Weekly Wrap Up For May 27th, 2022

On today’s episode host Harry Moser discusses with Lew Weiss how manufacturers measure competitiveness by comparing delivery, quality, and price and why U.S. manufacturers keep losing out on price. Harry looks closely at how the U.S. lost its edge and the path back to global manufacturing leadership. Harry also explains how companies could bring back up to 30% of what we import without raising their prices or negatively impacting their profits.

FoxconniPhone Maker Foxconn to Enter U.S. EV Manufacturing Industry

Taiwan-based Foxconn, known officially as Hon Hai Technology Group, reached a deal last week with Lordstown Motors to acquire the EV startup’s sprawling plant in northeast Ohio. This new deal will have Foxconn produce Lordstown’s Endurance pickup. Foxconn will also co-develop EVs with Lordstown, however, this will be dependent on if the startup can survive its current cash crisis which led to the deal with Foxconn in the first place. (Read More)

ReshoringManufacturing Supply Chain Disruptions Could Last into 2023

Supply chain disruption could continue for more than another year, according to the newest Resilient M4.0 Supply Chain survey conducted by the National Association of Manufacturers’ Manufacturing Leadership Council.  A combination of factors is causing major fundamental shifts in supply chain approaches across the industry. These include pandemic lockdowns, blocked shipping lanes, container scarcity, material and component shortages, extreme weather events, rising prices and military conflict. (Read More)

Ransomware AttackAgricultural Machinery Manufacturer Hit with Ransomware Attack

This week, AGCO, a major U.S. agricultural machinery manufacturer, was hit by a ransomware attack that affected its business operations and shut down its systems. AGCO, which is headquartered in Duluth, Georgia, is known for designing, producing, and selling machinery like tractors, combines, foragers, hay tools, and self-propelled sprayers. The company also produces smart farming technologies, along with seeding and tillage equipment. (Read More)

Changing demographics are creating new roles and leadership opportunities for women in family businesses. However, there are numerous stereotypes, unconscious gender biases, and even family traditions that can present challenges for women stepping into these positions of leadership, particularly when taking the reins in a multicultural, multigenerational family business! This has been the experience for Filomena Malvone, the Owner and Manager of Jerry & Sal’s Pizza Restaurant in Hanover, Pennsylvania, and the author of What Would You Do If…, a situational book to promote problem-solving skills among young children. Today, Lydia Di Liello sits down with Filomena to discuss some of these challenges and find out how she overcame them with determination, hard work, and finesse, emphasizing the importance of building meaningful relationships along the way. We also touch on the value of speaking multiple languages, fostering a company culture that feels like family, and surrounding yourself with encouraging supporters, plus so much more, so make sure not to miss today’s show!

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