Tag Archive: export

Have You Thought of Crossing Borders Lately?

March 15th, 2018

There was an export panel at the Manufacturers’  Council of the Inland Empire 7th Annual Summit, and it brings to light the vast opportunity of export.  Additionally, I had a lunch with a top international attorney and an international research expert recently, and it opened my eyes further on the topic of export.  Why do we always think about import but forget to export?

Less than 1% of America’s 30 million companies export and less than 39% of US manufacturers export.  Of those that export, 58% export to only 1 country. Why? What is going on? In the same breath, the statistics show that  Made in the USA is a compelling proposition and there is VAST opportunity to sell products in other countries. You don’t even have to go far with Canada and Mexico at our borders.  

According to a study published by the Institute for International Economics, U.S. companies that export not only grow faster, but are nearly 8.5 percent less likely to go out of business than non-exporting companies. Are we not interested in profit????  This panel has found success in export.

 

 

For example, Kusum Kavia, president of Combustion Associates discussed the success her company has had in exporting to Africa as well as many other countries.  They were featured in the cover story in Global Trade Magazine as well as recognized by President Obama at a US-Africa Leaders Summit. She credits many collaboration partners in this success such as the Export-Import Bank and trade specialists at the US Department of Commerce.

Another Inland Empire manufacturer and APICS-IE supporter, Roy Paulson, president of Paulson Manufacturing has achieved great success with exports.  They have grown rapidly and significantly through export, and he has served on the president’s export council.  Why not get a boost to your sales revenues while providing value in other countries?

There is also far-reaching support for global logistics, banking and exchange rates and much more.  Why not look into whether your products might be of interest to other global markets? You might just discover a goldmine!

 

 



McKinsey Report Predicts 20% Growth in Manufacturing by 2025

November 20th, 2017

Supply Chain Briefing

McKinsey Report Predicts 20% Growth in Manufacturing by 2025
According to Industry Week, a McKinsey report predicted manufacturing GDP would grow to $3 trillion by 2025  – a 20% increase!  Large U.S. firms have outperformed their global counterparts, according to the new survey, “Making it in America: Revitalizing U.S. Manufacturing” by The McKinsey Global Institute.  What we knew all along!  

Of course, it has been tougher for the smaller firms supporting these larger firms which has negatively impacted the middle class.  However, there is hope.  Demand is rising at home and abroad with VAST opportunity to export.  Value chains are evolving to a U.S. advantage especially those in advanced industries.  Rapid customization and consumer preference can drive additional firms to manufacture in the U.S.  Are you ready?

 

Who, What, When and Where Will Impact Manufacturing?
Are you ready for the coming wave of manufacturing?  Do not wait until you miss your opportunity as customers expect QUICK deliveries, RAPID customization and a proactive, excellent customer experience.  Have you thought about which technologies to leverage to get ahead of the curve so that you can take advantage of the opportunities as they arise?  What can you automate?  

And although technology is paramount to success in this new world, the core tenets remain intact.  Do you know your customers?  Why will they purchase from you vs. your competition?  How can you stand out from the crowd?   Can you create an experience for them?   Although important to ponder, don’t bother unless you have also thought about your human capital.  Where should you shore up your talent to get ahead of the curve?  Plan for success; don’t wait for it to pass you by.