In every manufacturing enterprise there are three basic costs that must be immediately considered as an owner assigns a value to a product. First, there are the direct material costs. This refers to the cost of the “raw materials” that … Continued
In the process of making a product, there are three basic expenses: direct material cost, direct labor cost, and manufacturing overhead cost. The sum of these three costs is referred to as the “manufacturing cost” of a product. This total … Continued
Nice graphical representation of the U.S. Manufacturing industry. The Total Manufacturing numbers for the U.S. have had a 127.10% gain since 1980, fantastic! Yes, the face of the U. S. manufacturing industry continues to change but the strength of U.S. … Continued
MRP (or material requirements planning) is a system – either software-based or pen-and-paper – that is a central component of production planning, scheduling, and inventory. An MRP system is often part of a larger enterprise resource planning (ERP) system and … Continued
According to the June report on US Manufacturing Statistics manufacturing remains strong and hit its highest for 2014. New orders for US manufacturing sectors in automobiles, computers, chemicals and other products caused the index to reach 55.3%. American manufacturers don’t … Continued
I came across an article this morning that indicated, according to reports published Thursday, computer giant Hewlett-Packard (HP) could cut as many as 30,000 jobs to compensate for dwindling demand for personal computers as more people are … Continued
As I was researching and posting relevant (I think) information regarding the lack of skilled labor to accommodate the growth in the manufacturing industry. I came across several articles, but one that really caught my attention. Please … Continued
I’ve been posting about manufacturing returning to the United States and the concern over whether the manufacturing industry will be able to handle the load due to a shortage of skilled workers. I read this article, A glimpse into the Engineering … Continued
An interesting article regarding the Tool and Die industry. Once again, good news on the manufacturing front, but more concern of a shortage of workers to accommodate the growth. Read the article here.
I’m reading another article on reshoring, or bringing manufacturing back to the U.S. This article is particularly interesting because it talks about the possibility that reshoring could create 2 to 3 million new jobs by the end of the decade. … Continued