The modern energy marketplace is changing. Annual non-renewable energy expenditures for the industrial sector have been projected to grow from approximately $206 billion in 2010 to $584 billion in 2040. Thus manufacturers find themselves with increased bargaining power that can lead to larger savings.
An in-depth post-mortem can actually increase confidence in a business and encourage more trust. Everyone and every business makes mistakes, and often, what separates a successful one from a failed one is the way in which they respond to the unexpected. Proving that your company can do just that should be a matter of pride, not shame.
Every January, companies make predictions about the year ahead and what trends they should expect. Bobby Bono, the U.S. industrial manufacturing leader at PwC, has assembled a list of trends he is predicting for the manufacturing sector moving forward.
Resource optimization software can not only help to adapt more efficiently to these resource constraints, but it can also minimize idle time, anticipate parts shortages, free up labor and equipment to be shifted among tasks, and otherwise get the most out of your labor and capital.
When you consider some of the challenges that manufacturers face across industries today — they’re unprecedented. The pressures of global supply and demand dynamics, supply chain complexities, disparate production locations and systems, regulations, and other factors have forced manufacturers to reevaluate operations and optimize them everywhere possible in order to remain competitive and profitable.
With 90 percent of the world’s data created in the last two years, what can we expect our data vaults to hold two or even twenty years from now? Companies who are hiring data scientists with the hopes of harnessing big data and data analytics' mythical promises are potentially making a huge mistake.
In an electronics market that has seen relatively flat performance over the last several years, there continue to be a number of areas where distributors can differentiate and find growth. One of the ongoing challenges within the market is the rapidity of demand swings, increasing frequency of orders and diminishing average order sizes.
Power is the lifeblood of manufacturing. However, the integration of sensitive electronics into most logic assemblies has made the circuitry (and therefore productivity) of the equipment that drives industrial automation much more susceptible to power quality fluctuations.
The private equity game was once focused on buying and selling a company as quickly as possible. But the industry has evolved to focus more on engineering companies’ supply chains to build profit and value.
Metalform manufactures American-made magazines for the 1911 pistol to brands like Colt, Smith & Wesson, and Kimber. Over the past few years the company has experienced amazing expansion, with forty percent growth in their business.
Here's some food for thought when it comes to evaluating and improving logistics in your enterprise: Whatever else you do in 2014, make it a priority to dump the tribal knowledge you might be using to make mission-critical decisions. Instead, substitute the facts.
Chrysler has technically been “foreign-owned” since July 2011, but the recent deal makes it all the more real: Chrysler might be an American-headquartered company, but it’s also a fully-owned subsidiary of an Italian company. That’s an important distinction, one that means Chrysler simply isn’t in the same playing field as Ford and GM, no matter each of their origins.
As 2014 gets underway, The Biofuels Digest resists the first-of-year temptation to look back over the challenges and highlights of the year gone by, and instead lists the 10 Top Biofuels Predictions for 2014.
It is easy to look at Shodan as the problem — it provides easy access to the devices connected to the Internet. In reality, however, Shodan simply highlights the security vulnerabilities of many of the devices that comprise the Internet of Things (IoT). The real problem is not that Shodan finds insecure devices, but that so many devices lack real security.
A few months back, UL released its Product Mindset survey, which takes a dramatically different look at the relationship between manufacturers and consumers. Many manufacturers are aware that they need to continuously develop, produce, and sell products that consumers want, but there seems to be a large disconnect between what manufacturers perceive as consumer demand, and what the case actually is.
After decades of outsourcing, the resurgence in domestic manufacturing is now America’s favorite comeback story. But one troubling trend could signal a major complication for returning manufacturers: our nation’s increasing reliance on unstable supply chains of imported minerals.
Everyone in the manufacturing space has heard about the dramatic talent gap in the industry, where companies cannot find employees with the skills necessary to help run a high-tech operation. Knowledge in automation equipment, or with CNC machines, can be a rare commodity, with most young people moving toward other industries, and manufacturing-centric education faltering or disappearing elsewhere.
Operational Excellence is a continuous improvement journey facilitated by a culture and mindset of optimizing an organization’s people, processes, and supporting technology resources. Depending on current strategy and position, however, every company will have different Operational Excellence goals and objectives.
Over the past decade, I’ve watched as globalization, competition and digitalization have forever changed the business landscape. Throw in the fact that current, and potential, customers now have higher expectations, and more buying power, than ever before and you have very little room left for error when it comes to supply chain planning, process management and execution.
Economic activity in the manufacturing sector expanded in December for the seventh consecutive month, and the overall economy grew for the 55th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.