Metal Treating Institute – Case Study

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Executive Summary

metal treating institute

Founded in 1933, the Metal Treating Institute (MTI), a trade association within the manufacturing sector, provides services to companies that specialize in the heat treating of various metal products.

We met with MTI CEO Tom Morrison, who is celebrating his 20th anniversary with the trade association as well as 10 years of working with ITR Economics for MTIā€™s economic forecasting needs.

  • While in need of a trustworthy new forecasting partner, Morrison learned of ITR Economicsā€™ services from multiple colleagues.
  • Throughout his research, Morrison was impressed by ITR Economicsā€™ unparalleled forecast accuracy and track record; MTI became a client in 2015.
  • Morrison considers ITR Economicsā€™ expert insights as one of the top benefits for MTI member companies.

ā€œOperating in business without forecastingā€¦ I always equate it to driving in the dark at midnight down a dark highway with your lights off into oncoming traffic. Everythingā€™s a guess.ā€ ā€“ Tom Morrison

"When two or three of your CEO friends go, ā€˜Look, they are the real deal. Theyā€™ve been handling us for years and they do a great job,ā€™ I donā€™t run too far from that referral...

When I found what I felt is the best, and when I did my homework and research, I just jumped right in.ā€ ā€“ Tom Morrison

MTI case study

Challenges

In 2014, the Metal Treating Institute was faced with a significant challenge when the associationā€™s long-time forecasting partners retired. This left MTI without a reliable source for economic forecasts to help with strategic planning. MTI then began its search for a new economic forecasting firm that could be trusted to give its members the confidence to make important business decisions.

During Morrisonā€™s search for a new consulting firm, numerous colleagues recommended ITR Economicsā€™ services. He decided to act on these referrals and contact ITR Economics.

How Product Helped

ITR Economics provides quarterly reports and customized webinars to MTIā€™s member companies to keep them informed about the latest economic trends. Thanks to our accurate forecasts, both regarding large investments, ensuring resources are allocated effectively.

Member support is always vital for trade associations. Our insights on key topics such as wages, consumer debt, retail sales, and other important economic indicators have helped MTI and its members better understand the reasons behind the industry trends. Now, they can be more proactive in their decision making.

During the COVID-19 pandemic, MTI was also able to offer financial relief to its members thanks in part to ITR Economicsā€™ forecasting, further strengthening the trade associationā€™s relationship with its members.

"We had enough money in the bank; our board made a choice to give every member a break on their dues in Q3 of 2020...

But we had to make a decision if we could. So, we waited for ITR to get out that next forecast, and we saw what it was. We thought, ā€˜Okay, we can still do this.ā€™" - Tom Morrison

mti case study

Results, Return On Investment, And Future Plans

MTIā€™s partnership with ITR Economics has been instrumental in its success, as ITR Economicsā€™ accurate forecasts, timely insights, and valuable support during challenging times has helped elevate the trade association.

This ongoing business relationship ensures that MTI and its members will be well-equipped to navigate any future economic uncertainties, including the coming depression of the 2030s.

ā€œItā€™s great knowing that you can go to sleep every night knowing that ITR can focus on the numbers, so you donā€™t have to worry, and youā€™ll be able to wake up and make good decisions based on those projections. To have someone like ITR that gives you clarity with confidence to make those important choices, I can smile in any room I walk into with other trade associations because I know Iā€™ve got the right data in my back pocket that was given to us by ITR.ā€ ā€“ Tom Morrison