Business schools teach that high barriers to entry in an industry can create better price elasticity, which leads to the ability to generate better margins. To many business experts, this is "Business 101." I've observed some leaders still practice this methodology to help them scale their... Continue Reading
To prevent accidents as prevalent as those related to the eyes, taking a predictive approach to planning is key. Despite their small size, our eyes are pretty big targets when it comes to workplace injuries. Every day, 2,000 Americans suffer eye injuries on the job, resulting in about 27,000... Continue Reading
Digital technologies are transforming operations, changing the daily duties of nearly every employee. Automation is changing the needed workforce skills. The demand for technology skills will rise by 55% by 2030, according to the 2018 McKinsey Global Institute (MGI) report, Skill Shift:... Continue Reading
Procurement has an opportunity, indeed an imperative, to transform from an enabler of cost reduction to a creator of sustainable competitive advantage. Traditionally, procurement has been the efficient workhorse for organizations, driving cost savings percentage point by percentage point,... Continue Reading
What’s the point of marketing in manufacturing? Many companies do not have a product that they can sell through the click of some advertisement because there are too many specifications involved—so why even spend the money to create the ad? These sentiments are shared by the... Continue Reading
The MTI Educational Foundation is excited to announce that it has finalized and awarded $51,000 in scholarships to 11 recipients. Educational Foundation Chair, Mary Springer from Thermtech in Waukesha, Wisconsin stated, “With a record number of over 40 applicants, the Foundation is proud to... Continue Reading
A tech expert at Kuka addresses some basics. Manufacturers aren’t entirely familiar with the opportunities and benefits the Internet of Things (IoT) can deliver. In fact, 30% of manufacturers struggle to understand the IoT altogether, according to a study by advisory firm Sikich. But that... Continue Reading
A systems integrator/cybersecurity analyst outlines the risks associated with letting third party partners—and internal engineers—into the manufacturing network, and the things that can be done to avoid trouble. Manufacturers are often in need of help when it comes to deploying a... Continue Reading
In most organizations it is leaders who are responsible for setting out the organization's strategy. Because of their position at the top, they have insights and oversight that others in the organization don't have. Furthermore they have the power and capabilities to make sure that the rest of the... Continue Reading
At the MTI Winter Board Meeting, one of the key additions to MTI’s strategic plan was the establishment of a Cybersecurity Committee. This new committee was charged with developing best practices, continual content, and checklists. All allowing members to gain information and prepare their... Continue Reading
In an accelerating supply chain, effective management of costs, people and data is becoming more crucial. As the Amazonization of the world accelerates, the only governor on this high-speed pipeline is the ability to manufacture products fast enough to keep pace with consumer expectations and... Continue Reading
August 5, 2019 Retail electricity prices are largely driven by natural gas prices. Even though power is generated from a variety of sources—hydroelectric, wind, solar, nuclear, coal, gas— generating plants are paid based on the last fuel used to meet demand, which is almost always... Continue Reading
