Solid progress and improvements in manufacturing over the last ten years should bring smiles
There is nothing better than walking through a manufacturing company that is humming with the throngs of growth. And growth is what Paranet’s Year End Manufacturing Survey is showing. In fact, there is almost a 20 percent jump in manufacturers in growth mode versus 2016.
While our members should be wearing big smiles, they are nervous. The last time there was such strong confidence was in 2007, and everyone remembers 2008. Members wonder if the things that got us in trouble then have been fixed. Are the safeguards put in place really working? Is the financial sector of our world solid and not a game of smoke and mirrors? We are not naïve enough to think that we have learned our lessons; after all, this was 10 years ago. Memories are short. However, the solid progress and improvements in manufacturing should bring smiles.
Manufacturers have embraced quite a bit of change over the past several years. No company can grow and thrive without change. In the past 10 years, we have seen many buyouts and acquisitions. Some went well and some not so well. Usually when both sides of the table are somewhat unhappy, it means that the deal is probably fair. But the deal is just the beginning of the transaction. Many manufacturing companies have struggled with the effect on culture when a buyout/acquisition happens. In talking with manufacturers involved, it seems no one is ever prepared for the reality of this transaction.