The Institute for Supply Management (ISM) in its latest Manufacturing ISM Report On Business, found that manufacturing expanded in February at its fastest pace since August 2014 – as factory managers reported stronger orders and production.
Additionally, the ISM report states that in February the production index increased from 61.4 to 62.9, the highest reading since March 2011. Plus, a measure of new orders, which foreshadows future output, jumped from 60.4 to 65.1, the highest in more than three years.
Overall, the ISM’s gauge of orders increased to the highest level in just over three years – while an index of production posted its best reading since March 2011.
Manufacturing is growing – are you ready?
Manufacturing is growing faster than many had anticipated. Is your company ready to take advantage of the uptick in the market? Have you made the technology investments to empower scalable growth? If not, consider leveraging the latest technologies like Internet of Things (IoT), big data analytics and cloud-based ERP.
The goals are to be scalable enough to ramp up quickly, and to sustain that growth using fewer resources.
Technologies that help manufacturers solidify a foundation for sustainable growth include cloud-based ERP solutions that integrate seamlessly with CAD and design systems, MES solutions for the shop floor to eliminate waste, and tight estimating and configuration software for more profitable jobs.
Increase your manufacturing efficiency, quality and profit margins while monitoring processes, inventory management and overall manufacturing operations.
Take Advantage of the Opportunity for Growth!
The Manufacturing Sector is growing. Maximize your growth opportunities and be the competitive market leader by focusing on the technologies and best practices fit to drive lean manufacturing, eliminate waste, increase customer satisfaction and make better, more informed and real-time business decisions. Are you ready?
If you are ready to grow your manufacturing business, contact CompuData today.