Hot off the Press


 

SHARE:  

Tooling Suppliers Need Help, Study Says

Tooling Suppliers Need Help, Study Says

Wednesday, August 7, 2002
 
Economic hardship facing tool and die makers results from a dramatic industry restructuring, and will not lessen despite a predicted upturn in the nation’s economy. That is the finding of an industry study conducted by The Right Place Program, a non-profit economic development agency serving Greater Grand Rapids, MI, area. In the study, the agency, working for the past three years to support the tool, die and mold making industries, noted that despite their economic impact, the industries remain in the shadow of the Big Three and Tier One suppliers. These industries, according to the study, are suffering financially due to changing customer relations driven by increased foreign spending, pricing pressures, design and value-added expectations, delayed payments and shortened lead times. Tooling firms cannot overcome these factors alone, according to John Cleveland, the study’s author. “Buyers also are part of the equation,” he says, “and need to make tooling suppliers long-term strategic partners. If they do that, they’ll find that domestic tooling firms can add value in terms of product design and efficiency to the manufacturing process.” This fall, The Right Place Program will host a forum of industry leaders to review and discuss the study, and convene a West Michigan Tooling Council. For more on these events, visit www.rightplace.org.

 

Visit Our Sponsors