The Institute for Supply Management said U.S. manufacturing has jumped for 19 straight months, culminating in reaching the highest level in seven years in February. This is a major turnaround from the dismal years of 2008 and 2009.
Manufacturing is riding a wave of momentum in consumer demand and production demand that will hopefully continue through 2011. Some worry that international unrest, high oil prices and a weak housing market could hinder the economic growth that has propelled the manufacturing industry’s recovery.
Make sure you’re ready for sudden rises and drops in production by using manufacturing inventory software. If you move too slowly, you could produce too many products and then have to take a loss on them. You could also miss out on opportunities to generate more revenue if demand suddenly increases and you don’t have enough products to handle it.
Manufacturing inventory software helps you maximize your efficiency. It makes inventory management easier by monitoring inventory levels, giving you access to detailed information and helping you keep an optimal amount of inventory on hand. Whether or not the manufacturing recovery will continue, your business can gain more success by taking advantage of manufacturing inventory software.