Manufacturing is on a downward trend after eight months of PMI (purchasing manager's index) below 50. It dropped to 46 in June. China's manufacturing also shrank for a third month in a row to a PMI of 49. Yet manufacturers backlogs remain relatively robust in many industries, leading executives perplexed on what to do about capacity shortfalls.
Globalization is not working. Geopolitics abound. For example, the war in Russia and Ukraine ravages on. There are concerns around the nuclear power plant in Ukraine, occupied by Russia. And that is aside from the impact on oil, food, commodities and much more. China continues to threaten Taiwan and has already changed Hong Kong. It is no longer the same for business. There are countless risks throughout the world.
There are mountains of geopolitical threats going on with significant impact on the supply chain. Most, if not all of these also relate to natural resources.
In manufacturing and supply chain, AR (augmented reality), VR (virtual reality) and digital twins (digital representation of an intended or real-world physical product, system or process) are a few exciting opportunities with a multitude of uses.
Table of Contents What is All the Hoopla Over ChatGPT? What are the Uses of AI in Manufacturing? AI Uses in Logistics Is AI Good or Bad? Who Certifies the Certifiers? Should Manufacturers and Distributors Pursue AI? How Does AI Relate to ERP? What is All the Hoopla Over [...]
The best companies focus on production scheduling. Even though Production Schedulers aren't typically highly paid positions, the function will make or break your ability to serve customers, improve operational performance and accelerate cash flow. Thus, it should be a key priority if you want to achieve profitable growth.
If you want to serve your key customers successfully (with high on-time-in-full (OTIF), short lead times, and proactive service) so that you can take advantage of the opportunities coming down the pike while addressing the hard realities of the current business environment (potential recessions, high interest rates, and less access to capital), you MUST balance sales, operations and inventory.
There might not be a need. Since it is one of the largest expenses your company will undertake, and, more importantly, it will impact customer performance and profitability (positively or negatively), there is no reason to jump into the deep end of the pool before understanding the value to your growth and success.
Table of Contents Volatility is the New Norm How Does Inventory Relate to Volatility? Go Back to Fundamentals Best Practice Processes Final Thought Volatility is the New Norm If there is one thing that is certain in today's world, it is that volatility and change are the new normal. [...]
The "Solution" to Successfully Dealing with Shortages, Delays & Inflation Table of Contents Supply Chains: There is No "Return to Normal" Inflation Is Real How Can SIOP / S&OP Help? How Does This Relate to Resolving Shortages & Delays? How Does This Relate to Dealing with Inflation? How Does [...]
