The term "lean manufacturing" means different things to different people. However, it can generally be agreed upon that lean manufacturing represents a management philosophy that emphasizes the elimination or reduction of waste in order to increase company profitability. In other words, doing more with less.
In the News
Tuesday, July 12, 2022
Idle machines, production bottlenecks, equipment breakdowns, absent employees, new orders — these are just some factors that can disrupt production and eat into your company's profit.
Thursday, June 30, 2022
Let's say your company has slashed costs to the bone, boosted productivity and taken market share from competitors. But you still want to see some improvement. It's time to find your weakest link and turn it into a strength.
Tuesday, June 21, 2022
Internal fraud drains approximately $4.5 trillion dollars annually from global businesses, according to the Association of Certified Fraud Examiners (ACFE). According to ACFE's latest Report to the Nations, the median internal fraud loss in manufacturing and production companies is $198,000. Although companies can experience pilferage from customers, vendors and other sources, employees account for the highest losses, when taking into account offenses such as fraudulent insurance claims, unauthorized time off and theft of proprietary information. Crimes can be as simple as stealing company supplies or as complex as sophisticated financial statement fraud.
Thursday, May 26, 2022
One of the basic costs of doing business is insuring your workers against injury on the job. Escalating medical bills and other factors have caused workers' compensation insurance premiums to increase dramatically. Explore options for reducing the cost of coverage with your insurance agents.
Thursday, May 5, 2022
It's no secret that manufacturing can be one of the loudest on-the-job environments. Over time, many workers suffer from hearing loss — and once the damage is done, they're at risk for other work-related injuries. So, it's important for your company to adopt a preventive management program aimed at reducing the exposure workers have to noise.
Tuesday, April 19, 2022
If your company is involved in a product recall, there are certain federal regulations that must be followed. But in addition to complying with the law, a well-handled recall can help ensure customers trust your company and its products in the future As an example of a company that engages in good business practices, Nordstrom has been cited by the Consumer Product Safety Commission (CPSC). In one incident, a customer called Nordstrom to inquire about returning a sweatshirt because her child choked on the zipper pull. The retailer immediately notified all store managers by e-mail to pull the sweatshirts from the floor. A report was quickly filed with the CPSC via the Internet. Nordstrom also promptly announced to consumers the hazard and its offer to exchange the sweatshirt or provide a full refund using a press release, video news release, newspaper advertisements and in-store posters
Tuesday, April 5, 2022
Take a look around. If you've been building up piles of scrap, excess raw materials, obsolete equipment, returned inventory and spare parts, you probably need an investment recovery program.
Tuesday, March 22, 2022
Wage and hour laws can be hard to understand, and there's a large discretionary component in their enforcement. Violations of these laws are common in the manufacturing and distribution sector.
Tuesday, March 8, 2022
For many manufacturers and distributors, employee overtime has become a complicated issue. Some firms pay too much in overtime, while others misclassifying employees as exempt from overtime when they're actually entitled to it under the law. Either way, it can be an expensive mistake.