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(MFGWatch: Atlanta) -- Results of a survey recently conducted by MFGWatch give a snapshot on the state of sourcing, sourcing preferences, company growth projections, and reactions to economic conditions. More than 200 purchasing professionals and engineers from the manufacturing industry participated in the survey from MFGWatch, the largest global online marketplace for the manufacturing community.
The majority of survey participants (55 percent) described their company as a product designer/OEM, 18 percent worked for outsourced manufacturers, 11 percent specified their company as a mixture of product design and manufacturer, and the remaining 16 percent described their companies as suppliers, research and development companies, and engineering support. Respondents hailed from all corners of the manufacturing industry: medical, energy, government/military, oil and gas, power generation, aerospace, agricultural, automotive, food processing, mining, textiles, woodworking, sports equipment, electronics, consumer products, and more.
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Balanced Economy
It is said that within this year our economy will recover. I just hope that it will because a lot of people are really having trouble with their finances. That is why it is not a surprise if a lot of people clamor for a balanced economy, and that isn't a bad idea. A balanced economy would dictate that what is spent is only what is earned, and borrowing is only done to pay emergency bills. It was an overleveraging of credit that got us into this mess, and a lot of Americans are looking into payday loans instead of credit cards, the traditional avenue. Federal Reserve Chairman Ben Bernanke continues to assure us that the economy will stop contracting by the end of this year and begin recovery, but one wonders if the cash advance we gave to all the biggest firms will result in a better, balanced economy.
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