MTI’s economic forecast partner, ITR Economics, is forecasting good economic growth between now and 2030. This will not come without a hiccup along the way, but it is growth that will take a turn early 2030, to a pretty significant downturn. There are many factors that will lead to that downturn, and MTI is watching carefully.
MTI understands that a potential downturn in the future puts every heat treater at a “turning point” today. That turning point says, “What are you going to do today to capitalize on the growth in this decade, and to prepare for any downturn in the economy in the 2030s?” What you do in the next 7 years will set your organization up for success or failure.
Some key steps heat treaters and suppliers should be taking in order to effectively navigate opportunities, challenges, and decisions are:
- Actively looking at historical trends of your company compared to the industry.
- Reviewing industry forecasts for heat treat sales and the industries that drive your sales.
- Engage your quality team in MTI’s Technical Standards Committee updates.
- Have a culture with on-going technical training of your team to drive efficiency in thinking and productivity.
- Fostering professional development to build leaders, who in turn, build high-performing teams within your organization.
- Actively attending at least one national meeting of heat treaters so you can gain new business perspective outside of your company.
- Have access to key best practices and business resource tools to maximize the effectiveness of your team.
- Tuning into monthly webcasts to get the latest news from experts to improve energy efficiency, productivity, operations, and HR requirements.
- See real-time information on how other heat treaters feel about key components of business.
The great news for you is that as a member, all of these action steps are available from the Metal Treating Institute. MTI’s mission is simple: “To help heat treaters succeed.” MTI’s volunteer leadership, made up of heat treaters and suppliers, continue to research and invest in programs and resources to help maximize productivity, safety, quality within your organization, and assist in weathering the labor shortage storm. All to help your company prepare for the “turning point.”
The MTI Board of Trustees and management team would like to say “Thanks You” for your engagement and support of your trade association. You are building your legacy by being a part of the solution to the many challenges facing heat treaters today, and in the future.
MTI’s numerous task force groups and committees are giving the heat treat industry a strong voice within the various industry groups who have an impact on your company, and the industry as a whole.
If you have any questions about resources or programs available to you as a member, you may visit MTI’s website at www.HeatTreat.net or contact our Director of Member Experience, Kristen Speer at 904-249-0448 x101.