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.
As the cliché, but true saying goes: “numbers don’t lie.” We can’t help but agree as we review our 2021 client reported impacts! While it is certainly a time of celebration here at IMEC, it’s also a celebration for the 1600 manufacturers who have invested in their competitive futures. By partnering with IMEC and reporting the impacts our work has contributed to their business, it allows us to show that we all play an important role in a much bigger story. These numbers speak volumes to the value our clients add to our manufacturing ecosystem. Not only are companies on a path to enterprise excellence, but they are also strengthening Illinois’ economic well-being, their communities, and their organization as whole.
This is an original article from the NIST Manufacturing Innovation Blog.
Digitization and connectivity are having a huge impact on more than just your manufacturing operations and ability to monetize data. Your vulnerabilities also are increasing as Industrial Internet of Things (IIoT) manufacturing solutions involve more software, devices and digitally connected employees.
The manufacturing industry continues to be at high cyber risk as a result of global competition and geopolitical tensions. Companies up and down the supply chain are demanding more transparency into their customers’ and suppliers’ reliability in order to mitigate risks from disruptions. Some are starting to require cybersecurity assurances, a trend that will only gain momentum. Enforcing cybersecurity standards will ultimately protect U.S. innovation and competitiveness.
This is an original article from the NIST Manufacturing Innovation Blog.
This blog is the second in a series on cybersecurity and Industry 4.0.
In blog one of this series on “Cybersecurity and Industry 4.0 – What You Need to Know” we discussed the four aspects of Industry 4.0: cyber-physical systems (CPS)/cobots, Internet of Things (IoT), cloud manufacturing and automation, as well as how they are interconnected. Strong cybersecurity practices protect those interconnections, ensuring manufacturers’ systems consistently deliver accurate data in a timely manner – something critical to the success of an Industry 4.0 model.
This is an original article from the NIST Manufacturing Innovation Blog.
Is your organization, like so many others today, struggling to recruit and retain a well-qualified and high-performing workforce? Are your workers excited to be a part of your team and motivated to serve your customers? Do they care for one another and the success of your business?
This article first appeared in Industry Week.
This article is written by OTB Solutions.
My clients are experiencing both prosperity and uncertainty. Many clients are having record-breaking sales and profits this year. Often the challenge now is meeting the growth in orders and hiring team members to support this growth. Sales leaders are happy, CEOs are happy and the shareholders are pleased we are meeting and often exceeding their growth objectives.
There are literally thousands of options that you can pursue in manufacturing, with the potential return on investment varying from a -100% return to a 100%+ return. The challenge for manufacturing companies is to have a process to determine what the next steps should be. IMEC has a basic process that can help you to navigate these waters and bring some clarity to your next step.
This article is written by Winsby.
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.
