By Gregg Wartgow, Special to the Association of Equipment Manufacturers (AEM) --
Running a manufacturing business is hard enough. Trying to keep up with the latest economic trends and policy developments can be a challenge. But insights into those areas are what give manufacturers a useful edge, helping to guide strategic planning and day-to-day decision making.
AEM’s Business Intelligence team can help.
“We’re here to help bridge the gap for our members,” said Al Melhim, Ph.D., senior director of business intelligence for AEM. “It can be hard for manufacturers, particularly small and mid-size companies that have limited resources, to stay on top of all the important macroeconomic and industry-specific data. Then they have nothing to sync with their own internal enterprise intelligence to gauge how their individual companies are doing or where things may be headed. AEM can provide them with the market intelligence they need to formulate their strategies and tactics to help improve the bottom line.”
Having access to market data and analysis provides another benefit to AEM members.
“It helps alleviate some of the risk and uncertainty that accompanies running a manufacturing business,” Melhim said. “It’s important to have the latest market dynamics and trends. That can augment a company’s intelligence to paint a clearer picture at the industry level. With AEM’s Business Intelligence offering, members gain more knowledge about the market ecosystem, including suppliers, peers, buyers, and competitors. That enables them to better understand the forces of change impacting the entire off-highway equipment ecosystem.”
AEM’s Business Intelligence Product Offerings
AEM develops several Business Intelligence products that provide members with both the data and insights needed to gain a better understanding of the environment they are operating in.
Member Insights & Reports. Exclusive qualitative data and insights from manufacturing executives are compiled quarterly to help AEM members build the industry’s aggregate indicators of agriculture and construction equipment markets' performance. Members can use these indicators to benchmark their own business expectations with the industry as a whole in areas like demand, inventory volumes, capital spending, export performance, and employment.
Economic Data Reports. These include useful economic data on the industry’s trade and economic contribution. The U.S. Agriculture and Construction Equipment Trade reports, also compiled quarterly, leverage detailed trade data from the U.S. Census Bureau. AEM members gain direct access to insights regarding trends in global trade. AEM also produces a report detailing the industry’s contribution to the U.S. economy at the national, state, and congressional levels.
Ag Tractor & Combine Reports. These monthly reports provide snapshots of retail sales for tractors and combines. AEM members can use these reports to stay on top of trends on a monthly, year-to-date, and year-over-year basis. The sales data is aggregated from AEM members participating in AEM’s statistical programs.
U.S. and Canada Equipment Market Reports. Published twice a year, these reports cover both agriculture and construction equipment. They combine AEM’s proprietary sales and market data with additional research and expert analysis to help AEM members not only understand what is happening in different equipment markets, but why it’s happening and why it matters. Current market conditions, economic drivers, and demand precursors are all examined.
“It can be hard for manufacturers, particularly small and mid-size companies that have limited resources, to stay on top of all the important macroeconomic and industry-specific data. Then they have nothing to sync with their own internal enterprise intelligence to gauge how their individual companies are doing or where things may be headed. AEM can provide them with the market intelligence they need to formulate their strategies and tactics to help improve the bottom line.” -- Al Melhim
Global Agriculture Industry Reports. Through its affiliation with the Agrievolution Alliance, which is comprised of agriculture and manufacturing organizations from around the world, AEM has access to global data and insights collected throughout the year. Agrievolution global reports help AEM members understand how key equipment categories are performing on a global, regional, and country-specific basis. Executive insights on current business conditions and expectations are also shared.
“Our industry is a global industry, from the major finished equipment manufacturers to the supply chain members that support them,” Melhim said. “North America is a big market, but it’s not the only market — and it isn’t the fastest-growing market. Having an understanding of what the global market looks like is extremely useful for AEM members.”
AEM Business Intelligence Equipment Market Update Webinars. AEM members can stay on top of emerging trends with the association's quarterly Business Intelligence webinars. Industry experts break down industry issues and pinpoint crucial changes in the landscape to help attendees refine a company’s strategy.
AEM Industry Experts Panel. This is a newer initiative that has the potential to make a big impact, according to Melhim. Experts can volunteer to participate in this research panel, sharing their thoughts on a range of topics impacting AEM members, from labor force and legal issues to safety, regulatory, advocacy, and more. AEM has been asking its members to weigh in on relevant topics for years. This initiative, however, provides both a framework and a discipline to provide a continuous pipeline of research that addresses a plethora of market- and industry-related topics.
“It’s good to hear our members’ voices and gain insights from within,” Melhim said. “AEM members each have their individual experiences and expertise to share. We believe that the whole is bigger than the individual sum.
“A lot of effort goes into not just collecting the dots, but connecting them,” Melhim continued. “Data is valuable in and of itself. But it’s the interpretation of the data, relative to a specific industry, that provides the actionable insights manufacturers need. That’s what the AEM Business Intelligence team will continue to focus on moving forward.”
