Demand planning and forecasting projects are popular tactics today for boosting financial results and shareholder value-for good reason. They typically produce one-time and often significant inventory reductions but also higher inventory turns that allow organizations to sustain lower inventory levels over time. The results look great on paper, prompting executives to search for more ways to "optimize" inventory throughout the supply chain.
3D printing has captured the imagination of the media and the financial markets; prognosticators are predicting a fundamental disruption in the manufacturing paradigm, from mass production to mass customization. Are we finally achieving the "lot size of one" that Taiichi Ohno envisioned when creating the Toyota Production System? Will factories disappear as the "maker movement" drives demand toward custom-designed items created on 3D printers in the home? How will these changes affect the industrial supply chains?
Every organization of significant size struggles with alignment. When you talk with CEOs, alignment is often the number one issue on their plate. Even organizations with as few as 25 employees often struggle with what seems like a simple problem: How do I get everyone on the same page?
In the increasingly competitive world of manufacturing, there is one constant: talent is essential to business success. The right talent acquisition strategy and process – the ability to identify, assess, attract and retain the best talent – can significantly impact a company’s competitive advantage.
As the economy continues to improve, more manufacturers are making capital investments to fuel their growth. When business owners and managers consider acquiring equipment, they often think of their payment option as a "lease versus buy" decision.
According to the American Chemistry Council, following an upwardly revised 0.5 percent gain in May, the U.S. Chemical Production Regional Index continued to expand, rising by 0.3 percent in June. Chemical output was higher in all regions.
Forging a revolution in thought, application and process, the expansion policies set into place across the country have spurred a new environment in manufacturing – one which is set to renew what we know of industry, change the way we produce goods and spark innovations of intellect and function across many sectors as well as society as a whole. If there's any other definition necessary for a renaissance, we don't know of one.
The manufacturing world is entering an era of hyper-innovation where advances in technology and material science are rapidly changing what we consider "possible" and creating new business opportunities along the way.
As the manufacturing industry spins its web across the world more and more, the network connecting businesses and their partners become much more complex. One of these areas most impacted is a company's supply chain, the main catalyst of one's ability to produce and distribute their products as efficiently and to as large and diverse of a customer base as possible. While this broadening supply chain ability certainly brings along many benefits, the ability to manage risk, particularly in the area of quality, becomes quite challenging.
Where are the most manufacturing jobs? A number of states have plenty. We all know Texas does. But not as much as Michigan does, according to a recent study.