The United States has an approximately $800 billion goods trade deficit. This equals about 40% of actual U.S. manufacturing output. The future state of U.S. manufacturing depends substantially on our success in reducing, rather than further increasing this deficit.
Last month we focused on some key facts, figures, and acronyms surrounding the trade initiatives, which are boosting competitiveness and manufacturing potential in the ten nations that make up the ASEAN region. We also looked at why some companies are relocating to Southeast Asia (SEA) from China and the importance of diversifying their supply chains beyond a single source. This month we will focus on key considerations and information for manufacturers who are interested in relocating to the region. (Read More)
Despite the thriving business ecosystem in America during the 2000s, the high cost of local production pushed American manufacturers to outsource manufacturing services abroad, mainly to China. However, the manufacturers did not always get the best product. Some incurred hefty losses despite having well-crafted strategies to lower production costs and increase profit margins. (Read More)
It was just a few years ago that Just-In-Time (JIT) was all the rage. One could not open a business publication without seeing a piece extolling the virtue of a global supply chain. The advances in technology made ordering from across the world as easy as ordering from across the street. Communication and transportation were at the center of this revolution. This seemed to provide a solution to one of the more vexing aspects of business – inventory control. Holding vast quantities of inventory is a cost but not having what is needed is more expensive yet. The ability to get what was needed at exactly the moment it was required changed all that. (Read More)
As companies grow from national to international, private to public, so does their tendency to apply increased layers of bureaucracy and rigid hierarchical structures, often accompanied by a death knell for innovation. In this episode Frances Brunelle, The President of Accelerated Manufacturing Brokers inc. speaks with Sheryl Corrigan, the Director of Environmental Health and Safety at Koch Industries, about what sets their company apart from other companies of its size. Sheryl explains how Koch’s founding principles of experimentation and entrepreneurship continue to guide the company in pursuing disruptive technologies as well as the competitive advantage that comes with manufacturing. Listeners can expect to hear Sheryl break down exactly how Koch empowers its employees and provide them with opportunities to share their insights and rise through the ranks. We also discuss how disruption can be a disaster, additive manufacturing, and why Sheryl prefers to do business with private companies. For all this and more, join us today!