2010 manufacturing outlook survey shows some recovery

Source: ASQ

Dec 15, 2009

A new ASQ (American Society for Quality) survey shows that a majority of manufacturers are optimistic about a small economic uptick in 2010 at their organizations. However, respondents believe further cost-cutting measures will continue to be implemented. A majority of respondents (64.7%) employed in the manufacturing sector predict their organizations will experience some financial recovery in 2010. More than 1000 manufacturing professionals around the world responded to the online survey from Dec. 2-13.

Other events that respondents predict their organizations will experience in 2010:

  • 61.3% believe their organization will create processes to reduce costs
  • 44.8% expect a pay freeze 
  • 41.4% predict a hiring freeze at their organizations 
  • 35.2% will have mandatory budget cuts 
  • 27.8% expect staff layoffs 
  • 24.7% anticipate reduced employee benefits

Respondents were also asked what one tip they would give to manufacturers to ensure revenue growth in 2010. The top four tips from respondents were:

  • Continue to take part in continuous improvement practices and increase use of quality processes
  • Increase customer satisfaction 
  • Implement more lean processes 
  • Reduce costs