Words can mean different things at different times. It is easily confusing to understand the words diversity, equity, and inclusion (DEI) and their relevance to manufacturing. So, let’s clarify some of the common words. But first, the reality is that manufacturing has been introducing diversity into the workplace for decades, Rosie the Riveter exemplifies how six million women joined manufacturing in World War II. Jump forward to 2022 and the workforce is ever more diverse as demographic shifts reshape the workplace.
Champaign precision machine shop improves quality and processes, and sees an increase in new customers after achieving dual certifications for ISO 9001:2015 and AS9100D.
This article is written by Winsby.
From initial planning to analyzing the results
Marketing seems simple: you’re just spreading the word about your company, right? That doesn’t take much skill, right? Wrong and wrong.
Marketing requires more than just putting together an email or writing an ad. Marketing is a nuanced, multifaceted process that can overwhelm even the most successful business operators.
Guidepost: A post, at the intersection of 2 or more roads bearing a sign for the guidance of travelers.
It’s the year 2022. The challenges now and over the next several years in manufacturing are significant. The landscape is everchanging with much of this driven by technological and societal change that is advancing us into the new frontier of the 4th Industrial Revolution. So just exactly how do we find our way? How do we focus and work on things that really matter? One thing is for sure, you can follow, or you can lead! And if you lead, what direction do you go and how do you stay the course? To begin, let’s think Strategic Planning and Execution.
As we navigate past the pandemic, companies are facing the effects of the “great resignation.” Diversity and inclusion are no longer a nice to have, but an essential part of a company to thrive and grow. Research has proven over time that diversity, equity, and inclusion (DEI) practices contribute to organizational success, such as 70% more likely than their peers to capture new markets or 25% more financial returns above the national industry mean for companies that are top quartile for gender diverse executive teams.
This is an original article from NIST Manufacturing Innovation Blog.
Disruptions in the global supply chain have led to a new dynamic for many small and medium-sized manufacturers (SMMs) – the need to be more strategic about “second sourcing” and reshoring. The biggest increase is in what’s referred to as second sourcing, which adds redundancies such as a second source of a supply to minimize risk while increasing options. But supply chain experts also are seeing an interest in relying long term on domestic supply sources.
Recruiting and hiring new employees is costly and time-consuming. It has been noted, an average organization loses anywhere between 1% and 2.5% of revenue on the time it takes to onboard and orientate a new hire to their position. And manufacturing organizations are experiencing a steady decline in hiring.
IMEC is proud to recognize Stacey Curry Lee, Technical Specialist in Workforce Development, who recently achieved the International Coaching Federation (ICF) Associate Certified Coach (ACC) reinstatement.
Cash-flow strategies are imperative in manufacturing because the cash-conversion cycle can be quite lengthy. Here are several strategies to consider for your business:
Track Your Cash Flow
The only way to know where your cash is going is by monitoring your cash flow biweekly or monthly.
We can hire some employees with credentials in hand. You hire engineers with an engineering degree or an accountant with an accounting degree. The degrees these employees hold give you the evidence that these people have followed a specific training protocol and have achieved a certain level of proficiency. Unfortunately, not all people are ready or able to pursue a degree or formal education program. Many of these people are on your shop floor or in your office. However, just because they don’t have a degree doesn’t mean they don’t want a career with your company. By providing an opportunity for everyone in your company to build a career, you are addressing some of the inequity which resides in the workplace, while improving engagement and retention of your valued employees.