product innovation blog

Manufacturing Industry Update

Share

Last week we attended the Annual Manufacturing & Distribution Executive Summit organized by McGladrey, an assurance, tax and consulting firm. The event opened with a presentation of results from McGladrey’s 2012 Manufacturing & Distribution Monitor Report by Karen Kurek, National Manufacturing & Distribution Practice Leader. This is a survey of 924 manufacturers and distributors in the US.

Some interesting findings relevant to new product development and manufacturing include:

  •  Greatest growth in sales over the next 12 months is expected in these sectors:
    • Biotech/life sciences/medical equipment & supplies – 12.2%
    • Transportation equipment (excl. aerospace) – 9.6%
    •  Food & beverage – 9.4%
  • Manufacturers see new products/product lines more important to company growth than new services:
    • 56% of manufacturers rated new products/product lines important or very important (top 2 boxes on a 5 point scale) to company growth
    • 12% of manufacturers rated new services important or very important (top 2 boxes on a 5 point scale) to company growth
  • Businesses on average spend 4.4% of annual sales on R&D
    • Biotech/life sciences/medical equipment & supplies significantly outspends any other sector with 21.4% of sales invested in R&D
    • Energy & cleantech spend 6.4% on average
    • Computers, electronics and electrical components, appliances spend 6.2% on average

 

© 2005-present Strategy 2 Market®, Inc. All rights reserved. – 53 W. Jackson Blvd. Suite 360, Chicago, Illinois
image_pdfimage_print