Where Can Moldmaking Leaders Go For Industry Data and Insights?

The manufacturing space is evolving at unprecedented speed especially as the energy and transportation markets rapidly transform over the next several years thanks to greater global awareness of global warming. As the world changes what and how they consume durable goods, moldmakers who stick with the status quo are likely to be left behind. Staying ahead of the curve and staying successful in just the next few years will require both an open-mind to change and a data-driven strategy.

Here I chat with Gardner Intelligence Chief Economist/Director of Analytics (and colleague) Michael Guckes about data in the mold manufacturing marketplace.

Christina Fuges: First, how can the industry get data faster?

Michael Guckes: There are a couple of ways that people can get their hands on the moldmaking index information before the print publication. The first way to visit www.moldmakingtechnology.com because as soon as I provide your team with the data you upload it onto the website and it’s free.

Another way to access our data faster is by purchasing a subscription through Gartner Intelligence for the data, which gives you the data within hours of the time that we receive it, calculate it and send it out to you. Plus, it's all the data, a complete data set. So, if you're a mold builder who really is looking for data-driven strategies, a subscription is a fantastic resource because it allows you to really see what is happening in nuanced detail for the moldmaking space.

Christina Fuges: Does your team sit down and consult with mold builders about data as it can be overwhelming. Do you walk them through what it actually means and what actions they should take?

Michael Guckes: Absolutely. So every time we bring on a new subscriber, we sit down and help them understand what exactly the numbers mean, how to interpret those numbers for their situation. We provide actionable insights. If the data isn't actionable, it's not as valuable as it could be. We want to make sure that everything we're providing our subscribers is actionable and going to help them become a more successful shop.

Christina Fuges: What is happening in the mold manufacturing marketplace, and what specific data points should they keep their eyes on?

Michael Guckes: Our data looks at new orders and production data. Those two are the bellwethers for other data points like employment. New orders leads employment and production, so looking at new orders has been very interesting lately.

We're seeing continued strength in new orders, impacted by supply chain issues as well as production and labor concerns. We continue to see a challenge on the production side in more recent months, and so I coined the phrase production deficit. In our data, we also look at expected spending on new equipment. We are seeing small and medium-sized shops ramping up their expected spending in the next 12 months because they realize that in order to fulfill that production deficit they can't do it with people. They need smarter machines and equipment. I believe that it is really important for the companies that serve the moldmaking industry to realize that those small and medium-sized shops are really looking hard for  solutions. That is just some of the actionable insights we see through our data.

Christina Fuges: Visit www.gardnerintelligence.com for more moldmaking-related data.