February 20, 2008

Raw material and energy costs topped the list of cost pressure concerns in 2008, according to a recent survey by Prime Advantage, a buying consortium for small and mid-sized manufacturers, focused on the top economic concerns in 2008. Respondents to the Group Outlook Survey included business owners, vice presidents of procurement and purchasing directors.
 
More than 46 percent of respondents agreed that raw materials (including stainless steel, nickel, copper and other metals and plastics) were a major concern in 2008. Energy costs were the second biggest concern, with 17.5 percent and logistics and supply chain costs followed closely at 16.4 percent in agreement.
 
Inflation (8 percent), labor (4 percent), foreign competition (3.4 percent), overhead costs (2.8 …