distribution 612.376.9226 tom.murphy@rsmi.com

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