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.
This article first appeared on the NIST Manufacturing Innovation Blog and is written by Samm Webb, Project and Resource Coordinator with the NIST MEP Extension Services Division.
The persisting crisis in the global supply chain has disrupted many small and medium-sized manufacturers (SMMs) and put a premium on problem solving and short-term solutions for getting parts and supplies. While there are no easy answers to untangling these global supply chain challenges, the dynamic has created opportunity and momentum for supplier scouting. It is possible to see how the focus on supply chain management strategies and total cost of ownership will lead to more reshoring of manufacturing.
This is an original article written by Scott Schein, Director of National Network Programs at GENEDGE, part of the MEP National Network.
The pandemic revealed potential vendor-based weaknesses for many small and medium-sized manufacturers (SMMs). Late deliveries have increased, materials have become scarce, quality is less reliable, and prices have ticked upward. These issues and general upheaval in global supply chains make supply chain management an urgent focus for many SMMs.
Part 1 to this blog discussed the importance of incorporating ESG into your business strategy for stakeholders including customers, employees, and investors. In this follow up, you will learn how and why ESG evolved from its Corporate Social Responsibility (CSR) origins, transcending the latter’s internal perspective with an outward-facing regimen of objective, measurable, stipulated standards to validate and verify reductions in impacts such as carbon footprint/output.
This is an original article from NIST Manufacturing Innovation Blog.
While Fridays have always been a reason to celebrate, the first Friday of October is one that is near and dear to the MEP National NetworkTM, as this year, Friday, October 1, is Manufacturing Day (MFG Day)!
Organizing your MFG Day events may have changed quite a bit in the last 18 months. Prioritizing safety, venue capacity constraints, and reduced corporate travel have presented real challenges for organizing manufacturing expos, conferences, factory tours, and other in-person traditional events.
An original article by Mark Allen Roberts, Sales Consultant, Coach, and CEO of OTB Solutions
Even in the 21st century when automation and digital disruption are all the rage, manufacturing productivity is still a people business. It’s not just about software, management theories, or even logic — people are a hybrid of reason and emotion and managing to optimize productivity and other metrics is as much about how people feel, as it is about what and how they think.
