The prevalence of information and connectivity on the internet has been tremendously advantageous for both consumers and industrial buyers. Search engines and social media make it easy to find reviews about products, services and companies within a few clicks.
But what happens if that information is both negative and untrue? Worse, what if it's about your company?
Last quarter “steel” was one of the most sourced products on the Thomasnet.com platform. Sheet metal and metal stamping facilities are rising and contributing to the growth of this market. But it also comes as no surprise when steel and metals represent an important supply source to the aerospace, aviation, and medical industries — timely to today’s global pandemic of COVID-19.
So how can steel and metal manufacturing businesses continue the momentum of their business growth? First, make sure you have a clear business plan. Some manufacturers try to grow their manufacturing business by doing everything possible. Choose business goals that are realistic and document them so you can see your milestones and track your growth along the way. You may overwhelm yourself and your employees if you don’t have a clear plan first.Read More »
Small- and medium-sized businesses (SMBs) are an essential and valuable part of the supply chain, offering levels of flexibility, cost competitiveness and responsiveness that some larger suppliers often can't match. SMBs are typically more flexible and responsive than their larger counterparts, and they allow you to take advantage of the benefits of local sourcing.
However, while procurement teams want to engage SMBs, the feeling isn't always mutual. That's because larger buying organizations make it onerous for these smaller companies to participate in the bidding process. As a result, SMBs believe it takes too much time, effort and guesswork to respond to large buyers, all for a very slim chance of winning business.Read More »
How Manufacturers Can Build a Strong Direct to Customer Sales Model
For many manufacturers, leveraging a network of distributors and resellers has historically been the simplest way to get their products to the end-users.
Working with third-party distributor groups has provided logistical support & warehousing, sales support, and existing relationships with regional end-users to allow manufacturers to focus on other pressing matters like product design, process development, and quality control.
However, in the face of COVID-19, the shift toward direct-to-consumer sales has accelerated.Read More »
Almost without notice, COVID-19 changed the way businesses operate and how individuals live. The manufacturing industry has shown inspirational resilience throughout historical times, yet the continuous effects of COVID-19 on the economy have pushed the manufacturing industry to reimagine the way they do business.Read More »
If you're keeping up with the latest manufacturing lead generation strategies, you may have already heard that up to 88% of businesses ultimately buy the part after downloading a CAD model. CAD files are proven to generate high-quality sales leads. But are you fully embracing them as a marketing asset or are you only sending them by request from sales? Not sure? Let's walk through the basic model of using CAD files for high-quality lead generation.Read More »
Are you looking to land one of the big customer? Becoming an approved supplier for a large global company can change your business forever. But landing a big customer takes far more than a hello and a handshake. We recently reviewed the supplier discovery process of a leading Fortune 500 company, and here’s what we learned:Read More »
American manufacturing stands at a critical point in its long history — and how industry leaders view and react to the changing landscape will influence its future. As technology, demographics, and economic climate shift, manufacturers must innovate in order to stay competitive. Manufacturing in particular is positioned for domestic growth and, more than ever, industry leaders must guide their organizations strategically. Let’s take a look at some of the issues facing the industry through the lens of both challenges and opportunities.Read More »
Starting a new business can be a challenging endeavor, especially for entrepreneurs entering a crowded market with large, well-established competitors already in place. As the manufacturing industry experiences shifts in the way they operate, how can CNC machining businesses secure contracts and grow within the industry despite today's challenging obstacles.
Here are some tips and suggestions for small CNC machine shops to continue growing their businesses.
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