Just like many sectors, manufacturing has taken a battering as a result of the global financial crisis. However, it seems as though conditions may be looking up. According to new figures, manufacturers have reported a rise in production levels.
When orders are up, it is particularly important that companies have access to suitable supplies such as drill bits and machine cutting tools. It is only by making sure they are fully equipped that firms can stay on top of their orders and meet their deadlines. Luckily for managers, it is now straightforward to access products like this. As long as they know where to look, bosses can get everything they need quickly and without hassle over the web.
According to the Confederation of British Industry (CBI), manufacturers saw a significant rise in production levels in the three months to August. Meanwhile, their order books improved too. For its Industrial Trends Survey, it polled a total of 400 organisations and it revealed that 25 per cent reported total order books above normal, while 26 per cent said they were below. This gave a rounded balance of zero percent, which was the highest figure since August 2011, when a balance of one per cent was recorded.
Meanwhile, the balance for export order books was minus seven percent. This was the highest figure since 2012, when minus four per cent was recorded.
The CBI went on to reveal that output volume rises were “broad-based”, with 12 of the 16 subsectors reporting rises. Some of the smaller sectors experience particularly strong growth, including building materials, metal manufacture and electrical goods. These subsectors recorded balances of 49 per cent, 51 per cent and 51 per cent respectively.
Commenting on the findings, director of economics at the organisation Stephen Gifford said: “Manufacturers have seen a real upturn in fortunes this quarter, as output grew at its fastest pace for two years. Domestic and export orders have rebounded almost across the board, and manufacturers expect this strength to continue during the next three months.”
However, on a more cautious note, the expert added: “UK manufacturers seem to be experiencing a build-up in momentum, but risks in the global economy still mean that it won’t be plain-sailing for some time to come.”
During difficult times, it is especially important for bosses to source great value drill bits, machine cutting tools and other resources. In many cases, firms simply cannot afford to spend over the odds on these supplies. However, managers must be careful that they do not compromise quality to save cash, as this could prove to be a false economy in the long run. Poorly designed and built tools do not produce the desired results and they also fail to stand the test of time, meaning they need to be replaced within a short space of time.
By making sure they choose a reliable supplier and by investing in quality tools, bosses can save themselves significant time and stress. Meanwhile, they can also benefit from impressive prices over the web.
Author Bio: Clare Roberts is a freelance writer based in the UK. She writes for a wide number of websites including Buck And Hickman and many others.