Tuesday, 06 August 2013 13:08
FOR IMMEDIATE RELEASE
Tuesday, August 6, 2013
2013 NEXT GENERATION MANUFACTURING ASSESSMENT for Vermont Manufacturers runs August 8th to August 29th
Randolph Center, VT – The Vermont Manufacturing Extension Center (VMEC) is providing small- and medium-sized manufacturers a FREE opportunity to compare themselves to similar manufacturers in six, key strategic “Next Generation Manufacturing” areas by participating in the 2013 Next Generation Manufacturing (NGM) Study.
The NGM Study, also conducted in 2009 and 2011, gives manufacturers in Vermont and across the nation an opportunity to achieve success in strategies that can help them capture competitive advantages, best practices to support execution of those strategies, and performance goals against which to measure their progress. The six NGM strategies include: 1) Customer-Focused Innovation; 2) Superior Processes / Improvement Focus; 3) Human Capital Management; 4) Supply Chain Management & Collaboration; 5) Sustainability; and 6) Global Engagement.
Manufacturing executives can participate in the 2013 NGM Study by completing a quick, FREE and Confidential online survey. Respondents are not required to share financial information. After completing the survey, manufacturers who provide their contact information will receive a FREE Performance Report or “scorecard” that describes how they rank against similar manufacturers in the NGM strategic areas. Manufacturers who chose to take the survey anonymously (and not provide contact information) will receive a FREE Data Report that includes all study results, but not their individual data. The 2013 NGM Study results will also help state and federal stakeholders develop and implement improved policies and programs to support successful Next Generation Manufacturing in Vermont in the coming years. The final deadline for participation is August 29, 2013, now extended to September 10. To participate or for more information, visit www.ngmstudy.com. Summary results from the 2009 and 2011 NGM studies are available at https://vmec.org/services/next-generation-manufacturing
According to VMEC Director & CEO Bob Zider, “The NGM Study results provide valuable data for manufacturers, business leaders, and state and national policy makers. Participating manufacturers can see how they rank against world-class performance benchmarks. It is our hope that policy makers will be able to further strengthen and improve programs and services supporting local manufacturers knowing where the critical needs are. This study will also assist VMEC in its planning for new products and services that we need to be offering Vermont manufacturers.”
Manufacturing in the state of Vermont is vital to the economy and its well-being. Manufacturers account for about 2,000 firms in Vermont. Most are small, with about 60% having less than 10 employees; about 87% have 50 or less employees and fewer than 15 have 500 employees or more. Vermont manufacturers employ about 32,000 Vermonters or about 10.4% of Vermont’s total workforce of about 306,300 (as of April 2013). Average annual earnings in Vermont manufacturing is about 36% above statewide average earnings (i.e. $51,829 in manufacturing vs. $38,124 on average). Based on company-reported data to an independent third party, as a direct result of VMEC services, every one dollar invested in VMEC assistance and services returned $68.00 to the company on its investment during the period July 1, 2009 through June 30, 2012.
The NGM Study is part of a national research effort coordinated by the American Small Manufacturers Coalition(ASMC), the Association for Manufacturing Excellence, in partnership with VMEC and other NIST MEP-affiliated centers like VMEC across the nation. The NGM Study is conducted by The Manufacturing Performance Institute Group (MPI), a global research firm and thought leader on manufacturing performance, management and customer value.