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The State of Manufacturing: How U.S. Manufacturers Are Competing

The State of Manufacturing: How U.S. Manufacturers Are Competing. 2007 Manufacturing & Environmental Conference October 16, 2007 Coralville, IA. Survey Demographics. National survey 947 respondents 65% manufacturing – 35% distribution Coverage across five regions – highest in Midwest

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The State of Manufacturing: How U.S. Manufacturers Are Competing

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  1. The State of Manufacturing: How U.S. Manufacturers Are Competing 2007 Manufacturing & Environmental Conference October 16, 2007 Coralville, IA

  2. Survey Demographics • National survey • 947 respondents • 65% manufacturing – 35% distribution • Coverage across five regions – highest in Midwest • High “C” level participation • 10 industries represented • 78% from $15 million – $500 million in revenue

  3. Business condition Iowa 2007 41.3% 2006 65.6%

  4. Business condition

  5. Business condition Iowa 2007 = 41.3 2006 = 65.6

  6. Growth strategies

  7. Global strategy Iowa = 39.1 vs. 45.9 Iowa = 45.6 vs. 40.1

  8. Global strategy

  9. Mergers & Acquisitions

  10. Health care costs Iowa vs. National Ave. Wellness 57.4 vs. 36.9 Disease Mgmt 23.4 vs. 14.1 Audit TPA’s 12.8 vs. 8.0 Become self-insured 11.9 vs. 0.0

  11. Operational effectiveness

  12. Operating costs Supply chain issues

  13. Information technology

  14. Risk management • Key risk management programs • Independent audit committee • Assessment to prioritize high-risk areas • Internal audit function • 54% of companies have not implemented any • 13% of companies have implemented all three

  15. Workforce Nationally 63% report expanding/15% report decreasing their workforce in next 18 months vs. 65% expanding and 9% decreasing for Illinois companies

  16. Tax strategies

  17. Recap of key findings • Manufacturing and distribution as healthy as 2006 for most segments • More companies rely on domestic vs. international growth strategies • Opportunity exists to improve supply chain management • Make sure to utilize health care cost management programs • Information Technology is increasingly critical • Risk management is not a concern for 54% of companies • Workforce shortages will worsen • Tax savings opportunities are not fully utilized

  18. Questions?

  19. Contact Information: Tom Murphy RSM McGladrey, Inc. Executive Vice President Manufacturing & Wholesale Distribution 612.376.9226 tom.murphy@rsmi.com

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