The State of Manufacturing in 2011: Q1 Survey from Netsuite

“During the first quarter of 2011, NetSuite conducted a benchmark survey on the state of business within the mid-market North American manufacturing industry.

The exciting news is that the majority of respondents reported significant optimism for growth in the future. More than 75% believe their business will improve in the near term, and almost 98% reported that they believe their business will either improve or remain steady—a dramatic and significant improvement over results NetSuite saw in its earlier survey of manufacturers in the first half of 2010.

For key objectives, 60% are focused on both revenue growth and cost savings, with about 30% focused primarily on revenue growth only. Maintaining and increasing revenue growth while watching costs and delighting customers are key priorities for manufacturers in 2011.

The optimism among manufacturers has increased significantly from 2009, when companies were focused on cost reductions above all else. The results of this survey indicate that manufacturers are once again focused on investing to create new products and get revenue growing among both new and existing customers.” Link to balance of blogpost and survey on Netsuite site.

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