The manufacturing supply chain is only as strong as its weakest link. But how does a firm know where its weakest link lies? The answer may be found with predictive analytics.
In the News
Thursday, August 26, 2021
Your company probably has security systems in place to prevent theft of computers, machines and products, yet you may not be doing enough to safeguard your customer lists, new product designs and marketing strategies. Manufacturers rank second only to high-tech companies as targets of intellectual property theft.
Thursday, August 12, 2021
Unfortunately, terrorist attacks are a real and present risk for businesses of all types. And tremors are being felt throughout the domestic manufacturing sector. This article examines some of the main repercussions for manufacturers on the global stage and in their own plants and warehouses.
Thursday, July 29, 2021
Efficient inventory management can substantially improve your firm's performance by helping to maintain high customer service levels and reduce variable costs. But reinforcing inventory management isn't a one-time project. It's a constant concern for manufacturers.
Thursday, July 15, 2021
Technology and automation has brought manufacturing a long way. One of the latest innovations, 3D printing, could make a significant mark of global proportions. Will your firm be at the forefront of this technology or be left in the dust?
Thursday, July 1, 2021
Scheduling hourly employees to work more than 40 hours a week can help overcome seasonal peaks in production or bridge a temporary labor shortage. But excessive overtime should be the exception, rather than the norm, in a healthy, productive manufacturing business.
Thursday, June 17, 2021
If you're like most manufacturers, you don't track order-processing. Yet focusing on this performance metric can identify operational inefficiencies that are cost-cutting opportunities. And continued monitoring lets you keep those costs in check and predict future outlays.
Thursday, June 3, 2021
High gas costs translate into high shipping costs, but manufacturers needn't passively accept this. Those companies that learn how less-than-truckload (LTL) carriers classify freight can modify their shipping processes to lower shipping costs. That requires research into the complex, ever-changing freight classification rules set forth by the National Motor Freight Traffic Association, an organization that most LTL carriers belong to.
Thursday, May 20, 2021
Lost sales are among the most important financial data a company needs to track. When you lose sales, the dollar amount doesn't just have a one-time effect on your bottom line. The situation can result in unhappy, dissatisfied customers who take their business somewhere else. It's like money down the drain.
Thursday, May 6, 2021
Using sophisticated inventory management software is supposed to solve the problem of inaccurate counts, but that's not always the case. Delays in order fulfillment and angry customers are inevitable if your warehouse is plagued by erroneous inventory counts.