U.S. Manufacturers See Modest Business Increase Amid Declining Dollar

 MFG.com, an online marketplace for the manufacturing community, has announced the results of its May 2008 Buyer MFGWatch survey. More than 500 respondents completed the sourcing survey, which targeted buyer members. Participants included purchasing professionals (42 percent), engineers (33 percent) and operations

News Item From: 7/21/2008 Modern Machine Shop

 MFG.com, an online marketplace for the manufacturing community, has announced the results of its May 2008 Buyer MFGWatch survey. More than 500 respondents completed the sourcing survey, which targeted buyer members. Participants included purchasing professionals (42 percent), engineers (33 percent) and operations managers/others (25 percent) who use MFG.com to source for manufacturing services and parts. Results reveal that as the U.S. dollar has continued to decline in value, it has affected where both American and international buyers have decided to source. Of the more than 500 respondents, 40 percent indicated that the value of the dollar had an effect on where they source their businesses; 47 percent indicated that they were sourcing more business in the United States; 41 percent indicated that they source for made-to-order parts in the United states; and 72 percent indicated that they plan to source for parts and services through MFG.com in the coming year. Additional survey findings indicate that 55 percent of respondents source solely to U.S. suppliers, and 92 percent conduct at least a portion of their sourcing in the United States. Other MFG.com marketplace research revealed that Request for Quotes (RFQs) awarded to U.S. manufacturers from international buyers from January to May 2008 nearly doubled compared with the same timeframe in 2007. Additionally, 38 percent of international buyers surveyed are currently sourcing to U.S. suppliers, and 53 percent of Canadian buyers surveyed revealed that they, too, are sourcing to U.S. suppliers. For more information from MFG.com, visit the company's MMSOnline Showroom.

LEARN MORE

Related Suppliers

MFG.com

MMS ONLINE
Channel Partners
  • Techspex