Manufacturing Day: Open Doors, Open Minds

by Chris Ilcin, Account Superintendent Inspiring the next generation of manufacturers. We were going to do a big wrap-up of all the Manufacturing Day 2018 events our clients, partners and friends hosted, but this video from the National Association of Manufacturers does a better job than we could.     Please make sure you share. And start prepping now for Manufacturing Day 2019!  read more >

What’s Holding US Manufacturing Back?

Today we have a post from Andrea Olsen. Andrea started her career in the tech start-up world, and has brought much of that innovative thinking to her work as the CEO of Prag’madik, an operational strategy consultancy, specializing in the industrial and manufacturing markets. What's Holding US Manufacturing Back? There has been an ongoing national conversation about bringing manufacturing back to the United States. The government, states, educators, and organizations have been pushing a resurgence through, addressing many of the roadblocks facing these organizations, including: lack of skilled labor, decreased sales, advancing lean manufacturing, integrating additive manufacturing, robotics, IoT and Big Data. The middle-market manufacturers - primarily in the Midwest, in the range of $50-$500m in revenues, employing 10-800 people - face a unique set of challenges. While the advancement of things like 3D printing and robotics will undoubtedly change the manufacturing landscape, these manufacturers face much more basic challenges to compete - and more accurately - survive the next 3-5 years. This isn't about the "skills gap," or "robots taking jobs," or "offshoring" or even "regulation burdens." Those challenges are further downstream for these manufacturers. Today's issues are much more fundamental. The advancements in digital technologies, communications platforms, and simply the Internet, have dramatically impacted business operations and overall competitiveness. The "blocking-and-tackling" of things like: embracing change, utilizing technology platforms, digitizing information and fostering an innovative culture, are the true essentials for US middle-manufacturing growth. Here's a short list of those essentials: 12788read more >

Change Your Definition, Change Your Business. Learn From Other Industries How to Manage Change

By Chris Ilcin, Account Superintendent, Sonnhalter A recent Industry Week article by Becky Morgan showcases how a changing industry can adapt and thrive or fixate and die, and has some great advice for being on the right side of that divide. Her first point is to draw parallels between the state of manufacturing today and that of agriculture at the turn of the last century. Rocked by disruptive innovations, a changing marketplace and demographic shifts. And yet agriculture is still around. It’s fundamentally changed, but in a way that’s of benefit to consumers: more productive, larger scale, but with a core of, to use an overused term, “artisanal” craftspeople ready to cater to niche markets. She sees manufacturing developing in much the same way. 12641read more >

3 Pricing Adjustments Manufacturers & Distributors Should Make Now

This post originally appeared on INSIGHT2PROFIT.com Years ago, an Ohio-based specialty metal business made the decision not to charge for freight costs, even though their products were extremely heavy. The rationale? None of their competitors were charging, so they couldn’t either. In reality, this company was  No. 1 in the industry, so all those competitors were actually just following their lead. When the company realized what was going on, it had the opportunity to change the policy for its entire industry. And so it did—collecting more than $1 million in additional revenues. Smart companies know pricing strategy isn’t just about the price on the invoice. To have an immediate impact on your bottom line without formally raising prices, here are three areas to tackle first. 1. Freight Costs If you’ve been operating for decades, your freight policies have probably been in place just as long. Maybe you don’t charge for freight at all, or fees are the same across all territories—or you charge the same as you did 50 years ago even though shipping rates have risen dramatically. To start, ask yourself: When was the last time our freight terms were updated? What is our justification for our freight policy? What are our competitors doing in this space? This line of questioning can help internal stakeholders determine if there’s opportunity for improvement without much effort, as the aforementioned specialty metal business discovered. 2. Rush Orders When you place an order on Amazon.com and you want 2-day shipping, you understand you’ll have to pay premium pricing—in this case, $99 for a year of Amazon Prime. Your customers realize this, too. Yet many manufacturers and distributors don’t charge extra for rush orders. If your lead time is two weeks, but your buyer needs his order in three days, are you charging extra? In order to get that order…read more >

Marketing 101 for Manufacturers

I recently had the privilege of co-presenting a “Marketing 101 for Manufacturers” seminar for MAGNET (Manufacturing Advocacy & Growth Network) with a colleague of mine, Sage Lewis, president of SageRock. You can see the full presentation here, but I want to focus on one of the closing slides of this presentation, “10 Key Factors for Successful Marketing Programs.”read more >

How Manufacturers Can Help Distributors Ramp Up Their Cash Flow

A friend of mine Abe WalkingBear, developer of a copyrighted profit system that focuses on improving cash flow, has agreed to share some of his insights (some are truly unique) on how manufacturers can help ditributors. He's written books, is an international speaker and co-authored STAFDA's Foundations of Business 2007. Old military funny money finds new life in business. During this time of slow sales and extended delays in business credit customers' payments, an old idea is reborn. read more >

Manufacturers Shifting Marketing Dollars

Everyone is trying to get the most out of what they're spending this year and the manufacturing sector is no exception. With B-to-B leads from traditional sources slowing down, marketers are looking for other avenues. Many are shifting dollars to online options as they are less expensive and easily measurable.read more >