Original equipment manufacturer sourcing decisions are typically based on total acquisition cost (TAC) formula comparisons. Because of this, such tools play a primary role in decisions about whether to purchase from domestic or overseas sources. TAC formulas attempt to take into account all cost factors related to buying from a particular source.
As most of us know, Uber is a technology platform that connects driver-partners with riders through a smartphone app. So the somewhat logical next step might be to "Uberize" the motor carrier industry, as it fits the profile very well.
Despite the economic slowdown in the industrial sector over the past year, the incidence of actual and planned automation investment is very high in American manufacturing, according to a report from the MAPI Foundation.
Cloud technologies have already improved insights into business, according to 66 percent of respondents in a recent survey of manufacturers by Plex. In addition, 31 percent are either evaluating their Big Data needs and opportunities or plan to do so in the coming year - and 35 percent believe data analysis is the most important skill set for the next generation of employees.
A decade ago, consumers accepted waiting a week for their product but now with the infusion of companies such as Amazon and Alibaba, consumers are making their purchase decisions based on how quickly they will receive the product. In order to stay competitive in the marketplace, companies are turning to 3D printing to create their products quicker.
Let's say you're about to design a brand new product. You have a lot of work ahead of you. You need to define the specs, create the design, source suppliers, check in with experts in legal and in safety, set up a testing procedure, do trial runs. Then the product will go into mass production, require a warranty, be put into actual use.