Prime Advantage Blog

The Benefits of Renting vs. Buying Material Handling Equipment

Posted by Guest Contributor on Apr 20, 2017 10:15:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Tim Neroni, President and Managing Partner at KMH Systems, Inc., discusses what to consider when deciding whether to rent or purchase material handling equipment.

Material handling equipment is an absolute necessity for modern businesses to stay competitive and increase worker productivity. Forklifts come in many varieties and have a range of capabilities and prices, but their fundamental purpose is to allow workers to move inventory quickly and efficiently.

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Topics: Manufacturing

U.S. Manufacturers are Exceedingly Optimistic About Business Growth

Posted by Mike McDonald on Apr 6, 2017 1:15:00 PM

Prime Advantage recently released the findings of its ninth edition of the CFO Survey, revealing the current and future financial health of midmarket manufacturers across a variety of sectors. The results show that optimism in manufacturing among our Members is at its highest levels since the annual survey’s inception, as well as the most positive outlook for the economy in years.

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Topics: Manufacturing, Industry News

What to Do When Your Engineering Resources are Limited

Posted by Dan Grant on Mar 21, 2017 2:00:00 PM

When a company’s engineering department is being stretched to its limits, this can have a debilitating effect on the organization. For one, this constrains the number of projects that can be in full-process at any given time. This in turn stifles production and innovation, which can weaken a company’s bottom line and decrease its competitive advantage. Limited engineering resources also leads to engineers having to work on administrative tasks rather than being able to stay dedicated to their core manufacturing competency. This creates a ripple effect throughout the organization as procurement isn’t able to source in the most effective way possible without thorough feedback from engineering. This causes management and executives to find themselves in a constant state of scrambling to assess where resources should be imperfectly allocated.

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Topics: Manufacturing, Procurement

3D Printing and its Disruptive Abilities

Posted by Guest Contributor on Mar 14, 2017 10:30:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Matthew Murray of Notable discusses the impact 3D modelling may exert on the manufacturing industry.

The term “disruptive” simply means “to change the normal way of doing something, interrupt the normal progress of something, or to turn order into disorder.” So what makes a process or an invention disruptive?

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Topics: Manufacturing, Industry News

Warehouse Resolutions to Implement This Year

Posted by Guest Contributor on Jan 19, 2017 11:00:00 AM

Prime Advantage has invited industry experts to share insights on the present and future of achieving success in manufacturing and business. In this post, Tom Reddon of National Forklift Exchange, discusses how manufacturing organizations can improve their warehouses.

Working in the warehouse can be a tough and difficult job. At times, many warehouse operations may seem to be overwhelming. Make it a resolution this year to make your warehouse a better one. There are many steps you can take to achieve such an objective. Reinforcing safety principles, promoting teamwork, and implementing automation are just a few ways any organization can drive continuous improvement in their day-to-day warehouse operations.

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Topics: Manufacturing

How Artificial Intelligence Will Revolutionize Manufacturing

Posted by Dan Grant on Dec 23, 2016 1:08:56 PM

“We have this tendency to make things smarter and smarter,” so says, digital visionary, Kevin Kelly, in his recent TED Talk about how artificial intelligence will spawn the next industrial revolution. Artificial intelligence is already doing many tasks way better than a human can do today. It’s analyzing x-rays in hospitals, combing through legal documents, and flying planes, all more effectively than we can do ourselves. It gives us the ability to think differently which in turn leads to new creations and new jobs.

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Topics: Manufacturing, Industry News

Manufacturing’s Temperature Forecast

Posted by Mike McDonald on Sep 22, 2016 8:50:00 AM

Each year, here at Prime Advantage, we survey our Members to see where manufacturing, and specifically procurement within manufacturing, is today and where it’s heading. It’s always encouraging to see when the temperature of this porridge is “hot” or at least, “just right.” Well the results of Prime Advantage’s 8th Annual Purchasing and Manufacturing Survey are in, with some truly fascinating discoveries. On the bright side, 97% of our Member companies are expecting revenue to either jump or sustain in the next 12 months, in comparison to 80% at this time last year.

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Topics: Manufacturing, Industry News

How to Outsource the Backend Tasks of Your Business

Posted by Guest Contributor on Sep 20, 2016 10:15:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Jason Dasher of Commercial Truck Financing discusses how to contract out certain job functions for a competitive advantage. 

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Topics: Manufacturing, Industry News

Controlling Inbound Freight Costs

Posted by Guest Contributor on Sep 9, 2016 1:07:35 PM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Neal Willis of ReTrans Freight, discusses the tools and strategies you can use to minimize freight prices.

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Topics: Manufacturing, Supplier and Member Best Practices

LTL General Rate Increases and Their Impact on Costs

Posted by Guest Contributor on Sep 1, 2016 9:00:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Neal Willis of ReTrans Freight, discusses how to manage rising LTL prices.

It’s a widely accepted practice of LTL carriers to make periodic adjustments to their base rates through the form of a General Rate Increase (GRI). Historically speaking, GRIs (increases) usually occur once a year, however, there have been years when carriers imposed more than one GRI in the open market, and also years when carriers didn’t impose one at all. Carriers consider many elements when factoring what GRI percentage they will be imposing onto their customers, some of which include the carrier’s operating ratio, damage claim rates, the state of the overall economy and the demand for freight in general.

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Topics: Manufacturing

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