A lifetime buy of discontinued spare parts can often result in under- or over-stocked parts due to the difficulty of accurately predicting future needs and the costs associated with purchasing, storing and transporting parts, write Cokeva executives Ken Ueltzen and Mark Anderson. Original equipment managers can avoid these challenges with an effective repair strategy that offers support throughout the product's life cycle, even after manufacturing has ended.
A federal court has struck down the California Resale Royalties Act, which provided visual artists a 5% royalty on their work in the secondary market. The court found the law conflicted with federal copyright law.
Many European automakers use software programs to price spare parts based on how much consumers are willing to pay for them, according to documents filed for a court case. The companies argue that the tactic is legal.
Robotic process automation can take care of back-office duties and help companies reduce human error while cutting costs, Kristin Manganello writes. "Thanks to these unique benefits -- and the upward trajectory of industrial automation in general -- it's safe to assume that RPA will eventually become standard practice across all types of industries and applications," she writes.
Companies looking to reap the rewards of mass customization should "[s]tart at the top, with a commitment from leadership to transform the manufacturing process," writes Vicki Holt, CEO and president of Protolabs. The biggest obstacle to change is often the company's mindset, she argues.
Data is the future of maintenance, repair and operations but needs to be managed properly to deliver value, says Synovos executive Mike Weinberg. "If your MRO program is to be effective, think simple and elegant, not complicated," he advises.
A strong culture for safety is the key to building a better workplace where employees are happy, loyal and more productive, says Chuck LeRoux, director of corporate safety, security and disability services management at Andersen Corp. LeRoux shares how Andersen changed and communicated its values as a first step toward improved workplace safety.
The next generation of skilled workers can be found via in-house programs, at area high schools and among nontraditional labor pools, such as immigrants, writes Drew Slocum of Bank of America Merrill Lynch. "[K]eeping up with the momentum of today's industry begins with empowering and enabling all levels of the workforce," he writes.
Under a settlement between Toys R Us and its lenders, vendors and creditors would receive cash payments with the potential for higher recoveries. The settlement, which is awaiting court approval, would also prevent unsecured vendors and creditors from suing the retailer's lenders.
The ongoing freight capacity shortage is challenging the supply chain and is driven by a combination of factors such as drivers seeking other opportunities, electronic logging devices and drastic weather changes. Shippers can mitigate the problem by using 3PLs, transforming truck shipments to rail or intermodal transport, and making the loading-unloading process more efficient to avoid delays.