June 2018 IQReport
Recent ISM Survey Shows US Manufacturing Continues to Expand
Economic activity in the manufacturing sector expanded in May, and the overall economy grew for the 109th consecutive month, say the nation’s supply executives in the May 2018 Manufacturing ISM® Report On Business®
U.S. manufacturing expanded at a faster pace in May and order backlogs grew by the most in 14 years. Other highlights include:
- PMI Factory index rose to 58.7 (est. 58.2) from 57.3 (readings above 50 indicate expansion)
- Production Index registered 61.5 up from 57.2.
- Measure of new orders improved to 63.7 from 61.2
- Order backlogs continued to expand to it's highest since April 2004
- Employment gauge increased to 56.3, the first gain in three months, from a 54.2 reading
Top 10 Reasons Why OEE's Importance is Soaring Today
Manufacturing is now a digitally driven business. Manufacturing companies are rapidly adopting analytics and BI to capture production performance at the machine level, then scale and translate that insight throughout the supply chain to increase efficiency, quality, and growth.
A recent IQMS survey indicates 62% of manufacturers who consider analytics and Business Intelligence (BI) extremely valuable/very valuable have adopted OEE as one of their main metrics for measuring manufacturing performance.
OEE is the foundation for improving production line performance and process quality as well as a catalyst for new revenue growth.
IQMS Cloud ERP Provides Ventura Manufacturing Scalability and Efficiency
With eight plants globally running from a single ERP instance on a server in Zeeland, Michigan, the IT team at Ventura Manufacturing faced the challenges of scaling their systems to support global growth fueling their company’s expansion.
Running IQMS’ manufacturing ERP system delivered via Hosted Managed Services (HMS) Ventura Manufacturing was able to solve their challenges. The IQMS HMS solution provides Ventura:
- Greater scalability and speed to expand into new global business opportunities
- An economical system architecture for greater efficiency as well as to attain disaster recovery goals
- Increased supply chain efficiency and visibility by scheduling production in the plant closest to the customer
- Reduced MRP processing time from 2 hours to 8 minutes
- A 50% reduction in processing production reports
IQMS New Chief Revenue Officer (CRO) To Spearhead Customer-Centric Initiatives
IQMS is pleased to announce Dan Vertachnik is joining IQMS as the new Chief Revenue Officer (CRO). Dan will be leveraging his extensive customer-centric expertise to drive companywide business strategies, and relationship initiatives focused on providing superior customer and prospect experiences.
“I am excited to lead the IQMS sales team and our partners in synchronized efforts that create a superior experience for customers and prospects, and maximize their understanding of how to leverage our software in driving their efficiency, competitiveness, and profitability,” Dan said.
Turn the Myth of Real-Time Shop Floor and ERP Integration into Reality
Your shop floor operates in real time. It moves fast and so must you. Beyond the collection and integration of shop floor data, the real challenge is to make that data actionable – in an instant – to everyone, within your organization, and across your entire supply chain. Only by doing so will you achieve the visibility and control you need to be competitive in today’s demand-driven economy.
While this challenge may seem complex, you can attack it head-on, intelligently, and more cost-effectively than you might think.
- Improving quality
- Decreasing costs
- Improving productivity
- Increasing capacity<>
Download the whitepaper, Real-Time Shop Floor Integration, Simplified,to learn how an ERP system integrated with the shop floor can help reduce downtime, eliminate overruns and improve quality. Download Now!