Whether you have a fully developed Six Sigma-based program in place or are simply keeping an eye on productivity, it’s important to be looking at metrics. Not only do they give an account of your current status, they can help you to identify opportunities for improvement. According to lean expert Larry Fast, manufacturing and …
According to a recent study on entry level employees, which included positions at manufacturing and distribution plants, there are a number of contributing factors that can make or break a manufacturing and distribution company’s employee retention rates. Results of the study were discussed in a recent article from Business Knowledge Source and included the …
It’s that time again – time for New Year’s resolutions. Aside from the usual personal goals, maybe it’s time to make some resolutions for your supply chain. In Industry Week’s new article, “10 Supply Chain New Year’s Resolutions,” author Michael J. Gravier, Ph.D., offers some suggestions. Here are a few to consider:
Become more transparent. …
Hopefully, 2017 will be a year of great prosperity for you and your business. What risks will businesses face in the coming year? CPA Practice Advisor’s managing editor Isaac O’Bannon reports on the findings of a new study examining these risks. “Recent global uncertainties and their potential effects on businesses are top of mind …
OSHA has issued a final rule regarding record-keeping of workplace illnesses and injuries. The final rule’s amendments clarify employers’ obligations, but they do not add any additional compliance requirements.
The final rule reads, “The duty to record an injury or illness continues for as long as the employer must keep records of the recordable injury …
Measuring operational profitability is a complex process. AgStar’s Lori Teigin shares some insight into this process. Here are some of the factors involved in calculating profitability:
Accrual: Teigin explains, “From a lender’s standpoint, accrual analysis, not cash, is the best way to look at how your business is performing.” (She goes into greater detail …
Efficiency and cost are significantly impacted when electronic and tech assets are not properly tracked – whether they’re lost, broken, or even stolen. Supply Chain 24/7 lists five ways the mismanagement of these assets will affect your business. Here are the top three:
Delayed jobs and services: If workers can’t do their jobs, that …
Every industry has speculated about what changes might occur once President-elect Trump takes office on January 20, 2017. Here are a few of the policy issues that could impact domestic manufacturing:
Tax: President-elect Trump has spoken at length about tax reform. He has proposed lowering the individual tax rate to 33% and the corporate …
It’s estimated that 20% of U.S. farms do not have a next generation who will take over. That means these business owners have begun to consider partnering with non-family members. Agricultural expert Dr. Dave Kohl has some advice for this process:
Make a list of business, family, and personal goals. What do you hope …
A new study gives an in-depth look into equipment leasing and purchasing trends. The study, released by the Equipment Leasing & Finance Foundation, found that 78% of businesses used at least one form of financing when acquiring equipment in 2015. This figure is up from 72% in 2012. Modern Materials Handling has some of …
