US manufacturing growth highlights need for ERP solutions within the industry
The resurgence of America's manufacturing industry has created optimism in the midst of a stagnant economic recovery nation-wide. A study done by the Institute for Supply Management (ISM) forecasts that 2014 will be a significant year for manufacturing growth.
The ISM study indicates that this growth is expected to result in 4.4 percent revenue growth for American manufacturing enterprises. Capital expenditures are projected to increase by a whopping 8 percent. The juxtaposition of these figures with that of non-manufacturing growth statistics that were determined by the study shows that the state of the manufacturing industry is in better standing than others.
Non-manufacturing revenue is projected to grow by 3.6 percent while capital expenditures are expected to increase by 4.6 percent. Each of those statistics fails to meet the statistical expectations for manufacturing growth. Bradley J. Holcom, chair of the ISM Manufacturing Business Survey Committee spoke to the bright future of American manufacturing.
"Manufacturing purchasing and supply executives expect to see continued growth in 2014. They are optimistic about their overall business prospects for the first half of 2014, and are even more optimistic about the second half of 2014," said Holcomb.
American manufacturers presently employ nearly 12 million individuals. Over half of a million of those manufacturing jobs have been added since 2010. Growth within this sector of employment combats the popular sentiment that American manufacturing is on the decline. The logic behind that widespread belief is constructed around factors like off-shoring manufacturing positions.
Statistics show that adding manufacturing jobs from the global labor marketplace into the domestic market have been a factor in the industry's resurgence. Harry Moser, founder of the Reshoring Initiative, spoke to that point.
"Since January 2010 about 100,000 U.S. jobs have been created by companies that brought their operations back to this country." said Moser.
As growth within the United States manufacturing industry continues, enterprises should seek manufacturing software solutions to implement success ERP.
Accent Software, Inc. offers software for manufacturing that can enable the growth of enterprises within this thriving industry.