COVID-19 has injected a heavy dose of economic uncertainty into the fluid power industry, as well as the rest of the global economy, and has forced the supply chain to change how it approaches strategic planning and business management. The pressure to quickly adapt to stay afloat in the unsteady economy can cause business leaders to make hasty and potentially costly decisions based on incomplete or misinterpreted data.
Alex Chausovsky, Director of Speaking Services at ITR Economics and a familiar speaker at NFPA’s Industry & Economic Outlook Conference, reminds us in a recent LinkedIn post just how important sound research is to the development of valid and accurate data sources used create reliable economic trends and projections.
Sound market information research, like the research behind NFPA Market Information Resources, begins with strong contact/source relations, consistency and complete data collection practice transparency. NFPA is fortunate to work with dedicated members that contribute data through a variety of market surveys and maintain open communication with NFPA staff, not to mention the positive and meaningful relationships we maintain with a number of outside firms known for their valuable resources and outlooks. It is these relationships that have made NFPA the leading source of fluid power market information in the U.S. that help members understand trends and anticipate change. Members have access to a variety of industry reports, forecasts and data sources for fluid power products, customer markets and economic indicators.
Access NFPA Market Information Resources
Questions and inquiries about NFPA’s Market Information Resources can be directed to Eric Armstrong at earmstrong@nfpa.com or (414) 778-3372.
Like this post? Share it!
Recent Posts
Fall 2024 Fluid Power Recruitment Event with NIU
RSVP for our Fall 2024 Fluid Power Recruitment Event with Northern Illinois University (NIU). NIU is one of seven universities recognized as a Power Partner, teaching fluid power competencies and engaging in all NFPA educational programs. At this event, your company will have the opportunity to connect directly with NIU engineering students. Engaging in meaningful conversations,…
Now Announcing: Cuyahoga Community College as a Fast Track Hub in Ohio
NFPA’s Fast Track to Fluid Power is a workforce development pathway that partners local technical colleges with fluid power industry members and high school teachers. These networks create awareness and interest in fluid power and train students along a path that leads to careers in fluid power at NFPA member companies. We are pleased to…
Now Announcing: Houston Community College as a Fast Track Hub in Texas
NFPA’s Fast Track to Fluid Power is a workforce development pathway that partners local technical colleges with fluid power industry members and high school teachers. These networks create awareness and interest in fluid power and train students along a path that leads to careers in fluid power at NFPA member companies. We are pleased to…