Business Outlook 2011 – Innovation Advantage

A recent publication, “Business Outlook 2011 – Innovation Advantage” that was put together by Canadian Plant magazine and Rogers Communications shed some interesting light on the manufacturing industry. It is based on a survey of manufacturing companies as well as a roundtable discussion with senior executives of leading manufacturing companies. Memex Automation was invited to participate as a supplier to the manufacturing industry, specifically David McPhail, President.

Some interesting notes about this outlook:

  • 77% of manufacturers identified improving productivity as a major issue.
  • 86% identified innovation is an important aspect of their competitive strategies.
  • Most panelists agree lean manufacturing is key to productivity improvement and innovation but adoption among survey respondents is just under half at 49%, suggesting there is much room for improvement here.
  • 91% of manufacturers have investment plans for 2011.
  • Process improvement tops the list of priorities for 2011.
  • Only about 40% of companies took advantage of the federal tax credit.

Much discussion was had about applying tax credits towards improving manufacturing productivity, all as a competitive advantage.

If you would like a hardcopy glossy reprint of the article, feel free to email to and we will mail it out, or go online.