Hydraulic Institute Announces 2002 Statistics Program – Participants Gain Management Insights
PARSIPPANY, NJ, December 21, 2001 - Better management of inventory and manufacturing levels, more effective employee compensation and benefits programs, more accurate comparison of cost structure and operating ratios - these are a few of the benefits being recognized by participants in the Hydraulic Institute (HI) Statistics Program.
Offering the pump industry's most timely information and insights, the HI Statistics Program produces 12 different reports, reflecting data gathered on monthly, quarterly, semi-annual and annual bases. The program schedule for 2002 has been posted on the HI web site, www.pumps.org, with data compilation beginning in January, according to Robert Asdal, executive director of HI.
"Intelligent competition requires an indication of trends and a knowledge of the marketplace, and our program is providing members just that -- some of the most highly regarded, accurate and timely pump industry statistics available in the world," commented Asdal. "Key to this program's success is the idea that our members 'own' the data. It is invaluable information provided by HI members, exclusively for HI members. New members are encouraged to join early in 2002 to take full advantage of this invaluable program."
Information is collected in three major categories: market data, financial and operating data, and human resources data. Typical reports include those tracking:
monthly pump orders booked
quarterly orders shipped by pump type
quarterly pump orders booked by market
quarterly pump rebuild & overhaul
semi-annual report of export bookings by market
annual industry salary surveys
market segment business forecasts
An eligibility matrix on the HI web site helps members determine in which reports they are qualified to participate. A member must submit data in order to receive final reports.
Delinquency or failure to report during a specified period will disqualify the member from receiving that particular report.
Participation Made Easy
An electronic statistics manual, available on the HI web site, presents statistics program guidelines, data gathering procedures, and detailed schedule of reports for the calendar year 2002.
By using the electronic copies of the data reporting forms, participants can easily complete and submit information online to Association Research, Inc., the independent research and statistical firm responsible for data collection and preparation of HI reports. All information submitted is secured through an assigned "keycode" and added password protection. In addition to electronic submission, reporting forms can be submitted by fax or by mail. Completed reports can be viewed online or downloaded to the participant's hard drive.
The HI Statistics Program is open to all HI members who manufacture pumps, including centrifugal, vertical, rotary, reciprocating and air-operated pumps. HI members view the insights gained by this program as one of the key benefits of membership.
About Hydraulic Institute
The 85-year old Hydraulic Institute, the largest association of pump producers in North America, serves member companies and pump users by providing product standards, and forums for the exchange of industry information. For more information on the Hydraulic Institute and its 2002 Statistics Program, visit the HI web site at www.pumps.org. To learn more about membership in the Hydraulic Institute, prospective members are invited to personally call HI Executive Director Bob Asdal at (973) 267-9700. Requests may also be faxed to (973) 267-9055 or mailed to 9 Sylvan Way, Parsippany, NJ 07054. Visitors to the HI web site are invited to sign the HI Guest Book for future notices of new standards, on-going energy savings tips and updates on educational offerings.
Source: Hydraulic Institute Inc.