May 2019 IQReport
Tackling the Skills Gap with Technical School Partnership
With Baby Boomers retiring at a rate of 10,000 per day—taking their technical and institutional knowledge with them—manufacturing is grappling with a skilled worker shortage.
Nidec Corporation, a global manufacturer of electric motors, knows this first hand. To address the skill gaps in their workforce and prepare their organization for future successes, Nidec is partnering with four year educational institutions to provide opportunities for vocational and technical training.
One such successful partnership has been the “microenterprise model.” Sometimes described as reverse internships, microenterprises are located on college campuses, and companies provide leading-edge equipment and technologies. Students learn how to perform a range of technical services, from inspecting parts and assembling products, to testing functions, conducting quality control and filing reports. In addition to receiving pay as part-time employees, students also receive Workforce Education college credits. It's a winning strategy for all involved.
A recent IndustryWeek article highlights Nidec's programs to help contribute to state-wide skilled workforce efforts. Click here to read the complete article and learn more about Nidec's programs to provide manufacturing technical skillsets desperately needed to support the economic growth of the industry.
Mobility Is Digitally Transforming Manufacturing
Manufacturers are transforming themselves daily, with the most successful able to orchestrate a series of digital technologies to achieve cost, growth and profit goals.
By relying on analytics, mobility, real-time monitoring/Manufacturing Execution Systems (MES), security, and smart, self-diagnosing production machines, manufacturers can reinvent themselves and stay ahead of potential problems before they occur.
A recent Forbes article highlights the characteristics that set apart the manufacturers who excel at transforming themselves to improve while launching new digitally-driven businesses. Click here to read the complete article, How Mobile Devices are Defining Manufacturing's Future.
Seven Ways Real-Time Monitoring is Driving Smart Manufacturing
Manufacturers are obsessed with shop floor productivity, and they are aligning their budgets and spending accordingly. With a focus on the shop floor, real-time monitoring is proving a critical technology to drive their smart manufacturing initiatives and gain both competitive and time-to-market advantages over others in their industry.
A recent Manufacturing.Net article highlights the seven real-time monitoring practices manufacturers can apply to realize the cost efficiencies, time-to-market advantages, and competitive gains enabled by smart manufacturing.
Enabling Business Growth Via Optimized Operations
Headquartered in Greensboro, North Carolina, Core Technology Molding Corporation is a manufacturing solutions provider that focuses on delivering cost-effective, integrated and innovative solutions to the world’s leading companies. Since 2007, two words have marked the foundation of its success story: organic growth.
Realizing their current legacy system lacked the functionality and scalability to support future expansion, they turned to IQMS ERP Software. With the move to IQMS, Core Technology Molding is furthering its initiatives to improve communications, capacity planning, and cash flow, as well as reduce risk and ensure high quality. Read more.
Survey Results: Shop Floor Investments That Drive Growth
76% of manufacturers say improving shop floor productivity is their leading growth strategy for 2019.
A recent Decision Analyst’s survey of 150 North American manufacturers provides a timely glimpse into the technology investments driving the growth strategies behind today's most successful manufacturing companies to help:
- Drive greater shop floor productivity
- Achieve greater speed, scale, and visibility
- Improve production yields and product quality
- Overcome the skills shortage
- Increase lifetime customer value
Download results from the survey, Shop Floor Productivity Investments that Drive Manufacturing Growth, to learn how the fastest growing manufactures have been able to achieve more revenue growth than their peers. DOWNLOAD NOW!