ITR Economic Report – February 2019

 

 

The Institute for Trend Research (ITR) quarterly reports focus on major areas of economic growth and decline in key market segments for the Precision Machined Products Industry. They are provided to PMPA members as part of the association’s overall business intelligence program and are used as a management tool to help PMPA members plan for what lies ahead and which markets they should focus on in a complex manufacturing environment. 

 

 

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PMPA Business Trends February 2019

 

“February 2019 Another Sales Record- Positive 3 Months Ahead”

 

With 81 companies responding, the PMPA Business Trends Index for February 2019 came in at 134, up 5 points over February 2018’s 129, down 8 points from January 2019’s 142. The February 2019 value is up 10% over the five-year average for the February BT Sales index! This 134 is a new record for February sales index, just as January’s 142 value was last month. Precision Machining is off to a GREAT start in 2019!

 

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“Progress lies not in enhancing what is, but in advancing toward what will be.”-Khalil Gibran

The PMPA Executive board (with the full support of your PMPA staff) has been working on a new approach to ensure that we continue to provide our members with the technical support, information and networking deliverables that our team has consistently delivered.
Your PMPA executive team has a vision that advances the interests and deliverables available for our members, through collaboration and progress with our long time partners, Gardner Business Media.”
The changes of the past year were unexpected, but despite them, our staff has continued to perform and provide deliverables that make us more competitive in our businesses and operations. Our executive team has come together, evaluated many options, and through a vigorous process of strategic planning, we have identified a way forward-not to merely stabilize PMPA, but actually enhance it and make it even more sustainable.
“Better Together” is the approach that we have identified to combine the strengths of PMPA and those of our long-term partner, Gardner Business Media. Together PMPA and Gardner have served the precision machining industry – each by its own strengths. Considering our history of successful and profitable collaboration on the PMTS show, and Production Machining magazine, the surprise to our executive team was “why hadn’t this been considered before?”
“Better Together” describes our proposal to work with our long time partners at Gardner to develop a Management Services Agreement (MSA). This MSA starts with a six-month initial exploratory phase (Phase 1) that will lead us towards a long-term proposal to combine our strengths and staff to enhance the value we provide to our members. This was approved at our Board meeting in Phoenix last week. In this phase, Gardner will assess PMPA organization and processes to identify opportunities to enhance performance- and create new and improved deliverables though our collaboration. “Better Together” is how we will collaborate- with both Gardner and PMPA staff bringing their unique strengths- to continue to deliver “Concierge Quality” services to our membership.
The synergies of collaborating, and sharing talent are exciting. We envision a future where our staff has more opportunity to work on advanced deliverables for our members- enhancing and extending the resources when combined with the Gardner/ Production Machining team. Gardner brings opportunities to expand our reach and better market PMPA in our industry, and beyond. PMPA can provide Gardner with a better understanding of our manufacturing niche, helping them advance the quality of their Top Shops Benchmarking- that in turn can help our members improve their own performance.
All parties will benefit as we advance the benefits of PMPA and Gardner continuing our work together. Deliberately building on our historic collaboration we believe, will allow us to enhance our performance and service to members.
We have a long history of success together. Our organizations have collaborated for many years to make Production Machining and PMTS successful, jointly produced brands. We think that now is the perfect time to re-focus our collaboration so that together we can deliver even greater value to PMPA members.
I can tell you that I am excited at the possibilities. Our PMPA staff- led by Miles and Renee- are equally excited at the continuous improvements that they think this can have for their work on behalf of you, our members. In addition, the Gardner team continues to advance the conversation- to assure that the PMPA continues to be a vital resource for our members and the industry.
We will have more details as this develops. However, I wanted you to know that your PMPA executive team has a vision that advances the interests and deliverables available for our members, through collaboration and progress with our long time partners, Gardner Business Media. I am excited to be able to announce this development. It will be under PMPA board oversight, and at the end of Phase 1, the PMPA board and Gardner will agree on a second phase to further execute our collaboration.
“Better Together” is our vision to build on our strengths with our trusted partners at Gardner. “Better Together”- to better serve us all. “Better Together” – that is our vision and means of “Effective Associating.”
Mike Reader, President, Precision Machined Products Association
For further information contact

 
 
 
 
 
Miles Free
Interim Director
Precision Machined Products Association
6880 West Snowville Rd. Suite 200
Brecksville, Ohio 44141
440 526 0300

 
 
 
 
Melissa Kline-Skavlem
Chief Marketing Officer
Gardner Business Media
6915 Valley Avenue
Cincinnati, Ohio 45244-3019
513 527 8800
PMPAGDNREXT

“Progress lies not in enhancing what is, but in advancing toward what will be.”-Khalil Gibran

The PMPA Executive board (with the full support of your PMPA staff) has been working on a new approach to ensure that we continue to provide our members with the technical support, information and networking deliverables that our team has consistently delivered.
Your PMPA executive team has a vision that advances the interests and deliverables available for our members, through collaboration and progress with our long time partners, Gardner Business Media.”
The changes of the past year were unexpected, but despite them, our staff has continued to perform and provide deliverables that make us more competitive in our businesses and operations. Our executive team has come together, evaluated many options, and through a vigorous process of strategic planning, we have identified a way forward-not to merely stabilize PMPA, but actually enhance it and make it even more sustainable.
“Better Together” is the approach that we have identified to combine the strengths of PMPA and those of our long-term partner, Gardner Business Media. Together PMPA and Gardner have served the precision machining industry – each by its own strengths. Considering our history of successful and profitable collaboration on the PMTS show, and Production Machining magazine, the surprise to our executive team was “why hadn’t this been considered before?”
“Better Together” describes our proposal to work with our long time partners at Gardner to develop a Management Services Agreement (MSA). This MSA starts with a six-month initial exploratory phase (Phase 1) that will lead us towards a long-term proposal to combine our strengths and staff to enhance the value we provide to our members. This was approved at our Board meeting in Phoenix last week. In this phase, Gardner will assess PMPA organization and processes to identify opportunities to enhance performance- and create new and improved deliverables though our collaboration. “Better Together” is how we will collaborate- with both Gardner and PMPA staff bringing their unique strengths- to continue to deliver “Concierge Quality” services to our membership.
The synergies of collaborating, and sharing talent are exciting. We envision a future where our staff has more opportunity to work on advanced deliverables for our members- enhancing and extending the resources when combined with the Gardner/ Production Machining team. Gardner brings opportunities to expand our reach and better market PMPA in our industry, and beyond. PMPA can provide Gardner with a better understanding of our manufacturing niche, helping them advance the quality of their Top Shops Benchmarking- that in turn can help our members improve their own performance.
All parties will benefit as we advance the benefits of PMPA and Gardner continuing our work together. Deliberately building on our historic collaboration we believe, will allow us to enhance our performance and service to members.
We have a long history of success together. Our organizations have collaborated for many years to make Production Machining and PMTS successful, jointly produced brands. We think that now is the perfect time to re-focus our collaboration so that together we can deliver even greater value to PMPA members.
I can tell you that I am excited at the possibilities. Our PMPA staff- led by Miles and Renee- are equally excited at the continuous improvements that they think this can have for their work on behalf of you, our members. In addition, the Gardner team continues to advance the conversation- to assure that the PMPA continues to be a vital resource for our members and the industry.
We will have more details as this develops. However, I wanted you to know that your PMPA executive team has a vision that advances the interests and deliverables available for our members, through collaboration and progress with our long time partners, Gardner Business Media. I am excited to be able to announce this development. It will be under PMPA board oversight, and at the end of Phase 1, the PMPA board and Gardner will agree on a second phase to further execute our collaboration.
“Better Together” is our vision to build on our strengths with our trusted partners at Gardner. “Better Together”- to better serve us all. “Better Together” – that is our vision and means of “Effective Associating.”
Mike Reader, President, Precision Machined Products Association
For further information contact

 
 
 
 
 
Miles Free
Interim Director
Precision Machined Products Association
6880 West Snowville Rd. Suite 200
Brecksville, Ohio 44141
440 526 0300

 
 
 
 
Melissa Kline-Skavlem
Chief Marketing Officer
Gardner Business Media
6915 Valley Avenue
Cincinnati, Ohio 45244-3019
513 527 8800
PMPAGDNREXT

Published February 2019

By PMPA Staff

For more than 50 years, PFI Precision Machining has evolved and changed to remain a steady supplier of high quality, cost-effective, close-tolerance component parts and mechanical assemblies to a number of different industries, including automotive, food processing equipment, off-highway machinery and aerospace.

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