The Corridor Journal of Strategic Alliances Long Island - Global | Page 8

MANUFACTURING & TECHNOLOGY Lift Hosts ExporTech Program LIFT Hosts a 10-Week ExporTech Program, Developed by the Manufacturing Extension Partnership to Help Companies Go International Contributed by: Bob Curtis, Senior Sales Manager and Diane Muscarella, Director of Programs, Long Island Forum for Technology (LIFT) During the months of February, March and April 2015, four Long Island companies participated in ExporTech a national export assistance program that helps companies enter or expand in global markets. Jointly offered by the NIST Manufacturing Extension Partnership (MEP) and the U.S. Export Assistance Centers (USEAC) of the U.S. Department of Commerce, ExporTech applies a structured export strategy development process that assists 4-8 companies to accelerate growth. LIFT (The Long Island Forum for Technology) recruited the participants and facilitated the series. It is the only national program where each company develops a written export plan that is vetted by a panel of experts upon completion.  ExporTech efficiently connects companies with a wide range of world-class experts that help navigate the export sales process. The result is that companies rapidly expand global sales and save countless hours of effort.   So far, this nationwide program has resulted in 682 participating companies, 127 completed programs, $770,000 increase in average sales, $50,000 average investment saving and $400 Million in total program sales. The companies that participated in LIFT’s initial multiday ExporTech program had to take a good hard look at the inner workings of their company from start to finish. The program basically forced them to delve into process and financials as well as their reasons for wanting to export. For example: • One company realized they were not ready to export as their domestic opportunity was greater and needed to be exploited and developed further before they exported. This turned out to be a winning decision as numerous positive events have followed for them! 8 • Another company recognized their physical capacity may not have been ready for a large export order. Steps are being taken to mitigate this risk as the export program continues. • One company, which was already exporting, broadened their education and learned about significant gaps in their supply chain process including forecasting, production planning and inventory control. They are now managing their issues better and using their capital investments in materials and resources in an improved manner. While some of these companies are not ready at this time to enter into the export marketplace, the steps they are taking now can surely set them up for success in the future. More About the Program The Exportech program was developed because MEP recognized that manufacturers cannot rely only on the domestic market for growth. 80% of the world market is outside of the U.S., and the purchasing power of billions of new consumers is rapidly increasing in emerging economies. At the same time, competition in domestic markets is fiercer than ever, and more and more companies are turning to international markets to offset declines in domestic sales. In addition, of those manufacturers that do export, over 40% sell to on HۙB