Prime Advantage Blog

The Cybersecurity Threat in Manufacturing is Real

Posted by Alison Chebuhar on Aug 8, 2017 3:15:00 PM

A staggering 39% of manufacturing companies responding in a recent Deloitte survey reported experiencing a cybersecurity breach in the past 12 months. And over one-third of these companies lost between $1 million and $10 million as a result of the attack. These attacks can wreak havoc upon businesses in terms of lost productivity, ransomware payments, and intellectual property being made public to the competition. Phishing, pharming and social engineering make up the majority of the breaches, according to the report.

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Topics: Manufacturing, Industry News

How Artificial Intelligence is Empowering Procurement

Posted by Alison Chebuhar on Jun 21, 2017 10:40:00 AM

As the role of purchasing continues to expand and time becomes more scarce, it’s good to know that help is on the way. Though artificial intelligence isn’t “help” in the traditional sense, its capabilities for strengthening procurement aren’t either. The benefits of AI are much more significant. And if your firm delays in embracing AI, it will be giving the competition who makes it a priority a leg-up. Any company looking to perform true strategic sourcing will need AI’s assistance in tackling the challenging and nuanced task.

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Topics: Industry News, Procurement

Technology Trends Driving The Future of Manufacturing

Posted by Guest Contributor on Jun 6, 2017 2:00:00 PM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, tech enthusiast and freelance writer, Heather Redding, discusses the technologies changing the face of manufacturing.

Like all industries, the world of manufacturing is in the midst of a technological revolution. Traditional industries are being reshaped by technical innovation and things are getting more competitive and faster moving than ever. It's important for businesses to understand the latest technology trends and use this knowledge to bring new products to market and improve processes. In addition to products being improved and costs lowered, the customer experience is being enhanced through customization and speed. Here are some technology trends that are driving the future of manufacturing.

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Topics: Manufacturing, Industry News

How to Maximize Your Cyber Security Without Sacrifice

Posted by Joe Ptak on May 19, 2017 4:15:00 PM

Cyber security is as hot of a topic as there is out there right now. And that isn’t likely to change anytime soon, or possibly ever, as it is estimated that 75 billion devices will be connected to the internet by 2025. This is a matter that touches each and every one of us in our business and personal lives. If properly addressed, being surrounded by connected devices can significantly enhance our existence and elevate what we’re all capable of accomplishing. But if not taken seriously, the ramifications could cause significant hardships and bring our ambitions to a screeching halt.

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Topics: Industry News

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

What to Know When Considering Volume LTL Shipments

Posted by Guest Contributor on Apr 11, 2017 10:50:00 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 the pros and cons of shipping volume LTL.  

For most carriers, shipments begin to meet the cubic capacity limits around 750 cubic feet, which is roughly around 7 pallets and/or 6,000 lbs. When freight begins to approach these dimensions, it’s always wise to check LTL carrier volume rates for further options. Even though it doesn’t fill an entire trailer, shippers sometimes opt to send these moves via full truckload as a more economical alternative. Volume LTL is often overlooked as a cost-effective option and offers several advantages over full truckload or regular LTL.

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Topics: Industry News

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

Is Your Company's Cybersecurity Unprepared?

Posted by Alison Chebuhar on Apr 4, 2017 1:45:00 PM

The Internet of Things (Iot) and smart devices have made our lives a whole lot easier. We can put a pot of coffee on, adjust the room temperature, and turn on the lights, all as we’re pulling up to our driveway. In the workplace and on manufacturing plant floors, smart machines connect to each other to create harmony in production, use thousands of sensors to make modifications in real-time, and can even repair themselves. At the rate technology advances in the modern age, the present seems more like that future than ever before.

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Topics: Industry News, Analytics and Technology

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

Reduce Your Healthcare Costs with Simple Technologies

Posted by Mike McDonald on Feb 9, 2017 3:00:00 PM

Healthcare spending continues to put more and more of a strain on employers and their employees with each passing year. As national healthcare reform looks to be a continual and unpredictable process, it’s up to individuals to find small ways to save on healthcare expenses wherever they can; in hope that all those little reductions will add up to something significant. Leveraging various easy-to-use technologies is a great strategy to employ to reach this goal.  

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Topics: Industry News

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