If you’ve been in business long enough, you face the problem of legacy computer systems, procedures, and equipment that are no longer up to the task. Unless your business is tiny, it’s hard to justify paper-based systems and manual counting. These are notoriously slow, inefficient, and prone to error.
The Southeast Michigan Purchasing Managers Index (PMI) for Oct. is 63.1, up from 59.9 in Sept., raising the three-month average for the economy to a robust 61.1. A PMI value above 50 generally suggests economic growth. Just over 75 percent of respondents report their expectations are for the economy to remain the same or become more stable.
GT Advanced Technologies Inc. shares soared in extended trading Monday after it struck a multi-year supply agreement with Apple Inc. for sapphire material. GT will also own and operate the equipment to produce the material at an Apple facility in Arizona. It expects the Apple deal will add to its earnings per share in 2014.
Manufacturing activity in the Southeast climbed in October, pushing the monthly index to 50.4 and narrowing the gap with the National PMI, according to the Southeast’s Purchasing Managers Index (PMI) report released today by Kennesaw State University’s Econometric Center in the Michael J. Coles College of Business.
Thief River Falls, MN-based Digi-Key Corporation is a global distributor of electronic components, with over $1.5 billion in annual sales. We recently sat down Mark Larson, the company’s president, to get his thoughts on globalization, inventory management and steps that established distributors can take in helping to set themselves apart from the crowd.
Economic activity in the manufacturing sector expanded in October for the fifth consecutive month, and the overall economy grew for the 53rd consecutive month, say the nation’s supply executives in the latest Manufacturing Institute for Supply Management (ISM) Report On Business.
What does technology that allows us to view Earth from the International Space Station as it orbits around the planet have to do with supply chain management? Or technology that helps authorities pinpoint and deploy vital resources during a catastrophic natural disaster? The ability to track and analyze big data in real-time.
KI Logistics today announced its plans to invest $11.5 million to establish its new North American headquarters and logistics facility at The Matrix Business and Technology Park in Greenville County. With the new investment , the company plans to create as many as 149 new jobs over the next several years. The 206,000-square-foot facility will be fully operational by July 2014.
After decades of outsourcing, the resurgence in domestic manufacturing is now America’s favorite comeback story. Factors that once drove companies overseas — including labor and energy costs — are no longer considered insurmountable obstacles. Yet one troubling trend could signal a major complication for returning manufacturers: our nation’s increasing reliance on unstable supply chains of imported minerals.
Under the proposed rule, companies that make widely-used prescription medicines would have to notify the FDA of any changes in drug production that could disrupt the U.S. supply. FDA leaders say the advance warning will help the agency work with companies to resolve supply problems or find alternate sources of drugs that are being phased out.
Intelligrated today announced its plans to expand its southern operations, based out of Alpharetta, Ga., into a new 54,000-square-foot facility that will accommodate staff from both Intelligrated and Knighted. The company says the expansion has been planned ahead of expected growth within the region.
Could 3-D printing, also called additive manufacturing, revolutionize the production industry to the same extent as Ford's assembly line? When Michelangelo was asked how he sculpted the famous David statue, he's reported to have simply replied, "I just chipped away everything that didn't look like David."
Penske was one of 55 companies to receive this distinction, representing the best environmental performers of SmartWay’s 3000-plus Partners. Companies were honored today at the Council of Supply Chain Management Professionals (CSCMP) Annual Global Conference in Denver.
The movement from linear to complex, multi-node supply chains is behind this dramatic shift, driven by changes that include greater volatility, constrained capacity, evolving regulations, major shifts in customer demographics and buying patterns, and increasingly demanding customer and supplier requirements.
If there’s such obvious value in getting customers to interact with your business online, why are so many companies, B2B in particular, still operating in person and over the phone? Maybe they’ve cornered a market. But frankly, betting on past analog strategies to support a company in the current and future digital market virtually guarantees failure along the lines of Blockbuster, Borders, Circuit City, CompUSA and others.
The survey gathered insights from 300+ business professionals responsible for ethics and compliance activities. It explored how and whether they have implemented policies to mitigate the risks of doing business with third parties overseas. Survey respondents largely acknowledged the risk, but 71 percent admitted they do not track information on some or all of their third party relationships.
Many smaller suppliers went under during the recession and after the 2011 earthquake and tsunami in Japan, leaving larger companies with tighter production capacity as the buying market rebounded, Sharland said.
An SAP user since 2006, Purcell Systems found over time that financial reporting from its big ERP system was inefficient, especially as managers began to request more information more quickly. By 2012, the company seriously needed a way to expedite both ad-hoc and standard financial reporting processes.
A company that makes battery-operated vehicles that children can ride said Monday it will spend $6.5 million to renovate a Rogers manufacturing site and hire 74 workers who will build products exclusively for Wal-Mart.Redman & Associates said production will begin in 2014.
Wal-Mart Asia President and CEO Scott Price is among hundreds of business leaders gathered for a conference on the sidelines of the annual summit of the Asia-Pacific Economic Cooperation forum, which promotes regional market opening and cooperation.
Within three years, a Boston Consulting Group analysis concludes that rising Chinese wages, higher U.S. productivity, a weaker dollar, and other factors will virtually close the cost gap between the U.S. and China for many goods consumed in North America.
Industry insiders have been talking about reshoring for years. But progress has come only recently. The stars have aligned because at the same time that U.S. manufacturing has come back with new strengths, the business benefits of offshoring have dwindled.
Imagine having manufacturing software features like automatic updates, unlimited capacity upgrades, built-in disaster recovery and universal remote access capabilities, among others. Sound too good to be true? It’s not. Cloud platforms are already bringing this level of functionality to manufacturing businesses, and without the capital expenditures and lifecycle maintenance costs.
Basic or non-existent e-commerce functionality does not match B2B purchaser preferences according to the hybris 2012 State of B2B E-Commerce study, which indicates that 88 percent of B2B buyers would primarily make business purchases online if given the option.
This educational webinar from Manufacturing.net will highlight the most critical trends in the burgeoning intersection between electronic commerce (e-commerce) and manufacturing. Raj Kumar will be joining us to kick off the webinar with a discussion of the broad trends that are making e-commerce a necessary addition to an already-growing contingent of enterprise-level software solutions.