The Thomas Blog

3 Financial Risks In The Manufacturing Industry

The manufacturing industry is largely comprised of small businesses. In fact, according to the latest information from the U.S. Census Bureau, more than 98 percent of manufacturing companies in the U.S. are considered to be small (with fewer than 500 employees). Further still, nearly 75 percent of manufacturing companies actually have fewer than 20 employees. 

Within these smaller organizations, financial decisions always loom incredibly large. Every dollar counts, and one misstep can have disastrous consequences. That's why it's important to steer clear of these common pitfalls. 

Optimize Safety In Industrial Operations To Drive Productivity & Revenue

Safety in the workplace is a serious matter — especially in industrial operations. In physically demanding and/or high-risk industries like many industrial operations, the implications of such injuries can be disastrous.

U.S. Bureau of Labor Statistics data shows there were more than 5,200 fatal workplace injuries across all sectors in 2018, in addition to more than 3 million total recordable cases of non-fatal work-related injuries and illnesses in 2013.

How To Meet The Needs Of B2B Industrial Buyers

No matter what your role is — sales, marketing, operations, or leadership — you have a lot to accomplish.

So do your buyers. 

By understanding what your buyers have on their plates, you can more easily accomplish one of the most important things on yours — generating more leads. Here’s what you should know to meet their needs and create more meaningful connections to win more business.

The Keys For Manufacturers To Connect With Big Buyers

Landing a contract with a big buyer can have an equally big impact on your business. However, large buying organizations tend to do things a bit differently than the clients you’re likely used to serving.

If you want a real chance at landing those big fish, you need to understand how they think and how their processes work.

How to Innovate Without Blowing Your R&D Budget

In 1998, Steve Jobs told Fortune, “Innovation has nothing to do with how many R&D dollars you have.” Jobs believed that throwing money at a problem should not be the answer. Creativity and genuine genius should win out. And whether you’re a pharmaceutical and software company with a large budget for research and development or a custom manufacturer with considerably less, a budget is still a budget.

So here are a few tips to help you spearhead innovation without blowing your R&D budget.

What Is Business Process Management: For Industrial Companies

Industrial processes have to be precise. Any error, from a disrupted link in a supply chain to a faulty step in the manufacturing process, could significantly drop the quality of your delivered goods or service. 

With a highly competitive environment, mistakes are intolerable. 

Mistakes and errors are rife when your industrial business does not have a set of documented steps for every business operation. This is where business process management comes in. 

In this blog, we will explore what business process management is, and how it can be used to reduce errors in all of your business procedures. This includes procedures such as using Thomasnet.com to source suppliers, to the factory floor operations, right through to the end of your supply chain with product/service delivery and marketing. 

How To Expand Your Manufacturing Business Into New Markets

American manufacturing is on the upswing. Hiring activity is  at historic highs; reshoring is bringing production back to the U.S., and buyers are spending more on new suppliers than they have in recent years.

Business owners continue to be cautious with investments and costs, with good reason. Even as manufacturing and the economy as a whole make gains, the memory of tougher times looms. Fortunately, the digital marketing landscape today allows you to take substantial steps to grow your business and expand into new markets. 

Tips To Become A Top Supplier

Most of us know that supplying a quality product or service on time, and at a fair price, is critical to achieving customer satisfaction. But what if you're not the only one that can do this for your customer?

Become your customer's first choice for their next order and rank as a top supplier with these tips.

Why Manufacturing Brand Marketing Is So Important

When it comes to branding, the major players probably come to mind first — Amazon, Coca-Cola®, Disney, and so on. The strength of their name recognition is immense. When these names come up, you immediately see their logo, and even if the logo doesn’t bully its way into your brain, you at least know what they’re selling. It doesn’t matter whether you consume their products or not; you know them. They’ve seared your mind with a branding iron. (See what we did there?)

Many manufacturing and industrial companies, however, don't think that they need to worry about branding. They prefer to rely on word of mouth and referrals to attract new business, and they feel that branding isn't important in their space. 

But there's a better way to grow your business.