By adapting their operations to flex with markets, smart manufacturers with global footprints are learning to profit from permanent volatility, while insulating themselves against downside risk and simultaneously moving with speed and agility to capitalize on opportunities as they arise.
It’s important to understand that business analytics is a scientific approach to making decisions and is broken down into three forms: descriptive, predictive, and prescriptive analytics. Descriptive analytics provide an accurate picture of what has happened. Predictive analytics enable an assumption about what will happen in the future or explain what has happened. Finally, prescriptive analytics shows the best course of action.
Sewon America Inc. will invest $10 million to create 150 jobs and better supply Kia's Georgia plant and Hyundai's Alabama plant.
Using supplier score cards and comparison tools can inject more reason into a purchasing decision, which can optimize both cost and lead time.
Luckily for distributors, the ongoing evolution of enhanced ERP and workflow technologies has helped them better fulfill some of their basic needs; most notably allowing them to closely manage each and every step of the distribution process. These are also helping distributors to better manage warehouse workflow, automate purchasing, streamline work process, and improve inventory management.
The decision was made due to strong airplane sales, as the company has a backlog that is "disturbingly healthy."
Plex Systems Inc., provider of Plex Online, Cloud ERP for manufacturers, today announced the deployment of the Pacejet multi-carrier shipping and logistics technology at Vornado Air, the industry leader in air flow technology product manufacturing.
But excluding transportation equipment, orders actually fell 1.1 percent, the third decrease in four months.
It predicts global trade will grow even slower than the world's economies — a trend not seen since the recession.
The July CAB was flat after declining three consecutive months, historically a sign of slowing economic activity.
The Coca-Cola Co. says its net income slipped in the second quarter from a year ago, as rising costs for ingredients offset its expansion overseas.
U.S. companies added to their stockpiles in May but their sales fell for a second straight month. The Commerce Department says business stockpiles grew 0.3 percent in May from April.
China's economic growth fell to a three-year low, and a potential recovery later this year will probably be too weak to pull the world out of its slump.
Gov. Chris Gregoire lost out to Alabama on Airbus' new facility, but says the company knows "we've got the best (suppliers) in the world."
The San Jose, Calif., company said supply chain problems drove up its costs during the quarter and hurt its sales of power regulators.
A 5 percent increase in prices may boost profits, but analysts aren't sure if it will help the company climb out of its recent second-quarter loss.
Let’s face it — the state of costing in almost all U.S. companies today is atrocious. It has not kept pace with advancements in technology or manufacturing.
The use of technology and open collaborative network processing can do the same for the financial supply chain as has been done for the physical supply chain.
The aircraft maker notified airlines last October that cracks were found in one of its Boeing 717s, but wants more time for a part maker to produce more spares.
By freeing up the money that would go to the manufacturing process, the OEM can move those funds to further product development or create the next best thing.
Product development projects are often kept quiet by processors looking to protect their “secret recipes.” However, some companies are using open innovation to share their R&D projects with suppliers and others who may be able to help make the final product a larger success. We spoke with Michael Antinone of the General Mills Worldwide Innovation Network (G-WIN) about the benefits of putting development projects out in the open.
Haynes CEO Mark Comerford says the $24M investment will add about 20 percent to the Kokomo factory's capacity and create 40 new jobs.
The automaker's profit and sales are at record highs despite "extreme volatility" due to the earthquake in Japan and flooding in Thailand.
Every supply chain professional knows it’s a dangerous world out there, full of highly volatile and unpredictable elements that can grind production to a halt, all in the time it takes for a crack of thunder to rumble across the skies. However, it might surprise you that risk management is not just a defensive way of reducing the negative impact of unexpected or unwelcome events - it’s also a way to proactively boost business.