Prime Advantage Blog

Successful Manufacturing Companies Are Selling Outcomes

Posted by Dan Grant on Jul 21, 2017 11:20:00 AM

There’s a shift happening in manufacturing as prosperous companies are increasingly focusing on outcomes, rather than solely on products to drive profits and growth.  In the past, it was sufficient to strive to meet each individual segment’s needs. But now, outcome-centric organizations are targeting and tailoring value propositions to each individual customer. To achieve this, companies must have a strong partnership with their customers so that they know them well enough to understand the specific outcomes they’re seeking.

Read More

Topics: Manufacturing, Analytics and Technology

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.

Read More

Topics: Manufacturing, Industry News

Sourcing Strategies for a Volatile Metals Market

Posted by Alison Chebuhar on May 17, 2017 2:50:00 PM

At the recent Spring 2017 Prime Advantage Conference, Lisa Reisman of MetalMiner gave a Metals Outlook presentation on how procurement should approach the metals market and all of its fluidity. Reisman contends that most forecasters are notoriously inaccurate and that metal production and consumption numbers are largely useless to metal buying organizations. These numbers aren’t very actionable and fail to correlate to the timing of purchases. The chances of hitting a bullseye when prophesying based off of these figures is extremely small.

Read More

Topics: Manufacturing, Strategic Sourcing, Procurement

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.

Read More

Topics: Manufacturing, Industry News, Group Surveys

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.

Read More

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.

Read More

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.

Read More

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?

Read More

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.

Read More

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.

Read More

Topics: Manufacturing, Industry News

Search Our Blog

Subscribe to Blog

Stellar-Regular