The Tax Cuts and Jobs Act (TCJA)—a sweeping update to the U.S. tax code—was signed into law at the end of 2017. A recent article published by Successful Farming offers an overview of how the TCJA is expected to impact the farm and ranch industry. Readers should bear in mind that it is impossible …
Universally, the cost of employee turnover is felt in both the budget and the overall culture of a company. With a turnover rate 33% higher than other industries in the U.S., manufacturers need to develop strong initiatives to maintain good employees. In addition to high turnover, these companies also struggle to attract younger workers …
Undoubtedly, the growth and continual improvement of artificial intelligence (AI) has been revolutionary for the manufacturing industry. In addition to reducing expenses, AI has provided manufacturers with opportunities and information that would have been nearly impossible to receive prior to the invention. Forbes Insights recently published an article examining the advantages AI offers manufacturers …
Most industries in the U.S. manufacturing sector source at least 10% of their intermediate inputs from countries outside of the United States. Recent legislation to raise import tariffs will likely increase costs for U.S. manufacturers purchasing foreign intermediate inputs. In an article for Tax Foundation, writer Erica York offers an overview of a recent …
Succession planning is a long-term job. In order to avoid struggles in this area, Sara Schafer offers five steps for successful succession planning:
Cultivate a strong and focused management team.
Maintain an accurate assessment of the business value of your farm.
Conduct an audit of the power structure of your business.
Regularly assess and …
The sale of complex industrial parts has long been a difficult task, but new technologies are making the job easier. A new article from Thomas explains three methods for easing the stress of selling complex parts.
Use an online catalog – Make things easier for your customers and yourself by developing an online product …
For today’s manufacturers and consumers, the more information the better! A recent article published by Manufacturing.net explores the use of Internet of Things (IoT) technology in order to digitize supply chains. Author Tom O’Boyle discusses how IoT technology is being incorporated in the following areas:
Manufacturing Plant – The use of passive and active …
The use of robotics in manufacturing is rapidly increasing—and with good reason! Incorporating robotic technology has resulted in improved output and, therefore, increases in revenue and efficiency. In a new article for Manufacuring.net, author Kayla Matthews discusses five ways that the use of robotics in manufacturing helps to improve output.
Handling of Raw Materials …
One of the biggest challenges to manufacturers today is figuring out how to structure their compensation system. In a recent article published by Manufacturing Today, Mark Donnolo suggests some strategies centered on a sales performance management plan.
A challenge many manufacturers face is communicating “c-level goals”—the goals developed by company leadership—in a practical way to …
In an exciting turn for farming, Smart Ag, an Iowa-based ag technology firm, has successfully tested AutoCart, a system allowing existing farm equipment to operate autonomously and is selling a limited number of the systems this year, writes Ron Swoboda for Farm Industry News.
Swoboda details the following benefits of this new system:
Helps solve …
