Smart Factory Trends to Watch
This article acknowledges and discusses how the unprecedented times we are currently living in make it difficult to predict what lies ahead for specific industries such as manufacturing and life science. However, some key points to be aware of include COVID-19 realities becoming mainstream, mass customization, flexibility, and an increased focus on data to ensure […]
Supply Chain Crisis Continues to Effect World Economy
This article discusses how many signs pointed towards a full supply chain recovery following the coronavirus pandemic. The outlook was so positive that deflation was seen as a problem of the past. However, a full-blown crisis of energy shortages, labor, and transport problems are beginning to be experienced throughout the world. Further, Mohamed El-Erian, president […]
Global Supply Chain Problems are Worsening
This article discusses how the Delta variant of the coronavirus is impacting not only manufacturers and factories around the world but also shipping companies and ports. Because of a lack of important materials, manufacturers are running behind schedule and often are not able to get their product to the final destination. Governments are also shutting […]
Chip Shortage Temporarily Shuts Down Some GM Factories
This article discusses how General Motors’ factories in Fort Wayne, Indiana; Wentzville, Missouri; Spring Hill, Tennessee; and Lansing, Michigan have been affected by a shortage in computer chips. General Motors, the parent company of GMC, Chevrolet, Buick, and Cadillac, will see a halt in production involving their “most profitable vehicles, including pickup trucks and SUVs.” […]
Is Rent-A-Robot the Answer to the Manufacturing Labor Shortage?
In this article, Silicon Valley looks to persuade smaller companies with rent-a-robot, so that companies can allow paying higher wages to their employees. With the rise in better technology and the need to pay higher wages, venture capitalists are “backing a new financial model: lease robots, install and maintain them, charge factories by the hour […]
Amazon Launches New Hub Creating More Than 2,000 Jobs
This article discusses groundbreaking news out of the Cincinnati/Northern Kentucky International Airport that Amazon Air launched an air cargo hub at the location. The $1.5 billion investment will create thousands of jobs that include management, robotics technology, and load planning. This effort is designed to more efficiently “meet the needs of its growing customer base […]
Attracting Talent in the Manufacturing Industry
This article discusses a problem that has been witnessed for many years now within the manufacturing industry, filling open positions. Even though entry-level manufacturing jobs offer higher average pay than most, people are still reluctant to work within the industry. Specifically, the article states that “There’s that image of manufacturing beings dark, dirty and dangerous.” […]
What are the Pros and Cons of Performance-Based Pay
This article is designed for business owners that are considering switching from traditional payment to performance-based salaries within their company. The advantages of this structure are the improvements to the recruitment process, increased employee retention and productivity, and sets clear expectations. However, the cons are that it is risky, can create a negative work environment, […]