Prime Advantage Blog

Overcoming the Top Challenges Facing Manufacturing Today

Posted by Mike McDonald on May 3, 2017 11:10:00 AM

At the Prime Advantage Spring 2017 Conference, manufacturing professionals came together during the Business Roundtable and Benchmarking Sessions to discuss the biggest issues they’re currently dealing with and teased out solutions for tackling them. Members realize that they’re not alone in the challenges they encounter in their day-to-day activities and that through shared intelligence and experiences, there isn’t a single problem that couldn’t be solved together.

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Topics: Manufacturing, Industry News, Group Surveys

Five Questions Every CFO Must Answer

Posted by Joe Ptak on Feb 18, 2016 10:06:00 AM

The most strategic of CFOs are able to answer the tough questions, and answer them well. They create clear visibility into what's driving -- or veering the company away from -- profits and growth. Intacct Corporation recently hosted a webinar entitled, "5 Questions Every CFO Should Expect From the CEO," explainingthat financial executives are playing a larger organizational role than ever before. Businesses look to their finance department to provide leadership in understanding the dollars and sense of how their company is truly running under the hood. All while asking them to balance the monetary aspects of the business with the operational.

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Topics: Group Surveys, Analytics and Technology

What are the True Costs of Doing Business with Your Suppliers?

Posted by Thyra Nelson on Sep 3, 2015 7:30:00 AM

Everyone knows how to negotiate based on price. Dollars and cents are easy to compare, but how does one measure the value you receive at that particular price? This abstract concept has long been pushed as a best practice but can be vague and time consuming to measure.

The terms "Total Cost of Ownership" and "best value" are commonly heard throughout the industry, but full adoption of these concepts has been limited. The payback isn't as immediate as "piece price," for example, and it's difficult to justify a supplier switch by telling management, "Don't worry, it will pay off eventually."

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Topics: Manufacturing, Supply Chain, Group Surveys

Supply Chain Resiliency Growing in Importance

Posted by Thyra Nelson on Aug 18, 2015 8:52:00 AM

As we previously mentioned in our How Do Your Suppliers Measure Up? post, there are many ways manufacturers hold their suppliers accountable. We recently completed our annual Purchasing and Manufacturing Survey (PM Survey) of our Member companies and there were some fascinating results about how today's manufacturers are measuring their suppliers. The participants agreed, you still must maintain the standard three metrics of quality, delivery and cost. But companies are also placing growing importance on flexibility to respond to unexpected demand as well as responsiveness to change requests.

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Topics: Supply Chain, Group Surveys

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