Inventory control practices are one of the best ways a company can stay organized - and is an area that companies in any industry can and should practice to ensure long-term growth. Inventory management refers to the process of ordering, storing, using, and selling a company's inventory. This includes the management of raw materials, components, and finished products, as well as warehousing and processing of such items.
Last month, I had the opportunity to observe a leadership development training at a manufacturer. The difference between this training compared to others I’ve observed is that this training was facilitated in Spanish.
A 6-part series focusing on impactful practices for developmental coaching conversations.
"The hardest thing for people to understand is that the relationship is the delivery system of anything you try to accomplish." - Peter Block
This is an original article from the NIST Manufacturing Innovation Blog.
By: Art Thomas
Credit: iStock/Yuri_Arcurs
Many manufacturers have had to make significant changes in suppliers in recent years because of various disruptions. Small and medium-sized manufacturers are often resource-challenged and do not have supply chain specialists to focus on vetting suppliers.
Meet Caitlin Simhauser, the President and Managing Owner of Ronk Electrical Industries and one of IMEC’s newest Board members. In a recent virtual interview, Simhauser shared insights about herself and her company, which has been manufacturing electrical products and equipment since 1950.
A 6-part series focusing on impactful practices for developmental coaching conversations.
Holding people capable (accountable) is an important part of building trust, maintaining standards of excellence, and achieving goals in any organization or personal relationship.
Supply chain is one of the most important aspects of the manufacturing industry. In order for the manufacturing process to actually begin, companies need the necessary materials to make the desired product. What exactly is supply chain? Supply chain consists of the sequence of different processes involved in the production and distribution of a product, good, or other commodities.
Some challenges for manufacturers in 2023 continue to be recruitment & retention and meeting customer expectations, especially as customers are asking about your social responsibility. These challenges have led to high turnover, inability to meet production demands, customer loss, and lack of market expansion.
Inventory is money. How well do you track your inventory “money”? Do you know where all of it is every day or are there piles of “money” just sitting in unknown locations? When dealing with dollars, we want to know where it is, how much we have, and be confident the amount is accurate. Remember, inventory is money. If you do not know where your inventory is, or how much you have with certainty, you are losing money.
A 6-part series focusing on impactful practices for developmental coaching conversations.
If you have read the previous post in this series, thank you! If this is the first time you popped open one of my posts, thank you!
Writing is not one of my stronger skill sets. Writing is an arduous experience as I tend to overthink grammar, punctuation, sentence structure, logical flow, and the greatest fear of all…being judged by an unidentified person behind a screen who I will most likely never meet. Better yet, what if they respond and like the post and I need to respond intelligently and respectfully? What if I sound like a complete ne’er-do-well? All this white noise in my head leads to me losing sight of the fact that I’m simply sharing my thoughts and ideas and that takes a ton of courage. When I write something and put it out there for public viewing, I am being completely, unequivocally, 100%, vulnerable! And therein lies the artfulness of asking questions – being completely, unequivocally, 100%, vulnerable.
