Technology and markets are continually evolving, dividing industrial companies into three broad categories: innovators, followers, and status-quo. What determines which camp a business falls into is largely decided by who is at the helm; are they a risk-taker or conservative with the company’s resources? First we’ll distinguish leasing versus buying, then apply those differences to […]
Put It Out To Pasture: When Replacement Makes More Sense Than Repairing Machinery
When you buy heavy industrial machinery you spend a lot of time researching your next purchase, sometimes hiring consultants to aid in your selection process. The hope is that you can use this machine or piece of equipment for decades to come, however, in most instances this isn’t feasible due to wear and tear/costly repairs […]
Is Your Business Ready For The Next Wave of Manufacturing Reshoring?
Over the past several years we’ve heard a great deal of rhetoric from politicians and business leaders alike regarding manufacturing jobs. Main arguments surround cost and availability of resources—business leaders stating US manufacturing is too costly with rising labor rates as their leading concern, while politicians clamor for more blue-collar opportunities for their constituents. Decades […]
IoT And It’s Impact on Industrial Equipment
For decades we’ve seen incremental innovations and improvements to manufacturing and machining equipment creating higher precision, faster production, and increased reliability. This is anticipated progress. What wasn’t expected was the disruptor of Internet of Things (IoT) becoming a reality and promising a leap forward in manufacturing efficiency and cost-effective maintenance. What is Internet of Things? Internet of Things, […]
Adopt Sustainable Manufacturing Practices To Drive Profits
It’s a common misconception to think that profitability will be higher when environmental concerns are minimized. In fact, in 2010, The World Economic Forum and Boston Consulting Group joined forces to identify and compare companies with the most effective sustainability practices, ranging from $25M to over $5B valuation. What they found from their study of […]