From 100 years of the Ford assembly line to defining manufacturing operations acronyms to understanding how mid-market firms are prospering, this week’s industrial round-up serves up some insightful discussions.
An Ideas Laboratory article published by The National Center for the Middle Market discusses how a recent report indicates that middle market firms have increased employment and profits by implementing advanced technology techniques. Automation, computer technologies, process technologies, and information technology are among these applications. 47% of mid-market manufacturers have adopted advanced manufacturing techniques and have reported an average of 20% increase in profitability over the last 5 years. These firms are predicted to experience an employment growth of 4.7% over the next year. Learn more.
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Software is an investment that requires much research and onsite demonstrations before the purchase is made. However, it often isn’t until after the sale that the real challenges arise: implementation. Tim Lozier of EtQ states that nearly 68% of all software projects were declared either failed or challenged due to cost, missed deadlines, or lack of functionality. Lozier provides a few key solution aspects that must be discussed and clarified when speaking with a potential software vendor. 3 steps for implementation success.
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Matthew Goyette published an article on Apriso’s blog this past week that displays the impact that Ford’s perfected assembly line and the conveyor belt have had on mass production for the past 100 years. Not only did this concept increase production and minimize production times back in 1913, but the simply concept has not changed in today’s industrial setting. The changes that have been adapted during these years have been advancements in technology and software applications. The belt is still going strong.
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Manufacturing acronyms are everywhere, and as the space rapidly evolves, it’s easy to become lost in translation. Mark Davidson, Principal Analyst, has developed a list of the 20 manufacturing operations acronyms that are most prevalent in today’s world. Use this as a refresher, a cheat sheet, or even a first time study guide: MOM’s Alphabet Soup.
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In the LNS Research Manufacturing Operations Management Best Practices Guide, LNS provides additional step-by-step details on how MOM, when combined with properly aligned business and manufacturing processes, can help your company improve its manufacturing operations and better meet overall business goals. Follow the link below to read the guide.
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