Good insights and takeaways for small business. Operations and manufacturing
Excerpt: Abstract: Manufacturers are caught in a global talent squeeze. In mature economies, skilled talent has become elusive, and in emerging economies the pools of qualified talent are increasingly cost-prohibitive. Manufacturers must think beyond boundaries to leverage creative talent sourcing practices, develop global talent competencies, and cultivate “glocal” (global plus local) employer brands and employee value propositions.
See introduction and download pdf here via Building a Global Talent Pipeline: Finding, Developing, and Retaining Tomorrow’s Manufacturing Workforce.
I love sharing good news and predictions — this article is good!!
Excerpt: Consensus views on a U.S. manufacturing resurgence have largely centered on rising labor costs in markets such as China as the key driver of re-shoring back to the U.S. However, a new PwC US report, A Homecoming for U.S. Manufacturing?, reveals that while rising labor costs are part of the story, a range of factors—including transportation and energy costs and protecting the supply chain—could drive a sustained manufacturing renaissance in the U.S. beyond any cyclical recovery, potentially improving investment, employment, production output and research & development (R&D).
PwC’s new report identifies seven factors ……
Read full article via PwC says U.S. manufacturing “resurgence” may lead to job growth – Article from Supply Chain Management Review.
They have reprinted this article from 2011. It is still timely, and the study provides great information of a cross section of manufacturing. Where and what will happen? Can manufacturing lead the economic recovery? Great read.
Excerpt: … findings emerge from a recent sector-by-sector analysis of U.S. industrial competitiveness, along with a survey of 200 manufacturing executives and experts, conducted by Booz & Company and the University of Michigan’s Tauber Institute for Global Operations.
Read full article via Manufacturing’s Wake-Up Call. From Strategy + Business
Recommended read for small business and entrepreneurs in a product business…… article advice and takeaways are important.
Excerpt……….Product developers can learn much from manufacturing, but many have gone too far in applying ideas that work in manufacturing to their realm. That’s because they have ignored some fundamental differences between the two disciplines. Let’s look at three and their implications.
Read full article…….via Innovators, Are You Applying the Wrong Lessons from Manufacturing? – Donald Reinertsen and Stefan Thomke – Harvard Business Review.
Adapting to today and planning their growth in this new economy. Leadership and C-Suite
Excerpt…….Strategies are changing. While they’re downbeat about the economy, industrial manufacturing CEOs are positive about their own growth prospects. To make sure they’re ready to compete, 72% say they’re changing strategy this year, taking into account the slow economy, customer demands, and competitive threats.
Read full article……via Industrial manufacturing industry focus: 15th Annual Global CEO Survey: PwC.
Good read and great information……. most of us know what we need from the data but start to become lost in the execution process needed to obtain that end.
Excerpt and introduction…….MDM is not a technology but rather a discipline that needs to be meticulously introduced in an organization. MDM is a requirement for all organizations, especially in manufacturing where millions of dollars are spent in marketing and efforts to provide a better customer experience. Lately, MDM has evolved as a necessity for businesses with a direct focus on customers.
What Is MDM?
To understand MDM, it is essential to comprehend company data in its entirety, especially all the sources that need data or that provide valuable data. Understanding the data and logically grouping that data in respective modules can be termed as an MDM function. In standard terms, MDM is the business capability that delivers a single, trusted and complete version of critical data assets to applications and end users to support efficient operational business processes and strategic decision-making.
Read full article…….via Tips to Get Started with MDM – Information Management Newsletters Article.
For the newbie here are some basics about manufacturing accounting …..costs . Entrepreneurs and small business owners
Excerpt……..In the world of manufacturing–as competition becomes more intense and customers demand more services–it is important that management not only control its overhead but also understand how it is assigned to products and ultimately reported on the company’s financial statements. We view overhead as two types of costs and define them as follows:
Read some basics…….via Manufacturing Overhead Costs – Defined, Examples | AccountingCoach.com.
Manufacturing small business and startups recommended read……… the author outlines what he believes will make the difference in manufacturing global competitiveness, and it may not be what you think.
Excerpt……..The United States pioneered the concept of contract manufacturing organizations in the 1980s when Japan was a fearsome economic power and Western companies were realizing they could no longer rely on the vertically integrated production philosophy that dated to Henry Ford. The idea quickly spread from electronics (Solectron was an early exponent) to automotive (GM spun off Delphi, for example) and biopharma. There are still quite a few CMOs around, but most of the truly successful ones aren’t American. They’re in Singapore, South Korea, Taiwan, Ireland, and even Switzerland.
That imbalance represents a huge missed opportunity for the United States in its attempts to regain global competitiveness.
Read full article………via Unglamorous Freelance Manufacturers Could Boost U.S. Competitiveness – Dan Breznitz – Harvard Business Review.
Some detail on a reality that IS…. and a solution that worked. Manufacturing, funding, leadership…small business
Excerpt…….The real issue is whether anything can be done about this investment trend. The answer is yes.
The way to increase seed- and early-stage financing for physical-product start-ups is to reduce individual investors’ risk by improving the quality of due diligence and spreading risk across a larger number of investors. Consider, for example, TruTouch Technologies and the $3 million in funding that was financed by the SEC-accredited, paid subscriber community of my web-based economics and finance-services company, iTulip
Read full article……via Community Financing Breathes Life into a New U.S. Manufacturing Firm – Eric Janszen – Harvard Business Review.
Interesting read ……includes a discussion of the challenges business, including small business, will most likely face as we go forward.
Excerpt……..The U.S. health industry is highly regulated, highly dependent on capital for technologies and facilities and labor intense. For U.S.-based hospitals, ambulatory providers, plans, bio-pharma and device manufacturers, the future is complicated. The industry should anticipate contending with three major forces: (1) the Affordable Care Act legislates fundamental changes in the financing and delivery of care, (2) U.S. economic recovery and deficit reduction means cuts in health and (3) demand for health services soars as a result of consumer expectations and the aging population……….
Read full article……via Deloitte | 2012 outlook on health care, life sciences and government | Paul Keckley | John Bigalke. From Deloitte
Operations……tools for lean manufacturing borrowed from the Janapanese…….
Excerpt…….That’s why the age-old tool known as “5S” is so effective. Born as a disciplined practice inherent to the lean manufacturing process known as the Toyota Production System, 5S is the term given to five Japanese words that, taken together, provide a comprehensive pathway to simplicity in the workplace.
The five principles have been translated into five English words, all starting with S as well
Read full article……….via 5 Ways To K.I.S.S. : Lifestyle :: American Express OPEN Forum.
If you wish to join this forum of various experts with questions and responses on finance, accounting and management…it is entirely free. Of if you just want to read this question and comments………good information from peers and experts in the field…. via the link below.
Excerpt…..question intro….inefficiency in some areas of our manufacturing process. Could Activity-Based Costing help?
Read comments to question….. via We are seeing high levels of inefficiency in some areas of our manufacturing process. Could Activity-Based Costing help? | Proformative.
More today on managing differently in today’s world….for manufacturing through value chains.
Excerpt……”Companies that are thriving in this two-speed world are really good at managing both mass production and just-in-time production. They’re able to make fast adjustments up and down the value chain in response to changing market dynamics. And they make smart use of subcontracting to manage capital commitments against different production steps.”
Manufacturers that want to optimize their operations in the two-speed world can learn from those that faced tough economic restraints in the past.
Read full article…….via Manufacturing in a Two-speed World – Knowledge@Wharton.