Staying Competitive in Manufacturing

Small business loans for your specific industry.

In an effort to return to the tradition of “made in America,” President Obama proclaimed June 18th as America’s National Day of Making. Manufacturing is a huge part of the American heritage and though it has undergone changes, it continues to play a considerable role in the national economy.  Large corporations like Whirlpool, Siemens, and CAT are moving production back to the States from overseas. However, the landscape of manufacturing has changed as processes become more automated. Here are some tips on how to stay competitive in this new landscape.

Train your staff to be technical experts. Qualified workers are in high demand.

As automation becomes more prevalent in manufacturing, so does the need for skilled workers who can understand, operate, and fix the technology. Programs like Right Skills Now offer accelerated training sessions to give staff the machining expertise they need without hours away from the job. The Automotive Manufacturing Technical Education Collaborative (AMTEC) is an example of an industry-specific program that serves to train workers in the automotive field. Investing in staff is a great motivator for productivity.  Staff that are invested in feel motivated to perform for the companies that appreciate the value they bring to the workplace.

Invest in powerful software. If you haven’t done so in a while, it might be time to upgrade to a more powerful and effective software that will enable your machines to produce products swiftly and precisely. Delcam is one such software manufacturer that may provide solutions for streamlining operations.

Market the value of a “made in America” product. There could be any number of reasons why a business decides to keep their manufacturing domestic and they could resonate with customers’ values. Some customers may be willing to pay a premium on a product that they know was created with domestic labor, complying with US laws and standards. Supporting the local economy and employment of local workers could be something your customers are eagerly willing to support if they know the story behind your business’ manufacturing.

The information contained on this page is for general informational purposes only. It is not legal advice and should not be relied upon in making borrowing decisions. Fundation loans are subject to lender approval.

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Fundation combines the benefits of a bank loan with the ease and efficiency of an online lender. We offer conventional loans with competitive rates to businesses with varying credit profiles. Our technology allows us to deliver capital in as few as 3 business days through streamlining the collection and evaluation of customer information and conducting the majority of the lending process electronically. As a direct lender, we use our own capital to originate and hold the loans we make, so that we can focus on building relationships with our customers. Our dedicated customer relationship model enables us to understand each unique borrower’s business. This level of service, coupled with our best-in-class products, is why many of our customers come back to us repeatedly for more capital.

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