Falling US Dollar Offers Modest Rise in Business - MFG.com
 ATLANTA, GA,
June 24, 2008 - MFG.com, the largest global online marketplace for the
manufacturing community, today announced results of their Buyer MFGWatch
survey conducted in May 2008. Over 500 respondents completed the Sourcing
Survey targeting Buyer members of MFG.com. The participants were Purchasing
Professionals (42%), Engineers (33%), and Operations Managers/Others (25%)
who use MFG.com to source for manufacturing services and standard parts.
Over $15 billion worth of manufactured goods have been sourced through
MFG.com, with millions more sourced everyday by 160,000 global members.
The main results of the MFGWatch survey revealed that as the US dollar
has continued to decline in value, it has actually affected where Buyers,
both in the US and internationally, have decided to source.
Survey highlights include:
- 40% of the participants stated the current value of the US dollar
had an effect on where they choose to source their business.
- 47% of the Buyers stated they were sourcing more business in the US
as a direct result of the declining value of the US Dollar.
- 41% of the Buyers responded that they source for made to order parts
in the US.
- 72% of Buyers surveyed plan to source for manufactured parts and
services online through MFG.com in the coming year.
Additional survey findings include:
- 55% of survey respondents source solely to US suppliers.
- 92% of survey participants conduct a portion of their sourcing in
the US.
Other MFG.com marketplace research revealed a modest growth in Request
for Quotes (RFQs) awarded to US manufacturers from International Buyers. The
number of RFQs awarded on MFG.com from January - May 2008 from International
Buyers to US Suppliers nearly doubled when compared with the same timeframe
for 2007.
The sourcing survey also uncovered the following:
- 38% of International Buyers surveyed are currently sourcing to US
suppliers.
- 53% of Canadian Buyers surveyed revealed that they too are sourcing
to US suppliers.
From rapid prototypes to million piece production runs, buyers across the
industrial spectrum - aerospace, transportation, consumer products,
electronics, and more - utilize MFG.com to source locally or around the
globe for qualified suppliers of more than 300 manufacturing processes
including CNC machining, metal stamping, forging, plastic molding, metal
fabrication, and metal casting.
About MFG.com
MFG.com is the Internet based platform upon which the global
manufacturing industry conducts business. MFG.com’s open platform enables
companies of all sizes from around the globe to intelligently connect,
source, collaborate and perform due diligence with transparency and
intellectual property protection. The MFG.com platform supports virtually
all manufacturing process and industrial components, is in 10 languages, 12
currencies and has over 100,000 users on five continents. MFG.com has
offices in North America, Europe and Asia.
For more information about MFG.com, please visit,
www.MFG.com.
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