A sharper edge for steel’s market development sword
Nov 01, 2008 | 11:44 AM
To be competitive in today's global marketplace, the steel industry must have a clear understanding of current market trends and a vision for those issues that will define future market demand.
To take advantage of opportunities in an increasingly competitive global marketplace, the American Iron and Steel Institute (AISI) has established the Steel Market Development Institute (SMDI), a business unit of AISI. Building on the success of AISI's market development programs, the SMDI's mission is "to advance the competitive use of steel through a market-driven strategy that promotes cost-effective steel-based solutions." In other words, the SMDI is now the AISI's leading organization for actively engaging customers, designers, developers and other interest groups in meeting market demand with innovative steel solutions.
The essential purpose behind the SMDI's strategic business model resides in three areas the need to sustain long-term market demand consistent with the industry's investment in capital; a critical strategy to address competing material challenges to market share; and the engagement of customers in both defining and investing in new technologies.
Through a comprehensive, five-year business plan, the SMDI has defined a strategic "road map" for where to apply the industry's annual investment in order to ensure long-term steel demand.
Customer partnerships and collaboration with the design community are essential to achieving the long-term goals of the SMDI mission. As a primary material industry, steel is 100 percent dependent on the downstream manufacturing sector—our customers—to convert steel into consumable products such as automobiles, buildings, bridges and containers. Today, there are more than 265 organizations, ranging from large original equipment manufacturers (OEMs) to small fabricators, partnering in the SMDI programs. These partnerships are essential to our advancements in the market and in helping customers remain competitive. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.