--- title: Are Global Issues Affecting Your Company's Purchasing Power? description: The global economy plays a bigger role in your company's success than you might think. Let's talk about some of the most serious threats your buying power. image: https://blog.boydmetals.com/hubfs/blogs/20160908-global-issues-affecting-your-purchasing-power/global-issues-affecting-companies-purchasing-power.png --- [![Boyd Metals Logo](https://blog.boydmetals.com/hs-fs/hubfs/basic-visual-assets/logos-and-watermarks/Logo_Rev/Logo_Medium_White_2.png?width=152&name=Logo_Medium_White_2.png)](https://www.boydmetals.com/) - About Us - [Core Values](https://www.boydmetals.com/our-core-values/) - [Our Mission](https://www.boydmetals.com/our-mission/) - [Play Hard](https://www.boydmetals.com/play-hard/) - [Team](https://www.boydmetals.com/team) - [Blog](https://blog.boydmetals.com) - [Privacy Policy](https://www.boydmetals.com/privacy-policy) - [Watch Us Grow](https://www.boydmetals.com/watch-us-grow/) - Products - [Stainless Steel](https://www.boydmetals.com/stainless-steel) - [Aluminum](https://www.boydmetals.com/aluminum/) - [Carbon Steel](https://www.boydmetals.com/carbon-steel) - [PVF](https://www.boydmetals.com/pvf) - [Red Metal](https://www.boydmetals.com/products/red-metal) - [Industrial Products](https://www.boydmetals.com/products/industrial-products) - Processing - [Sawing](https://www.boydmetals.com/processing-fabrication/sawing/) - [Shearing](https://www.boydmetals.com/processing-fabrication/shearing/) - [Plasma Plate Cutting](https://www.boydmetals.com/processing-fabrication/plasma-plate-cutting/) - [Oxy-Fuel Plate Cutting](https://www.boydmetals.com/processing-fabrication/oxy-fuel-plate-cutting/) - [HiDef Plasma](https://www.boydmetals.com/processing-fabrication/hidef-plasma/) - [2D and 3D Laser Cutting Capabilities](https://www.boydmetals.com/2d-3d-laser-cutting-capabilities/) - [Press Brake](https://www.boydmetals.com/processing-fabrication/press-brake/) - [Plant Tour](https://www.boydmetals.com/plant-tour/) - [Resources](https://www.boydmetals.com/resource-center/) - [Finding The Right Metals Service Center](https://www.boydmetals.com/finding-the-right-metals-service-center/) - [A Guide To Pipe Sizes](https://info.boydmetals.com/guide-to-pipe-sizes-download) - [Decimal to Fraction Conversion Chart](https://info.boydmetals.com/decimal-to-fraction-conversion-chart-download) - [Digital Stock and Reference Guide](https://info.boydmetals.com/download-the-boyd-metals-pdf-stock-and-reference-guide) - [12 Facts About Steel](https://info.boydmetals.com/12-facts-about-steel-download) - [Product Management Checklist](https://info.boydmetals.com/project-management-checklist) - [Careers](https://www.boydmetals.com/careers/available-positions/) - Get a Quote - [Request a Quote](https://www.boydmetals.com/get-a-quote/) - [Contact Us](https://www.boydmetals.com/contact-us) ### I’d like to learn more about Campaign Creators! read # Are Global Issues Affecting Your Company's Purchasing Power? ![Boyd Metals](https://blog.boydmetals.com/hubfs/blogs/20160908-global-issues-affecting-your-purchasing-power/global-issues-affecting-companies-purchasing-power.png) The American manufacturing sector has encountered significant obstacles in recent years. A significant bite has been taken out of the purchasing power of many small and mid-sized businesses. Every month you hear about another factory closing down or staff reductions caused by off-shoring. As someone involved in the industry, you know first-hand how manufacturing is being affected. With that perspective in mind, let's talk about some of the most serious threats to the buying power of American manufacturers.  #### Finding good people Arguably the greatest challenge facing manufacturing is finding quality employees for your shop. When you have trouble finding reliable personnel, excessive amounts of time are wasted hiring and training new staff. This cycle can seem endless, and it is both expensive and inefficient. #### Rising staffing costs Another big challenge in manufacturing is the high cost of worker compensation, insurance, and property taxes. An employer's good decisions can be canceled out by the costs of worker's compensation and taxes. These rising costs mean forward-thinking companies are constantly being pushed back by the system. #### Big data Manufacturing is data intensive, and many businesses are overwhelmed. With big data management, predictive tools are needed, along with methods to compete with offshore competitors. Many companies don’t know how to leverage data in a competitive market. Generating the data isn't the problem, but accessing and using it can be challenging. #### Gross margins As companies lose the ability to safeguard gross margins, management tends to panic and try desperately to boost sales. History shows us that this strategy is a recipe for disaster as it transforms minor issues into major ones. #### Inventory discrepancies These are another big problem. When a portion of your inventory doesn’t move, you have two options: hang on to the products or slash prices. Either way, you lose profits. Asset-based lenders will offer more for your accounts receivable than for stagnant inventory. This means that small and medium-sized manufacturers will have more difficulty keeping their stagnant inventory available. #### Growing compliance impositions Today, American manufacturers must take compliance issues seriously. Compliance includes everything from IT security to product safety, to environmental regulations. When this issue is overlooked, manufacturers can incur serious consequences. Damage to their reputations may not be the worst of it. Decimated financial performance and ruined careers are prices too high to pay for noncompliance. --- At Boyd Metals, we understand the pitfalls and obstacles that today’s global economy brings to your company’s buying power and production process. That’s why we are dedicated to providing a service that is optimized to help you get the most out of your process. We do this through advanced logistics, superior expertise, and competitive pricing. We don’t just sell you the materials and components you need. We provide full end to end service for all your needs. 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You're not the only one. At Boyd Metals we are committed to providing you with the tools you... *( Read More )* Topics: [Insider Tips](https://blog.boydmetals.com/topic/insider-tips) ## [Our New Resource Page - Boyd Metals Downloadable Resources](https://blog.boydmetals.com/our-new-resource-page-boyd-metals-downloadable-resources) At Boyd Metals, we are committed to providing our customers with better service and more value than any other player in the metal... *( Read More )* Topics: [Insider Tips](https://blog.boydmetals.com/topic/insider-tips) ![boyd-logo](https://blog.boydmetals.com/hs-fs/hubfs/boyd-logo.png?width=246&name=boyd-logo.png)   ![nasa-logo](https://blog.boydmetals.com/hs-fs/hubfs/nasa-logo.png?width=294&name=nasa-logo.png)   - About Us - [Core Values](https://www.boydmetals.com/our-core-values/) - [Our Mission](https://www.boydmetals.com/our-mission/) - [Play Hard](https://www.boydmetals.com/play-hard/) - [Team](https://www.boydmetals.com/team) - [Privacy Policy](https://www.boydmetals.com/privacy-policy) - [Products](https://www.boydmetals.com/products) - [Stainless Steel](https://www.boydmetals.com/stainless-steel) - [Aluminum](https://www.boydmetals.com/aluminum/) - [Carbon Steel](https://www.boydmetals.com/carbon-steel) - [PVF](https://www.boydmetals.com/pvf) - [Red Metal](https://www.boydmetals.com/products/red-metal) - [Industrial Products](https://www.boydmetals.com/products/industrial-products) - [Processing](https://www.boydmetals.com/processing) - [Sawing](https://www.boydmetals.com/processing/stainless-steel) - [Shearing](https://www.boydmetals.com/processing/aluminum/) - [Plasma Plate Cutting](https://www.boydmetals.com/processing/carbon-steel) - [Oxy-Fuel Plate Cutting](https://www.boydmetals.com/processing/pvf) - [HiDef Plasma](https://www.boydmetals.com/processing/red-metal) - [Laser Cutting](https://www.boydmetals.com/processing/industrial-products) - [Press Brake](https://www.boydmetals.com/processing/industrial-products) - [Plant Tour](https://www.boydmetals.com/plant-tour/) - Careers - [Available Positions](https://www.boydmetals.com/careers/available-positions) - [Apply Now](https://www.boydmetals.com/careers/apply-now) - [FAQ](https://www.boydmetals.com/careers/faq) - [Contact Us](https://www.boydmetals.com/contact-us) - [Request a Quote](https://www.boydmetals.com/get-a-quote)