The formula for success comes courtesy of a new IDC Manufacturing Insights report.

It ID’d the key components to a rebound:

Where: the manufacturing sector

What: a renewed push for operational excellence

Who: Operations, with a big hand from IT.

“Operational excellence” certainly isn’t anything new. And it’s something most manufacturers should be striving for anyway.

But after these rough two years, companies have been operating in survival mode – improvements haven’t necessarily been top-of-mind.

The best way to achieve this change of direction now is by focusing on three areas:

1. Improvements to quality
2. A plan for continuous improvement, and
3. Supply chain enhancements (demand sensing, forecasting and collaboration with partners).

And the internal partner that’ll need to work hard to support all of these? IT. Technology will factor heavily here.

Even if your business is in the service industry, this formula can help you.

After all, you probably have manufacturers as key customers or suppliers.

Talk with other top execs in Finance and Operations to see whether your partners are embracing this strategy: looking to collaborate more with you, addressing demand issues, etc.

Those are all encouraging signs.

The projections, based largely on statistics from a national study conducted by the Monthly Labor Review in 2007, predict these 10 industries will offer the most potential in terms of jobs and salary over the next six years (also listed is the estimated annual rate of expansion):

1. Management and technical consulting services: 5.9%
2. Individual and family services: 5.7%
3. Home health care services: 4.5%
4. Securities, commodities & financial investments: 3.9%
5. Facility sevices: 3.8%
6. Residential care: 3.3%
7. Independent artists, writers, and performers: 3.3%
8. Computer systems design: 3.3%
9. Museum and historical sites: 3.1%
10. Day care services: 2.9%

It may be worth considering how you can tap into these markets or target prospects in related industries. Meanwhile, here are the 10 industries that are experiencing the most rapid decline:

1. Sewing manufacturing: -8.7%
2. Footwear manufacturing: -7.3%
3. Federal enterprises (except the USPS): -5.2%
4. Knitting apparel factories: -5.1%
5. Textile and fabrics mills: -5.0%
6. Leather and hide manufacturing: -4.9%
7. Apparel manufacturing : -4.1%
8. Tobacco manufacturing: -4.0%
9. Computer manufacturing: -4.0%
10. Iron and steel manufacturing: -3.9

The message is clear: As automated processes (and cheaper foreign labor) make it easier for companies to cut down on manpower, a lot of traditional American manufacturers are on the decline. Now may be the time to determine how your organization can adjust to those changes, and maintain (or increase) its market share.

Click here for the U.S. Department of Labor’s full list of “Industries with the fastest growing and most rapidly declining salary employment”