News

Manufacturers Remain Optimistic About Future Despite Ongoing Supply Chain Issues

Up against stubborn headwinds like worker shortages and inflation, many of nation's manufacturers remain optimistic but cautious about what the future holds. In its latest survey, the National Association of Manufacturers, which represents 14,000 member companies, found more than 78% of... Continue Reading

How to Become “Lucky” in Your Career and Life

The “happenstance” approach to life can help. “In the shadow of the pandemic… a new singular narrative has emerged: one of calamitous decline and fall. The Great Discontent has led to The Great Resignation or Reshuffle, a set of titles that puts people leaving jobs they... Continue Reading

Inflation Rises in August as Gas Prices Cool

Consumer prices ticked up during the month of August, bucking expectations that inflation would fall slightly, the Labor Department said on Tuesday. Why it matters: Costs for shelter and food continued to jump, though plummeting gasoline prices helped ease overall price gains. Driving the... Continue Reading

How CEOs Can Lead Their Managers In A Direction They Don’t Want to Go

A big hint: it's not about being persuasive. But you can get there by following these five steps. You’ve decided you need to pursue a critical new objective in your organization. You have the support of the executives closest to you. But even though you’re the CEO, to succeed you will... Continue Reading

Four Action Steps for Shoring Up OT Cybersecurity

Putting time and intent into the setup can save time and cost later. Cybersecurity isn’t a foreign concept to industrial enterprises. Management, engineers, and technicians can’t help but see the headlines in the trade and business press, regardless of their sector. In fact, a 2019... Continue Reading

The Value of Self-Initiated Disruption

“Within five years, if you’re in the same business you are in now, you’re going to be out of business.”— Peter Drucker Recently, I watched a series of fintech startup investor presentations. These early-stage companies sought VC funding to take their... Continue Reading

MTI Launches New Business Insurance Program

Over the last few months, MTI has posted out for comments from members on how their current business insurance programs with property, liability, errors-omissions, commercial auto, and workers compensation have been progressing. What we learned is this is a huge pain point for most members. ... Continue Reading

Survey: Manufacturers Need to Reduce “Operational Friction” with Their Suppliers

Solutions include streamlining log-in requirements and resolving queries faster, HICX says. Suppliers are struggling to put their best foot forward as they do business with major manufacturers, and point to complex “operational processes” with those clients as the main problem, a new... Continue Reading

The Labor Shortage Is Killing American Manufacturing. Here’s How AI Can Bring It Back To Life.

US manufacturing is poised for a significant resurgence. The supply chain debacles caused by the pandemic have shown the weakness of an over-dependence on a long supply chain, especially one outside the US. Further, the rising tensions with China have caused the US to question its dependence on... Continue Reading

Innovation Should Stretch from Top Floor to Shop Floor

When R&D, production, packing and even marketing are in close proximity, new ideas can thrive in a different way. Factories have been a thriving part of the global economy for more than two centuries, well before Henry Ford and his famous assembly line. Back then, manufacturing was at the... Continue Reading

Prepare Your Culture for a Recession

Now is the time to prepare your business for the recession. In addition to the typical strategies of cost-cutting and cash flow management, add culture-building. A healthy, effective, and resilient company culture can help you not just survive, but actually thrive during an economic... Continue Reading

Effectively Training New Employees During a Labor Shortage

The U.S. manufacturing industry is looking at a potential shortage of 2.4 million workers in the next decade. Here are my tips on how to overcome this shortage with more effective training. As we dive headlong into current and pending U.S. manufacturing labor shortages, it’s critical to... Continue Reading