Manufacturers and distributors need to have inventory available to ensure a steady flow of goods to producers and consumers. Selling inventory also keeps a steady flow of capital coming into your business. However, handling and storing materials can be costly.
Despite slower than expected movement on the legislative front, manufacturers in the United States continue to show historic levels of optimism. In the most recent National Association of Manufacturers’ (NAM) Quarterly Outlook Survey, which covers data from April – June 2017, over 89% of manufacturers said they had a positive outlook for their own company. This is only a slight drop from a few months earlier, when manufacturers reported an unprecedented 93% rate of optimism.
The manufacturing industry isn’t what it was ten years ago. Not only has changing and increasingly advanced technology made finding and recruiting qualified employees more difficult than ever, but uncertainty about the future of tax law and governmental regulations can make planning for the future difficult. Despite this, there are key ways manufacturers can grow their business and thrive.
