Did you know that the Department of Defense (DoD) spends more than 60 percent of the federal procurement budget eligible for small businesses? In the 2017 fiscal year, DoD awarded more than $60 billion in prime contracts to small businesses.
From anonymized sourcing activity across Thomasnet.com, Thomas Industrial Data shows the Aerospace & Defense Industry is a rapidly evolving field. Continued military spending growth is a sign for suppliers to secure ongoing business and tap into new market opportunities — but today, businesses continue to shift in their sourcing as they pivot to help the country combat COVID-19. Read on to learn how you can become a part of the solution.Read More »
Recently, “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 »
The packaging industry is expected to continue growing through the new year. In early October 2020, we reported the following major sourcing KPIs for packaging materials seeing a YoY increase vs. 2019:
- The number of sourcing sessions for packaging materials has grown by 25%
- The number of RFIs submitted directly to suppliers through Thomasnet.com grew 140%
- The number of supplier evaluations taking place on the Thomasnet.com company profiles of packaging material suppliers grew by 55%
Here are some ways to ensure your packaging company’s growth plans remain on track.Read More »
Think of some household items you often use — Bounty paper towels, Dawn dish soap, Jif’s peanut butter? The products are almost synonymous with the company name.
Building this recognition takes time and effort with brand marketing, but goes a long way in establishing trust with prospects and customers. In some cases, the first impression a prospect sees of your brand will be through your logo — so first impressions matter. Here are a few reasons why a manufacturer’s logo’s visual elements make a difference for growth.Read More »
One of the most significant changes in the digital space is that people are becoming so conditioned by the digital experience in their personal lives, they are beginning to expect the same level of ease and satisfaction when dealing in a professional capacity.Read More »
More major players are driving toward a sustainability goal, like McDonald's, who plans to have 100% of their guest packaging come from renewable, recycled, or certified sources by 2025. This year, 70% of their fiber-based guest packaging already comes from recycled or certified sources.
This presents the opportunities to produce new product options in demand for small business manufacturers, tap into a new market, and modernize your business.Read More »
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. Some still prefer to rely on word of mouth marketing 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.Read More »
For more than 120 years, Thomas has created trusting relationships with thousands of successful job shop owners from coast to coast. Job shops across America form the backbone of the country’s economy. Unfortunately, even though they may have the right skills, equipment, and people, it’s not rare to see a job shop fail.
In this blog post, we'll review the common mistakes job shops make and some anecdotal insights directly from job shop owners and managers.Read More »
The total industry market for CNC machining is expected to continue growing through 2024. But reaching target customers isn’t the same as it used to be for CNC machine shops. Industrial buying habits are simply changing. So what can CNC machine shops do to help increase sales?Read More »