A strong trend of consolidation in the American manufacturing sector makes remaining competitive a challenge for small, independent manufacturers, writes Jason Ray in a new article from Forbes. The author recommends making investments of time and money in four key areas: customer diversification, digitization, use of data and analytics, and building a knowledge base …
The pandemic has required manufacturers to implement a number of changes in order to weather the long-term crisis. A recent article from CPA Practice Advisor examines four strategies that leading lean manufacturer Toyota has relied upon to thrive in the face of difficulties. Click here to learn about how the company strategized in the …
This article explains how research and development teams sometimes find difficulties when working together. Some difficulties may include using various work styles, different time zones, and different experience levels. Hybrid manufacturing teams need to move fast now more than ever, so delays in communication through “phone tag, unread emails or missed messages significantly halt …
This article explains how research and development teams sometimes find difficulties when working together. Some difficulties may include using various work styles, different time zones, and different experience levels. Hybrid manufacturing teams need to move fast now more than ever, so delays in communication through “phone tag, unread emails or missed messages significantly halt …
This article discusses a potential change that could be occurring for taxpayers that receive the research and development tax credits. Currently, immediate expensing is allowed for taxpayers who are granted R&D credits. However, the Tax Cuts and Jobs Act is set to eliminate immediate expensing starting in 2022. This Act operates under an amortization …
This article shows how manufacturers can implement AI and smart edge computing into their factories without having to ramp up infrastructure investment. Smart edge computing enables robots to continue to do their jobs with or without a strong internet connection. Edge computing also is cost-effective and has reliable security because edge systems are decentralized. …
This article explains why hyper-automation is the solution for companies attempting to automate simple routine procedures. Hyper-automation is defined as ” end-to-end automation that combines complementary technologies such as deep learning, advanced analytics, machine vision, natural language processing, RPA, and artificial intelligence to augment business processes.” To discover if end-to-end automation can deliver substantial …
This article explains why manufacturers should steer away from old traditions and embrace digital technologies. Manufacturing companies are under pressure for finding new ways to cut costs, boost productivity, improve profitability and optimize consumer experiences. Some manufacturing companies are gaining a competitive advantage over other companies because they have implemented “Internet of Things technology …
This article acknowledges and discusses how the unprecedented times we are currently living in make it difficult to predict what lies ahead for specific industries such as manufacturing and life science. However, some key points to be aware of include COVID-19 realities becoming mainstream, mass customization, flexibility, and an increased focus on data to …
This article discusses how many signs pointed towards a full supply chain recovery following the coronavirus pandemic. The outlook was so positive that deflation was seen as a problem of the past. However, a full-blown crisis of energy shortages, labor, and transport problems are beginning to be experienced throughout the world. Further, Mohamed El-Erian, …
