FIN SURVEY

One single five-letter word was the most frequent answer to the question: “Sales.”

FIN Survey participants had other words or phrases to indicate  “sales” or be more specific:  “Historic decrease in sales across all markets,” “lost business due to factory and manufacturers closing and layoffs,” “50% reduction in repetitive items demand,” “downturn in the economy affecting # of sales,” “significant drop in sales,” “lack of demand,” “sales volume,” “soft sales,” “sales/profits,” “maintaining sales volume and gross profit,” “customer demand dropped,” “generating sales” and “decreased orders.”

Related terms to “sales” mentioned include: “The global recession,” “economy,” “finding new business during a down economy” and “surviving the auto world.”

And for those experiencing the lowest sales: “Survival” and “staying in business.”

Responding to reduced sales was another frequently mention challenge: “Reducing overhead to meet sales declines,” “bringing inventory into line with declining sales,” “lowering cost consistent with sales,” “downsizing fast enough,” “cost control,” “cost containment” and “inventory turnover.”

Beyond sales, numerous FIN Survey respondents cited “price” problems:  “Fire sales by competitors,” “pricing with clients,” “foreign competition,” “national contracts” and “making money.”

There were some #1 challenges that might not have been sales related: “Changing computer system,” “redesigning operations,” “improve productivity/accuracy,” “controlling inventory reductions,” “accessing credit lines,” “U.S. government” and “taxes.”

Collecting on the reduced sales was mentioned too: “Account receivables” and the ultimate collection problem: “Customer bankruptcy.”

And one more challenge, which doesn’t fit in the above categories: “Sustain in the market with the same relationship with clients, vendors and employees.” ©2010 GlobalFastenerNews.com