Orders for manufacturing technology were up again in March, according to Industrial Distribution magazine, citing reports from The Association For Manufacturing Technology. The numbers indicated a 38.5 percent increase since February and a 2.9 percent improvement compared to March 2013 figures. AMT President Douglas K. Woods told Industrial Distribution that the high technology figures and other positive indicators such as strong readings for durable goods and motor vehicle sales all suggest that manufacturing is a leader in economic growth.
The news has also been positive for companies in the U.S. According to CNBC, more small- and midsize-businesses are exporting their goods and manufacturing companies are re-shoring production as labor costs in China continue to rise. E-commerce has played a significant role in the introduction of smaller businesses to the global economy, allowing U.S. companies to improve profit margins despite the slow recovery of American spending.
Staying Competitive in the Global Marketplace
As companies large and small expand their export businesses, they need automated data collection tools to help keep pace with the demands of a global economy. Entering new countries means the need to abide to new regulations and increase access to enterprise data. Advanced data collection can help companies trace orders and raw materials around the world. This can improve inventory control at warehouses and increase productivity at remote sites.
Real-time data collection allows companies to expand globally while still sharing data on a single integrated system. Management throughout different departments and at numerous locations have access to the same relevant and accurate data. In addition to the time saved when accessing and analyzing data, automated data collection also improves employee productivity by replacing inefficient paper-based systems. The ROI is high on this type of technology because operating costs are reduced while productivity and efficiency are improved.