Blogs

Be the first person to recommend this.
The ports of Los Angeles and Long Beach say containers are moving off crowded docks even though a planned penalty program has been repeatedly pushed back.   Southern California port officials say the threat of a penalty fee, which has never been imposed, is a major reason cargo has been moving quickly and an enormous backup of container ships offshore has receded. The ports of Los Angeles and Long Beach have pushed back what they call a container dwell fee each week since it was announced on Oct. 25, when officials said the growing stacks of containers sitting for days or weeks at a time were impeding the flow of goods through the busiest port complex ...
0 comments
Be the first person to recommend this.
A fresh take on the classic theme of generic business strategies. Business strategy is fundamentally about allocating scarce resources to create the greatest impact on organizational performance. As a strategist, you will often be confronted with two broad innovation strategies: “making” and “milking”. The making strategy involves enhancing value creation through an organization’s products and services by better meeting customers’ needs. This value to customers, as measured by their willingness-to-pay minus the costs incurred by the firm to serve them, is critical for profitability as it enables the firm’s offering to better compete with that of rivals. ...
0 comments
Be the first person to recommend this.
U.S. factory production rose at a solid pace for a third month in April, pointing to ongoing strength in the sector.    The 0.8% increase followed a similar gain in March, Federal Reserve data showed Tuesday. Total industrial production, which also includes mining and utility output, climbed 1.1% during April.   Median forecasts in a Bloomberg survey of economists called for a 0.4% advance in factory output and a 0.5% gain in industrial production.   Another robust month of factory output illustrates how an easing of capacity constraints tied to labor and materials is providing producers greater wherewithal to meet resilient demand for business equipment ...
0 comments
Be the first person to recommend this.
As CEO, you have a vision and plan to deliver results, handsomely rewarding shareholders and employees alike. And while that may look like success to many, including you, the reality is that it won’t be enough to create a truly enduring legacy.   Your legacy is about more than bottom-line results. It’s about how you leave the company—meaning in the strongest position possible, fit for the future, and, crucially, in the capable hands of a well-chosen successor.   After value-creation, you could say that an enlightened approach to succession planning is one of the most important things you will do as CEO. Succession planning is legacy-building.   ...
0 comments
Be the first person to recommend this.
Only two words fully describe the MTI 2022 Spring Meeting:  We’re BACK!  Members attending the spring meeting in Hilton Head Island, SC were all pleased to see MTI meeting attendance rising back to pre-pandemic levels, with over 180 in attendance.    The MTI Board of Trustees and Education Committee would like to thank all of the  attendees for their participation in the 2022 Spring Meeting. Members have given rave reviews of their experience, energy, and education at the Spring Meeting. The meeting experienced numerous first-time attendees and they stated that they loved the connection, energy, ideas, content, and people.   ...
0 comments
Be the first person to recommend this.
Maybe Artificial Intelligence could be the answer to many workplace safety questions.   According to computer science literature, Artificial Intelligence is defined as a technique that can mimic the behavior of the human brain.   In recent years, we have seen more and more industry 4.0 solutions whose technology involves Artificial Intelligence, voice analysis, and image detection as an integral part of the manufacturing activity. These may include improving productivity, detecting machine faults earlier, and controlling quality.   In this article, we will discuss how to apply computer vision technology to detect safety hazards in industrial facilities, ...
0 comments
Be the first person to recommend this.
A major change is coming, one that will be felt from the factory floor to the boardroom. Along with the shift from global outsourcing models to regionalized supply chains, the next milestone for manufacturers is the adoption of intelligent automation solutions that enable greater flexibility, resiliency, and higher ROI.   Automating factories has historically been complex and time-consuming, often done on a project basis and in a bespoke manner for an individual production line or facility. Automation goals typically centered around driving up production volume and driving down labor costs. Automated lines were essentially “fixed,” with limited ability to ...
0 comments
Be the first person to recommend this.
New orders for U.S.-made goods increased more than expected in March and shipments rose solidly, but supply constraints following new COVID-19 lockdowns in China could slow manufacturing activity in the months ahead. The Commerce Department said on Tuesday that factory orders rose 2.2% in March after edging up 0.1% in February. Economists polled by Reuters had forecast factory orders would rise 1.1%. Manufacturing, which accounts for 12% of the U.S. economy, faces some headwinds in the near term from China's zero-tolerance COVID-19 policy, which is causing disruptions to supply chains. A survey on Monday showed the Institute for Supply Management's national ...
0 comments
Be the first person to recommend this.
The growth of IoT has spurred a rush to deploy billions of devices worldwide. Companies across key industries have amassed vast fleets of connected devices, creating gaps in security. Today,   IoT security   is overlooked in many areas. For example, a sizable percentage of devices share the user ID and password of “admin/admin” because their default settings are never changed.  The reason security has become an afterthought is that most devices are invisible to organizations. Hospitals, casinos, airports, cities, etc. simply have no way of seeing every device on their networks.  As a result, security threats are on the rise. More than 1.5 billion attacks ...
0 comments
Be the first person to recommend this.
The timing is right to bring digital twin deployment to the frontlines of retooling American industry and infrastructure. A year ago, millions of people celebrated the culmination of a seamless mission: a NASA rover, Perseverance, entered Mars’ atmosphere at more than 12,000 miles per hour, then smoothly decelerated to a mere walking pace as it touched down safely on the Red Planet. It was a thrilling moment. And as I followed the journey of the rover from its launch in Cape Canaveral, it struck me that this historic moment was supported by technology that still isn’t well known outside of industry circles: the digital twin. The digital twin might lack ...
0 comments
Be the first person to recommend this.
Economists expected bookings for all durable goods to rise 1% in March. Orders at U.S. factories for long-lasting goods rebounded in March after the first decline in a year, as manufacturers confronted a worsening supply-chain crisis that continued to weigh on business investment. Bookings for all durable goods – products that are intended to last at least three years – rose 0.8% last month, the Commerce Department reported on Tuesday. Economists surveyed by Refinitiv forecast a 1% increase. It followed an upwardly revised 1.7% decline in February.   Passenger planes and autos – volatile measurements that tend to swing sharply month to month – jumped ...
0 comments
Be the first person to recommend this.
When people leave organizations, they often cite poor workplace communication as a top reason for moving on. But in the age of the “Great Resignation,” it is far from the driving factor, according to Craig Weber, founder of The Weber Consulting Group and author of “Conversational Capacity.” Instead, he says individuals are asking more profound questions about life and job satisfaction; those answers rank higher on the “reasons to leave” list.  But the exchange of information is the groundwork for nurturing the kind of environment that encourages people to stay. “Bad communication may not be the big reason they are leaving, but it is the big reason why they ...
0 comments
Be the first person to recommend this.
Workplace safety is an issue businesses can manage and control, if they have the right tools to measure the economic impact of occupational injuries and illnesses.   The road to workplace safety and health regulations is long and twisty. Millions of workers through the years have died as a result of injuries and illnesses caused by their work or workplace—caused, in fact, by employers who perceive safety as a cost center and workers as an easily replaced commodity. Joseph J. Spengler, in his 1968 article, “ The Economics of Safety ,” asked, “How [can] an optimal balance … be achieved between the value of varying degrees of safety and the cost of providing ...
0 comments
Be the first person to recommend this.
Over 30 members were in attendance at the recent MTI Midwest Chapter Meeting held on April 6 in Lake Geneva, WI. Members from all across the region came together to discuss the long-term impact of rising inflation, supply chain issues, and remote work.   CLICK HERE to view photo highlights.   Ron Hetrick, Chief Labor Economist from EMSI Data, gave an outstanding presentation on the data behind the trends on all three issues. During Ron’s presentation, members had an opportunity to unpack his presentation and discuss best practices they can implement to minimize the impact of inflation and lack of qualified employees.   The overriding tone of Ron’s ...
0 comments
Be the first person to recommend this.
What happens in China doesn’t stay in China, and for American supply chains, that is usually a good thing. American businesses have become dependent on low-cost goods coming from Chinese suppliers. But in a post-COVID world that may be entering the   Second Cold War , reliance on China means that American businesses are held hostage by an autocratic regime that seems oblivious to the damage it is doing to its own economy, much less the global one.  Since the earliest days of COVID-19, China has practiced a zero-tolerance policy to prevent COVID from spreading amongst its population. After the initial onslaught of cases around Wuhan and pockets throughout China, ...
0 comments
Be the first person to recommend this.
Do you know what is happening in your business? Not what is supposed to happen, but what is actually happening on the factory floor? For many managers and leaders, it may have been a while since they actually experienced what it is like where the action happens. Where the products they sell are manufactured, or where the services you offer are carried out. So from time to time, it makes sense to actually go to the “actual place” where things are produced to understand how that is currently operating. This way, you and your team may identify  innovative ways  to improve these operations. One of the most popular ways of doing this is called the  Gemba ...
0 comments
Be the first person to recommend this.
Life is better with good company, especially when you are connecting with other MTI members. Now that in-person meetings are back in full swing, MTI is excited to announce it is hosting a Summer meeting in the Great Lakes Chapter, focused on discussing 4 big topics presenting challenges to most every company:   Rising inflation Supply chain issues Long term impact of remote workers Volatility in the energy markets   MTI has chosen Belterra Casino and Golf Resort in Florence, Indiana to host this informative meeting. Belterra is a true resort experience, offering non-stop gambling action, thrilling entertainment, incredible food, comfortable ...
0 comments
Be the first person to recommend this.
The prices that goods and services producers receive rose in March at the fastest pace since records have been kept, the Bureau of Labor Statistics reported Wednesday. The producer price index, which measures the prices paid by wholesalers, increased 11.2% from a year ago, the most in a data series going back to November 2010. On a monthly basis, the gauge climbed 1.4%, above the 1.1% Dow Jones estimate and also a record. Stripping out food, energy and trade services, so-called core PPI rose 0.9% on a monthly basis, nearly double the 0.5% estimate and the biggest monthly gain since January 2021. Core PPI increased 7% on a year-over-year basis. PPI is considered ...
0 comments
Be the first person to recommend this.
How well do leaders perform during crisis? My firm, Sanborn & Associates, Inc., completed a national research study to uncover lessons leaders can use during these perplexing times. Specifically, we sought to answer: How  well did leaders handle the COVID-19 pandemic crisis and what does that portend for leaders going forward? Survey participants in the national study consisted of 1,005 consumers ages 18-90 weighted to the U.S. Census for age, gender, geography, and ethnicity. This sample composition provided a highly accurate “snapshot of America”.   1. Most employees are more anxious now but a significant percentage ...
0 comments
Be the first person to recommend this.
Strategic thinking has become one of the most valued skills in managers, and many organizations know that strategic thinking is integral to their success. Unfortunately, managers often run into challenges that prevent them from engaging in strategic thought and action with consistency and regularity. Let’s take a look at three stumbling blocks managers often encounter so we can better understand how to help them overcome these challenges. 1. Misalignment in the Organization According to research from Harvard Business Review, 95% of employees in large organizations are either unaware of, or don’t understand, the strategies of the companies they work for. ...
0 comments