Materials Handling Market Research
What is Materials Handling?
Material handling deals with the movement of raw materials and finished products. It also deals with the storage, protection, and control of these items. Material handling starts at the manufacturing stage. It then goes through the warehousing, distribution, and consumption phases, ending with disposal.
Companies put material handling processes and systems in place to reduce inventory. These processes also improve customer service and shorten delivery time. Material handling also lowers handling costs in manufacturing, distribution, and transportation. Decision makers in material handling include operations personnel, directors, and purchasing officers.
Why is Material Handling Important?
Material handling is important because it impacts customer service. When it’s easy for employees to locate products, they can deliver them to consumers faster. Good material handling procedures also prevent product loss or damage. A well-organized warehouse with modern material handling tools will have fewer misplaced items. Smart storage solutions also create a safe place for employees to operate.
Analysts expect the material handling sector to grow over the next few years. One driver of this growth is the growing penetration of sophisticated technologies. Tools such as IoT, RFID, and Automatic Identification & Data Capture are becoming popular. These tools improve order fulfillment. They also help in enhancing productivity across the supply chain. Another driver is the increasing automation capabilities in the manufacturing space.
Qualitative Market Research
Companies need to do qualitative research. This type of research allows them to get inside their customers’ minds. Qualitative research is about finding out not only what people think, but why they think it. Companies can use focus group discussions and face-to-face interviews to get in-depth feedback. Qualitative market research is valuable for businesses that are developing new marketing initiatives. It also works well for those developing new products. This type of research allows companies to check reactions and hone their tactics.
SIS International Research conducts focus groups and interviews with decision makers. Focus groups help us to find out what is working in the material handling industry and how companies can improve. This type of market research identifies how consumers feel about a particular product. Interviews provide helpful perspectives, which can be beneficial for innovation.
Quantitative Market Research
We conduct surveys with decision makers in material handling. Surveys measure market phenomena such as competitor and consumer behavior. We ask people their views in an organized manner so that companies have data to guide them. Quantitative research can help small companies to develop their products and services. This type of research empowers them to make educated choices based on hard facts.
Companies operating in large markets cannot depend on intuitive approaches to decision making. Quantitative market research recognizes different groups of customers. Companies can address each group by itself instead of treating them all the same. Market research also evaluates new products and concepts. It does so to ensure companies can have successful product launches and meet people’s needs.
Materials Handling Strategy Research
Companies that want to enter new markets must understand the scale of opportunities. This is also true for companies that want to increase their share in existing markets. We conduct market opportunity research. We do concept testing, which allows marketers to test their best product ideas. We also do market sizing research. This research measures the sales and profit potential of new markets and innovations.
Also, we do competitive analysis. This type of analysis is a statement of the business strategy and how it relates to the competition. We also do trend identification and industry tracking. We use these tools to compare industry data over a set time. This type of market research recognizes any consistent trends or results. Companies can use this data to map their business strategy. They can then align strategy with the general direction in which the industry is moving.