NMW 2003: A majority of companies expect 2003 revenue growth

Chicago, IL — About 68% of companies expect revenue growth in 2003, compared to 2002, according to a survey done by National Manufacturing Week organizers Reed Exhibitions (Norwalk, CT). Results were analyzed by AMR Research (Boston, MA).

03/04/2003


Chicago, IL - About 68% of companies expect revenue growth in 2003, compared to 2002, according to a survey done by National Manufacturing Week organizers Reed Exhibitions (Norwalk, CT). Results were analyzed by AMR Research (Boston, MA ).

''This is more optimism than we've seen in doing these surveys in the past year and a half,'' according to Bill Swanton, vp and research fellow, AMR Research. Among small manufacturers (under 500 employees), 27% think the economic turnaround has already begun. That's significant, he said, because smaller companies tend to lead an economic recovery. Overall, capital-spending expectations for 2003 increase slightly over 2002, responses showed. There was considerable variability in results, but a noticeable optimistic tendency. Mr. Swanton made the comments in a March 3, 2003, press conference at the opening of National Manufacturing Week here.

Other trends, Mr. Swanton said, that results showed:

  • Globalization is an opportunity, rather than a threat;

  • Potential war with Iraq will hurt companies economically more than it will help.

  • No massive shift in outsourcing trends. About 17 of plant maintenance and operations is outsourced; 14% of large companies expect to outsource significantly more, versus 7% of small companies.

  • That the favored approach for industrial automation and manufacturing IT is largely still ''do it yourself,'' with more than 55% choosing to design and integrate purchased components in-house. Third party and automation vendors need to do a better job convincing companies there's value in outsourcing, he said.

  • For IT-related spending, one-third expect an increase, and half expect no change in 2003, compared to 2002.

  • More than 65% use strategic sourcing techniques to reduce costs or improve quality of purchased material. More than 40% are reducing the number of suppliers. More than 35% are interacting with suppliers over the Internet.

  • That when building or acquiring new plants, small companies stick close to home; large companies have major efforts in China. About 55% of small companies are building or acquiring in the U.S. or Canada, compared to 40% for large companies. In China, under 30% of small companies are building or acquiring, compared to nearly 50% for large companies. Mexico was the next highest region, with about 24% and 33% for small and large companies, respectfully.

Data were collected in a survey posted at www.manufacturingweek.com for about six weeks ending Feb. 27. Demographics roughly equal those attending National Manufacturing Week, Mr. Swanton said. Of 750 responding to the survey, 73% worked for companies under 500 employees, 13% for companies employing 500-2499, and 14% for companies larger than 2,500 employees.

Industries split as follows:

  • 41% General manufacturing;

  • 14% Chemicals; 10% High tech;

  • 9% Automotive;

  • 5% Wholesale distributor; and

  • 21% Other.

''I think people will be cautious, but more positive about revenue growth than with capital spending, until they get their margins back. That's expected,'' Mr. Swanton concluded.

Control Engineering Daily News Desk
Mark T. Hoske, Editor-in-chief
MHoske@cfemedia.com





The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by Control Engineering subscribers. Vote now (if qualified)!
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Maximize ROI with integrated control system approach; Microcontrollers vs. PLCs; Power quality; Accelerate and rewire IIoT; Traits for excellent engineers
HMI effectiveness; Distributed I/O; Engineers' Choice Award finalists; System Integrator advice; Inside Machines
Women in engineering; Engineering Leaders Under 40; PID benefits and drawbacks; Ladder logic; Cloud computing
Programmable logic controllers (PLCs) represent the logic (decision) part of the control loop of sense, decide, and actuate. As we know, PLCs aren’t the only option for making decisions in a control loop, but they are likely why you’re here.
This digital report explains how plant engineers and subject matter experts (SME) need support for time series data and its many challenges.
This article collection contains several articles on how advancements in vision system designs, computing power, algorithms, optics, and communications are making machine vision more cost effective than ever before.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Control room technology innovation; Practical approaches to corrosion protection; Pipeline regulator revises quality programs
Cloud, mobility, and remote operations; SCADA and contextual mobility; Custom UPS empowering a secure pipeline
Infrastructure for natural gas expansion; Artificial lift methods; Disruptive technology and fugitive gas emissions
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by Control Engineering subscribers. Vote now (if qualified)!
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Maximize ROI with integrated control system approach; Microcontrollers vs. PLCs; Power quality; Accelerate and rewire IIoT; Traits for excellent engineers
HMI effectiveness; Distributed I/O; Engineers' Choice Award finalists; System Integrator advice; Inside Machines
Women in engineering; Engineering Leaders Under 40; PID benefits and drawbacks; Ladder logic; Cloud computing
Programmable logic controllers (PLCs) represent the logic (decision) part of the control loop of sense, decide, and actuate. As we know, PLCs aren’t the only option for making decisions in a control loop, but they are likely why you’re here.
This digital report explains how plant engineers and subject matter experts (SME) need support for time series data and its many challenges.
This article collection contains several articles on how advancements in vision system designs, computing power, algorithms, optics, and communications are making machine vision more cost effective than ever before.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Control room technology innovation; Practical approaches to corrosion protection; Pipeline regulator revises quality programs
Cloud, mobility, and remote operations; SCADA and contextual mobility; Custom UPS empowering a secure pipeline
Infrastructure for natural gas expansion; Artificial lift methods; Disruptive technology and fugitive gas emissions
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by Control Engineering subscribers. Vote now (if qualified)!
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Maximize ROI with integrated control system approach; Microcontrollers vs. PLCs; Power quality; Accelerate and rewire IIoT; Traits for excellent engineers
HMI effectiveness; Distributed I/O; Engineers' Choice Award finalists; System Integrator advice; Inside Machines
Women in engineering; Engineering Leaders Under 40; PID benefits and drawbacks; Ladder logic; Cloud computing
Programmable logic controllers (PLCs) represent the logic (decision) part of the control loop of sense, decide, and actuate. As we know, PLCs aren’t the only option for making decisions in a control loop, but they are likely why you’re here.
This digital report explains how plant engineers and subject matter experts (SME) need support for time series data and its many challenges.
This article collection contains several articles on how advancements in vision system designs, computing power, algorithms, optics, and communications are making machine vision more cost effective than ever before.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Control room technology innovation; Practical approaches to corrosion protection; Pipeline regulator revises quality programs
Cloud, mobility, and remote operations; SCADA and contextual mobility; Custom UPS empowering a secure pipeline
Infrastructure for natural gas expansion; Artificial lift methods; Disruptive technology and fugitive gas emissions
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me