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White Paper: How The Electronics Industry Can Flourish In A Down Economy With Outsourced Variable Cost Platforms
Like most industries, electronics is being severely impacted by the current economic downturn. According to the Consumer Electronics Association, shipment revenues are expected to be flat in 2009, decreasing .06 percent to $171B. Considering the 5.4 percent increase from 2007 ($163B) to 2008 ($172B), this is a significant drop.
On the manufacturing front, the U.S. government cites that industrial production of home electronics fell 1.9 percent in February 2009. Overall, manufacturing output decreased .7 percent in February, down 13.1 percent from last year.
While it is standard procedure, even in normal economic conditions, for manufacturers both large and small to curtail operational expense, there is an even greater need in an extremely volatile economy. Because of current sporadic market conditions, aggressive strategies should be executed to cut costs and increase cash flow.
In a challenging market, all of a manufacturer's focus should be on improving core capabilities including research & development, managing sales channels and maximizing customer loyalty.
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