The manufacturing industry is, of course, rife with waste. Whether it’s idle workers, inefficient production lines or unused materials that can’t be recycled or repurposed, the results are the same: a drag on productivity. This insistence on eliminating waste and improving the manufacturing pro...
By integrating seamlessly with other systems and equipment, MES enhances visibility, enforces quality, and ensures maximum efficiency across all aspects of the manufacturing journey, from raw materials to finished products. A company that uses MES wisely will optimize its manufacturing operations and imp...
A Unique Selling Proposition (USP) is a statement that concisely states what you sell, to whom you sell it, and why it’s better/different than what else is out there. It can be applied to either an individual product or an overall company. When someone reads your unique selling propositi...
No single KPI can indicate how a plant or manufacturing company performs. Moreover, some KPIs, such as on-time delivery, reflect not just the performance of one plant but of an entire supply chain. Leading manufacturers use analytics to help managers understand the issues underlying each of ...
The true definition of a multinational company isn’t that it manufactures in other countries, however; the true meaning is that the business has operations in multiple countries. This can take form in many different ways besides manufacturing. Take McDonalds for example. They have almost 35,000...
A wholesaler, on the other hand, is a middleman between a manufacturer and a retailer (or end consumer). It buys products in bulk from the manufacturer and resells them in smaller quantities for a higher price. Types of Manufacturing Production There are three main types of manufacturing ...
The most significant difference between a manufacturing company and a merchandising business is that a manufacturer makes goods to sell and a merchandiser buys or acquires goods for resale. In developing a small business, it is critical to understand whether your strengths, available resources a...
Furthermore, by enabling additive and distributed manufacturing, companies are moving workloads into regions and markets that make the most business sense. From quality of design to speed-to-market to responding to customer demands, distributed manufacturing is a game-changer for company innovation and...
The sunk cost fallacy is a psychological barrier that ties people to unsuccessful endeavors simply because they've committed resources to it. 沉没成本谬误是一种心理障碍,它将人们与不成功的努力联系起来,仅仅是因为他们已经投入了资源。 Examples of sunk costs include salaries, insurance, rent, nonrefundab...
Focus on material transition and tier-two-supplier energy transition.Transforming fibers into garments—a fossil-fuel-heavy manufacturing process in many countries—accounts for around 70 percent of the industry’s emissions. Innovative, lower-cost green materials (such as cotton replacements, recycled ...