13th survey of buying group Member companies indicates positive outlook as revenues are projected to continue rising and half of all companies are planning new hires
CHICAGO, September 30, 2014 - Prime Advantage, the leading buying consortium for midsized manufacturers, announced the findings of its thirteenth edition of the Purchasing and Manufacturing Survey, revealing financial projections and top concerns of mid-sized manufacturing companies. The results show continued optimism about revenues and employment despite concerns about rising costs and lack of qualified workers.
"Our Members are making some of the highest projections for the next six months that we've ever seen," said Louise O'Sullivan, founder, president and CEO of Prime Advantage. "Revenue forecasts, capital expenditure plans and labor force expectations are all at record levels. Our Members are becoming more energy efficient, more sustainable and more technologically advanced. This is all a true testament to the invaluable supply chain partnerships and resources created through our group's collaboration as we march in unison to make an everlasting impact in the world of manufacturing that will be built upon for generations to come."
Prime Advantage surveyed purchasing executives and professionals from Member companies, with annual revenues ranging between $10 million and $4 billion, of which the majority ranges between $20 million and $500 million. The survey received responses from top professionals representing U.S.-based manufacturers in more than 25 different industries, including commercial foodservice equipment, packaging, truck and trailer, material handling, food processing and construction equipment. Prime Advantage has polled its Members for their impressions of current economic conditions since February 2008.
*Graphics of survey data available upon request.
In the past 14 years, Prime Advantage has paid more than $155,000,000 in rebates and discounts to its manufacturing industry Members.
About Prime AdvantageFounded in 1997, Prime Advantage is a buying consortium for manufacturers with more than 750 Members and more than 130 Endorsed Suppliers. For more information on Prime Advantage, visit the website at www.primeadvantage.com