Automotive | Contractors | Distributors | Job Shops | Manufacturers | Restaurants | Retail |

MANUFACTURING

The U.S. manufacturing industry is the eighth largest economy in the world. The U.S. manufacturing industry drives the current U.S. economic recovery. Between 2001 and today, manufacturing has made the highest contribution to the growth in real Gross Domestic Product (GDP) – more than any other industry. Manufacturing is the driving force behind American technology development and innovation, responsible for more than 70 percent of private sector research and development (R&D) and the center for advanced technologies that aim to cut energy use leading to a cleaner environment. Manufacturing’s productivity rate increased by more than 50 percent throughout the past decade and was far higher than services, which increased by only 18 percent during the same period.

Manufactured goods make up more than 60 percent of U.S. exports and these goods helped to pay for the United States’ desire for imports. Though agricultural exports amount to approximately $50 billion per year, manufacturers export that much each month. Overseas markets and exchange rate fluctuations are more critical in the manufacturing industry than in the rest of the U.S. economy. Manufacturing has a greater multiplier affect on the rest of the economy than does any other industry as each manufacturing dollar generates an additional $1.37 in economic activity.

The following are simply a few topics both you and your IPA consultant can discuss in order to enhance sales and improve your manufacturing business.

• Countering Counterfeits. Many manufacturing companies in the United States have recently begun working with the National Association of Manufacturers to counter product counterfeiting. By working with this association, manufacturing companies can help decrease the amount of counterfeiting by introducing enforcement and technical measures to mitigate potential economic losses.
• High-Performance Workforce. People are a company’s greatest asset and, according to a 2005 survey conducted by The Manufacturing Institute, 74 percent of respondents reported that a high-performance workforce is the key business driver for their companies over the next several years. Manufacturing companies should strive to maintain workers that perform at their highest abilities as they can drive innovation and have the ability to produce high- quality products at low costs.
• M&A Activity. Many manufacturing companies have recently begun insulating their companies against volatile economic conditions through acquisitions and by focusing on higher- margin and higher-growth sectors. By protecting their companies from a fluctuating economy, owners can receive various benefits allowing them to ensure greater profitability in the future.

View other IPA opinions.

IPA Manufacturer Client Opinions

"I would recommend IPA to anyone who needs help in Sales, Marketing, and Financial Control..."

"The foundation that has been laid by your staff will help carry us into the future..."

"It has been a pleasure working with [IPA]."

"Thank you, [IPA] – you have been a life saver!!"

"...our time with [IPA] has been very valuable."

"...we have benefited greatly from the work that [IPA] has done with our company."

"...it has been my pleasure working with [IPA] for the past 9 weeks.

"Guess who's elated that I decided to hire IPA? That's right, my own CPA."

"...[IPA] has provided us with the skills we need to manage our business ..."