3 MIN. READ
There has been a measurable spike in the demand for industrial tools as the COVID-19 crisis moves from lockdown to open-for-business.
Companies saw their overseas supply chains disrupted by the rapid spread of the virus. Imports from China dropped to the lowest volume in over a decade as companies scrambled to find ways to produce products domestically.
Accomplishing this required tools, and lots of them. According to data from MNI, over 33,000 separate searches for industrial tools were performed during the month of April.
New Economy and Going Local
Searching for these tools domestically gives companies a decided advantage in the new economy. Distrust of China on a global scale appears to be creating a far more decentralized and local supply chain among western nations and the United States, specifically.
Industrial tool companies are well suited to handling the increase in business. Only 14% of them import raw materials, giving them independence from issues affecting imports and overseas shipping.
While 44% of industrial tool companies are located in the Midwest, there is a near even distribution of firms around the remainder of the country. This makes it very easy for companies to find a supplier nearby, rather than searching for a manufacturer overseas.
This reduces time and cost to not only procure tools but also to get projects off the ground and completed.
Finding industrial tool companies can be done in a variety of ways. Here are three of the most common.
Word of Mouth
People talk about suppliers who perform well for their customers (likewise, suppliers who disappoint their customers are talked about, too).
There is an undeniable enthusiasm when a supplier performs above and beyond expectations. By engaging with other companies in your industry or region, you can find out a lot about the best suppliers. Quite literally, their customers will tell you all about them.
Professional Organizations
It should go without saying that your direct competition may be loathed to give away information on an industrial tool supplier that they work with.
For this reason, consulting with professional groups such as the National Association of Manufacturers or National Tooling and Machining Association can be more fruitful.
Professional organizations represent their respective industries and offer continuing education, training, advocacy and networking. Through these organizations, one can learn about suppliers in a variety of formats, ranging from published company profiles to multi-day conventions.
Internet
The internet is often the first place that is used to find industrial tool suppliers. The complexity of searching is extremely varied, from a simple web search to a detailed analysis from industry support such as IndustryNet.
A simple search through an engine such as Google or Bing will often provide several useful results. These results typically are the supplier's website and any articles about the firm. The official website will usually have contact information and a list of the supplier's services.
IndustryNet goes beyond just a web search. Their free industrial marketplace provides critical details on nearly 400,000 manufacturers and suppliers of more than 10,000 products and services, including thousands of tool suppliers. These details are far beyond what a simple search can provide.
Request a quote directly from the site, message a company, create a list of potential suppliers, download catalogs and more.
As the go-to resource for all industrial buyers, IndustryNet is the best place on the internet to find suppliers.
