Business Strategy
How to Better Your Machine Tool ROI
The justification of purchasing a new machine tool is becoming more and more difficult, particularly with today’s technology and global competitive economy. Return on investment (ROI) strategies based on past inefficient manufacturing performance does not represent today’s machine tool technologies. With competitive pressures the way they are, exotic materials and more complex designs, manufacturers need to be smarter, leaner and more profitable. Above all, the challenge of maintaining your competitive edge and generating the fastest possible return of your investment is crucial.
Read MoreNever Say Never
If I think back a few decades, NC machines—the Neanderthal ancestor of CNC—were ignored for tooling applications or one/off prototypes.
Read MoreChina’s Shifting Fortunes
The 2008 Summer Olympic Games in Beijing were seen as China’s maturation as a culture, an economy and a global power. They also mark a crossroad for China. Nixon’s historic visit in 1972 set in motion events that would change—and are changing—our world. And not much has changed more in the past 30 years than manufacturing. But, this type of change is never without its challenges, and China is finding itself at a stage of maturity where its trajectory toward manufacturing/economic dominance is slowing down a bit.
Read MoreIt’s Worth the Time!
What if I told you that at your fingertips is an opportunity to get a free advertising program in Plastics Technology magazine to market your products and services.
Read MoreHow Online Communities Can Help Your Business
Let’s look at how online communities (OCs) can have a positive impact on—and support—your business’ strategic development and initiatives. The cultural impact of OCs on the future of manufacturing can’t be overemphasized. As young students, engineers and manufacturers enter and move up the ranks of manufacturing companies (including yours) they’ll be bringing with them expectations to communicate in the ways they are most comfortable.
Read MoreEveryone Is Welcome
Account managing is the fine art of balancing the needs and expectations of your customer with the skills of your company personnel.
Read MoreThe Custom Manufacturing Megatrend: A New Industrial Revolution
New methods of manufacturing are bringing about fundamental change in the way products are designed and delivered.
Read MoreThe Seven Ds of a Buy-Sell Agreement
My client handed me his 13-year old buy-sell agreement. The business value, specified as a fixed amount, was about 3 percent of the current market value. Any problems here? First, the value is not current and too low. Attempts to enforce the contract would result in litigation. Second, the IRS will not accept the low value for estate tax purposes. Third, since this agreement is not current, the funding for the buyout does not exist. Either the buyer or the company must come up with funding or it’s very likely all or part of the business will have to be sold to a third party.
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