Manufacturing Outlook Survey Shows Some Recovery

ASQ study shows continued cost-cutting measures.

A new ASQ (American Society for Quality) survey shows a majority of manufacturers are optimistic about a small economic uptick in 2010 at their organizations. However, respondents believe further cost-cutting measures will continue to be implemented. The results show a majority of respondents (64.7%) employed in the manufacturing sector predict their organizations will experience some financial recovery in 2010.

Other events that respondents predict their organizations will experience in 2010:

  • 61.3% believe their organization will create processes to reduce costs
  • 44.8% expect a pay freeze
  • 41.4% predict a hiring freeze at their organizations
  • 35.2% will have mandatory budget cuts
  • 27.8% expect staff layoffs
  • 24.7% anticipate reduced employee benefits

Respondents were also asked what one tip they would give to manufacturers to ensure revenue growth in 2010. The top four tips from respondents were:

  • Continue to take part in continuous improvement practices and increase use of quality processes
  • Increase customer satisfaction
  • Implement more lean processes
  • Reduce costs

"Since the manufacturing sector greatly impacts the economic climate, this survey may serve as a good predictor of the overall 2010 financial outlook," said ASQ President Peter Andres.

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