A Better Future Will Be Built with Better Information

Every few weeks I check in with MMT’s Economics Editor, Bill Wood, and because almost every chat involves the economy, we are usually having an in-depth, motivating and frustrating conversation. During one of our more recent calls, we tossed around ideas on how to get our readership more interested in supplying data to us, so we can supply useful data/analysis back, and so we are updating our Mold Business Index (see page 12) process and seeking your help.  

In Bill’s words:  “Sooner is better than later, and more is better than less. This is The Golden Rule of Business. It is of paramount importance when you are talking about the most crucial aspects of your enterprise: customers, orders, profits and market intelligence.

We need your help with the market intelligence part. If you are to compete effectively, then you must have deep understanding of the trends affecting your business. Up-to-date information pertaining to changes in the direction for new orders is a must, and so are trends in mold prices, materials prices, supplier delivery times, and employment.

The moldmaking industry in North America has suffered through a substantial consolidation in the past 20 or even 30 years. Much, if not all, of this consolidation could have been averted if both the supply side and the demand side of the market for molds possessed better market information. We cannot change the past, but we can build the future. And a better future will be built with better information.

Because the trends in market factors change continuously and rapidly, you need reports that are both frequent and reliable. Quarterly updates are good, but monthly updates are better. It is our desire to provide the market with this kind of market information, but I will state again, we need your help.”

So here is what you can do. Each month, Bill generates and reports the Mold Business Index, which is based on data gleaned from monthly surveys of North American moldmakers, and which is then exclusively reported by MoldMaking Technology magazine.

To participate in this survey all you need to do is go to this link: www.surveymonkey.com/s/38RJ3RK fill out our five-minute survey and submit your information. It is that easy. Once the surveys are tabulated and the Index is calculated, the responses are deleted. Nobody except Bill will ever see your individual responses. The aggregate results, in index format, will be reported in MoldMaking Technology and on its website every month.

So take some time to join us in building a better future via better information.  As always, thank you for your continued support!