The recent quarterly forecast issued by Manufacturers Alliance/MAPI suggests that a modest economic recovery and a 3.2-percent rise in manufacturing production are possible next year, but "some indications suggest that consumers' frugal spending behavior during the recession may last well into the recovery period and beyond," warns David Johnston, senior vice president of supply chain at JDA Software. "Given this situation, manufacturers should recalibrate their supply chains now to assist them in operating successfully in today's 'new normal' and lay the groundwork for future growth."
JDA has outlined several critical recession-recovery strategies to enable manufacturers to mitigate the risks and quickly respond to opportunities associated with the current economic recovery. They include strengthening their cash position, realigning their supply chains to achieve financial goals, planning for strategic expansion, and capitalizing on consumers' so-called "new normal" -- being more spend conscious.
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