This Thomas Index Report is sponsored by PMF Industries, a leader in innovative solutions to reduce manufacturing costs through its FlowformingPLUS technology.
Hello again. This week we’re going to take a look at sourcing for Turnkey Manufacturing services by users of the Thomasnet.com platform. Our data shows that over the past 12 weeks, sourcing activity for this category is up 47 percent over its historical average.
Our firmographic buyer data shows that three of the top industries driving this sourcing trend on our platform are Industrial Equipment Manufacturing, Energy & Utilities, and Automotive.
Turnkey Manufacturing is a service that allows a business to outsource everything from a new product or part’s design, materials acquisition, manufacturing process and testing, to packaging, distribution, and service – all with a single supplier. It enables a business to streamline its supply chain while using minimal internal resources and overhead. With new business-friendly tax laws and reduced regulatory burdens, the bar for entry into business for small business startups has been lowered, which could explain some of the increase our data shows in sourcing for this complete A to Z service for bringing a new product, part, or component to market. While the strong economy and a booming manufacturing sector continue to benefit businesses of all sizes, fierce competition both domestically and overseas is forcing companies to streamline and stay agile. Contracting with Turnkey Manufacturers to reduce fixed costs and focus internal energies on growing the bottom line, is one of the ways they’re doing so.
In related categories, our data also shows that sourcing activity is up 33 percent or more, month-over-month, for Consumer Product Contract Manufacturing, OEM Component & Part Contract Manufacturing, and Aerospace Contract Manufacturing.
Moving on from Turnkey and Contract Manufacturing, here’s a look at the top ten industrial product and service categories being sourced on the Thomasnet.com platform over the past four weeks.
- CNC Machining
- Printed Circuit Boards (PCBs)
- Injection Molded Plastics
- Plastic Bottles
- Metal Fabrication
- Food Products
- Metal Stampings
- Tube Fabrication & Bending Services
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Thanks for watching, and I’ll see you next week.