Prime Advantage, the leading buying consortium for midsized manufacturers, announced the findings of its fourth annual Group CFO Survey, revealing financial projections and top concerns of its Member companies’ CFOs in 2012.

CFOs continue to see solid signs of the economic recovery in U.S. manufacturing. While Member companies are planning more hiring, wage increases, and capital expenditures, the availability of skilled workers is a growing challenge.

Summary of Findings

• Nearly 95% of CFOs plan to invest in manufacturing equipment and 63% in computer hardware this year

• 69% of executives are more optimistic about their companies’ financial prospects in 2012 (compared to 67% in 2011)

•  While more CFOs are optimistic about their own financial prospects, fewer respondents are more optimistic about the U.S. economy than in 2011, with 67% feeling better about 2012 than the prior year (compared to 74% in 2011)

•  59% of manufacturers expect moderate to high growth from their key customers in 2012

 
Top priorities in 2012 include cutting operational costs, developing new products and services, and long-term strategic planning (which rose 13 points from 2011).
 
The Prime Advantage Group CFO Survey was conducted in January and February using an online survey platform. Prime Advantage surveyed a cross section of finance executives from its Member companies consisting of industrial manufacturing firms from various sectors with annual revenues ranging between $10 million and $10 billion, of which the majority ranges between $20 million and $500 million.
 
Methodology: In February 2012, Prime Advantage surveyed financial executives from its Member companies whom represent US-based manufacturers in more than 25 different industries, including commercial foodservice, packaging, truck and trailer, material handling, food processing and construction. These small and mid-market companies range in annual revenues between $10 million and $4 billion, of which the majority ranges between $20 million and $500 million. The survey received a 21% response rate from 200 surveyed.
 
Founded in 1997, Prime Advantage is a buying consortium for manufacturers with more than 750 Members and more than 125 Endorsed Suppliers. For more information on Prime Advantage, visit the website at www.primeadvantage.com.

To order a free copy of the full Group CFO Survey, click here.