Even before “The Great Resignation”, the manufacturing industry had been struggling with filling open positions, with job openings increasing at double-digit rates since 2017 according to a Bureau of Labor Statistics employment survey. Post-pandemic, Deloitte and the Manufacturing Institute predict that 2.1 million manufacturing positions will go unfulfilled by 2030, costing the U.S a loss of about $1 trillion in GDP. Without a drastic reversal in this downward trend, this deficiency could set the U.S. manufacturing industry back by decades.
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Before the start of the Covid-19 pandemic, remote patient monitoring (RPM) and telehealth services were already on the rise but in the spring of 2020, the need for RPM technology and virtual physician visits became an unavoidable necessity. Now, even with the pandemic seemingly more under control, many healthcare providers plan to continue to offer virtual solutions and increase their adoption of remote technology making the demand for RPM devices and services one of the biggest trends in medical device manufacturing of 2021, moving into 2022.
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The last few years have unquestionably tested our dependency on a commercial goods supply chain constantly in motion. From pandemics and severe weather to canal blockages and labor strikes, even the most successful companies are currently feeling the effects of the currently clogged chain, regardless of industry. In the wake of the Covid-19 shut down, factories closed or slowed production and the re-opening of the economy has been anything but seamless. There just isn’t enough – people (longshoremen, drivers, and postal workers), places (warehouse space), or things (lumber, computer chips, paint, etc) – to fill the demand for many of the goods that consumers need and want today.
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Businesses tend to perceive market research as a “one and done” part of the process in the early stages of a project, campaign launch or overall business rebrand - limited to an output of data that will be used to inform development and sales teams of who their target audience is and what messages they want to hear. While this information is clearly important, the methods used in early market research can also be utilized by sales teams to increase renewals and upsells on an ongoing basis from existing clients. With the support of internal research teams or supplier-side consultants, sales teams can employ research techniques that will not only provide the insights necessary to increase overall revenue, but also improve the relationship between the company and their clients or customers.
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Leading salespeople understand the importance of building and maintaining excellent customer relationships–but how do you keep the sale when your manufacturing procurement contact has retired or moved onto another company? To keep your customer, you will need to pay close attention to who they are, then tailor your communication style or your messages to cultivate the new customer relationship. Here are a few tactics that will help you keep the sale.