Despite the worldwide recognition of companies such as DuPont and Ford, the U.S. manufacturing sector is primarily made up of smaller businesses having fewer than 500 employees each. According to the U.S. Census Bureau, in 2014, there were 251,901 firms in the manufacturing sector, with all but 3,749 firms considered to be small. In fact, three-quarters of these firms have fewer than 20 employees.
Yet, the competition isn’t just among themselves. Amazon will continue to be a growing threat to the industrial/manufacturing sector, especially for OEM distributors.
So how can manufacturers compete? MFRTech asked a few B2B manufacturers, and those that help them, what they do to stay competitive.
