Conducted in the third quarter of 2008, TBM Consulting Group’s sixth annual Multinational Manufacturing Pulse, cited “cost pressures” as the major concern of 1,406 executives from mid-sized to large companies in the US, UK, Germany, France, Mexico and Brazil. The majority of respondents (53%) saw these pressures as the biggest hurdle to success in the year ahead. 33% identified rising energy costs as a source of angst, a dramatic increase from last year’s response of 11%. Quality and people issues continued to be challenges as well.
More than half (55%) of all manufacturers said they felt challenged by the current economic climate. The study revealed that executives are taking measures to keep market share and maintain a competitive edge. Three key areas involved improving quality (46%), shortening lead times (45%) and increasing ways to better connect with customers (38%).