A new ASQ survey shows a majority of manufacturers are optimistic about a small economic uptick in 2010 at their organizations.

A new American Society for Quality (ASQ) survey shows a majority of manufacturers are optimistic about a small economic uptick in 2010 at their organizations. However, respondents believe further cost-cutting measures will continue to be implemented. The results show a majority of respondents (64.7%) employed in the manufacturing sector predict their organizations will experience some financial recovery in 2010. More than 1000 manufacturing professionals around the world responded to the online survey from December 2-13.

Other events that respondents predict their organizations will experience in 2010 include:

• 61.3% believe their organization will create processes to reduce costs
• 44.8% expect a pay freeze
• 41.4% predict a hiring freeze at their organizations
• 35.2% will have mandatory budget cuts
• 27.8% expect staff layoffs
• 24.7% anticipate reduced employee benefits

Respondents were also asked what one tip they would give to manufacturers to ensure revenue growth in 2010. The top four tips from respondents were:

• Continue to take part in continuous improvement practices and increase use of quality processes
• Increase customer satisfaction
• Implement more lean processes
• Reduce costs

“Since the manufacturing sector greatly impacts the economic climate, this survey may serve as a good predictor of the overall 2010 financial outlook,” said ASQ President Peter Andres. “This information will also help ASQ keep a good pulse on the right tools and resources to better serve the needs of our members and customers in the new year.”

Visit www.asq.org for more information.

Links

• American Society for Quality