Ever wonder whether or not having manufacturing within your local community is valuable? Significant research has been performed regarding the economic benefit of manufacturing, and it is the driver of a healthy, vibrant community. The impact of manufacturing is so significant on both local and regional economies that it has been given a name: The Manufacturing Multiplier Effect.
Business-to-consumer (B2C) companies like Uber, Amazon, and Netflix have changed the way that consumers think about customer service. Other companies have taken the hint and prioritized customer service and convenience, from tech companies like Apple and Dell, luxury brands like Ritz-Carlton and Mercedes-Benz, customer relationship savants like American Express and GoPro, and everyone in between. This shift in B2C relationships has also impacted business-to-business (B2B) relationships, causing customers to expect more from their manufacturing suppliers.
New technology, changes in the labor market, and new trends often reach large manufacturing corporations first, however, big businesses also encounter big challenges when making changes. Implementation often requires full participation from every employee, sector, and region. With foresight and planning, smaller local manufacturers can act with more agility and implement new technology and use trends to their advantage on a smaller scale, faster.