manufacturing industry

Bringing awareness to the importance of STEM programs, and how the skills they teach students may encourage the next generation of manufacturers. 

CERRITOS, California- November 8, 2017- The U.S. Department of Education created the STEM program several years ago to bolster global leadership through increased study of science, technology, engineering, and math subjects in K-12 schools. The goal of the program is to help students throughout the U.S. develop essential working skills such as problem solving, the ability to gather and analyze evidence, interpretation of information, and more. To celebrate STEM and bring awareness to these programs, National STEM Day is celebrated on November 8th each year across the U.S. 

While STEM students will have the opportunity to join any industry after graduation, a number of opportunities lie in the growing industrial and manufacturing industries. Estimates show roughly 3.5 million jobs  will be created over the next ten years, however current projections estimate that 2 million of those will not be filled due to a growing skills gap. Additionally, 80% of the manufacturing workforce needs skilled or highly skilled individuals to fill job roles, which STEM or Career Technical Education (CTE) students could potentially fill after graduation. Furthermore, according to the National Association of Manufacturers (NAM), every dollar spent in the manufacturing industry results in $1.89 put back into the U.S. economy. Thus, STEM students who pursue careers in the manufacturing field will also help support the U.S. economy as a whole.  

Furthermore, in a study conducted by Georgetown University examining online job ads, STEM occupations accounted for roughly 28% of college online ads, and grew twice as fast as all other job ad fields. With the need for STEM educated students growing, one of the best ways to support these programs is to get involved at the local level. Active participation supporting STEM programs can range from speaking to students on career days, sponsoring events, or offering internships and job shadowing opportunities. Toolots for example, is proud to offer students summer internships and to have sponsored events encouraging innovation and education about careers in manufacturing throughout our local community and ABC Unified School District.  

### 

NAM Q3 Manufacturers Outlook Survey shows the highest rate of optimism for 3 consecutive quarters in 20 years. 

CERRITOS, California- October 12, 2017- The National Association of Manufacturers (NAM) recently released their Manufacturers Outlook Survey for the third quarter of 2017 containing updated information on manufacturers' perception of the current state of the industry and its growth within the following year. As the U.S.' largest manufacturing association, NAM represents small to large manufacturers throughout the country and "...accounts for more than three-quarters of all private-sector research and development in the nation" (NAM). Data from the survey is pulled from the responses of approximately "...524 manufacturers from all parts of the country, in a wide variety of manufacturing sectors and in varying size classifications" according to the report.  

In their Third Quarter Manufacturers Outlook Survey, NAM reported an average optimism rate of roughly 90% among manufacturers. This is the highest record of optimism recorded since the survey began roughly 20 years ago in 1997. Comparably, the third quarter average in 2016 was only 59.7%. Furthermore, the positive trends continued throughout the report in regards to exports, production, sales, and more. Respectively, the average expected increase in sales and production was 4.5%, and overall positive outlook for business was 89.8% among manufacturers. 

Moreover, the increases in sales and production anticipated by these manufacturers also produced an anticipated increase in labor demand. Thus, surveyed manufacturers expected to increase their full-time employees by an average of 2.2%, resulting in a matching 2.2% average increase in employee wages excluding nonwage compensation. This reinforces NAM's prediction that the manufacturing industry, which contributes an estimated $12 trillion to the U.S. economy annually, will create roughly 3.5 million jobs over the next decade. 

Similarly, the NAM Manufacturing Outlook Index also indicates strong levels of confidence in business conditions year-to-date, rising from 60.8 in the second quarter to 61.0 in the third quarter. By comparison, the index stood at 41.3 one year ago.-NAM Manufacturers' Outlook Survey Third Quarter 2017

Overall, this quarter's Manufacturers Outlook Survey reveals a positive shift in the industry's outlook, and an anticipation for growth or revival in regards to production, sales, and staffing. Specifically, data within the report suggests that production within the manufacturing industry could grow as much as "...3.6 percent between now and the first quarter of 2018". With increasing optimism in the industry, SMEs in the U.S. have the opportunity to explore business expansion. Toolots is uniquely positioned to offer SMEs assistance expanding their distribution network domestically, or entering into the global market by providing assistance overcoming barriers such as inefficiency, slow innovation, and high prices. For additional information, contact us via phone at (844) TOOLOTS or via email at sales@toolots.com. 

###

CERRITOS, California- October 11, 2017- Toolots, an online marketplace and international cross-border platform for factory-direct industrial tools, machinery, equipment, and technology, announced it recently achieved $1 million in lifetime sales.  

Headquartered in Cerritos California, the company was originally founded in May 2016 by CEO Jason Fu, who has 17 years of industry experience through his machinery supply company Bolton Tools. Through its innovative platform, Toolots aims to bolster the global manufacturing industry by helping SMEs overcome barriers, expand their businesses, and generate more revenue. 

This is accomplished through Toolots' scalable, comprehensive services and ERP system currently being finalized. Vendors who partner with the company maintain their branding rights usually lost in traditional distribution models. In addition, vendor partners gain access to data allowing them to make transparent decisions and focus on daily operation tasks or overall business growth. Essentially, Toolots' model offers its customers quality equipment at competitive prices, thereby manufacturing SMEs to focus these funds on additional employees or services. Furthermore, the issue of after-sales services for purchased machinery and equipment, which often serves as a major concern to customers, is resolved through the company's network of service technicians on its YuuTool  repair app. 

With the achievement of $1 million in lifetime sales, Toolots strives to support SMEs to strengthen cross-border relations and aid in the growth of the global manufacturing industry. 

###

CERRITOS, California- October 10, 2017- The sixth annual National Manufacturing Day (MFG Day) 2017 concluded last Friday wherein approximately 3,000 events occurred nationwide. Of this number, over 170 of the events took place in the state of California alone. MFG Day, which occurs each year on the first Friday of October, strives to celebrate the modern manufacturing industry while simultaneously educating individuals on the current state of the industry and its future.  

Often events include small and medium-sized enterprises (SMEs) opening their facilities to their community members, students, and educators to provide an in depth look into their average day. In addition, SMEs may also attend events hosted by local colleges or universities to demonstrate the function and use of their products, or discuss career opportunities in their field and dispel misconceptions. 

This year, Toolots sponsored transportation for over 30 high school students from Artesia, Cerritos, and Gahr high schools within the ABC Unified School District (ABCUSD) to attend MFG Day at Cerritos College. Attending students had the opportunity to tour five departments within the college’s Technical Division that displayed woodworking, welding, engineering, and machine tooling technology. Students were provided with knowledge regarding the use of several machines, including a live demonstration of machines in operation by professors and general safety tips. 

30+ students from ABCUSD attend MFG Day at Cerritos College

High school students from ABCUSD listen to a professor for Cerritos College's MFG Day event

Sponsorship of the event is one example of Toolots’ efforts to actively partner with the ABCUSD to educate and encourage youth interested in fields such as manufacturing, engineering, and technology to support these industries and promote growth. Current projections estimate the manufacturing industry will create roughly 3.5 million jobs over the next ten years, offering interested students a variety of potential career paths to choose from. However in addition to educating students about the industry, Toolots helps bolster manufacturing by offering U.S. SMEs assistance in overcoming barriers, such as inefficiency, slow innovation, or high prices, which previously hindered their ability to expand domestically or abroad. This assistance is facilitated through the company’s innovative platform and business model which supplies partnered SMEs with scalable, comprehensive services such as after-sales services in addition to access to ERPs and corresponding data which will allow them to focus on daily operations or make transparent, executive decisions.  

Thus the effect of events that educate and encourage students interested in manufacturing and technology like MFG Day, in tandem with the support of U.S. SMEs, are vital to sustaining and promoting the growth of the manufacturing industry which contributes roughly $12 trillion to the U.S. economy annually.  

###