The long tail is a concept established by Chris Anderson, who pointed out that the internet gave consumers choices beyond what was offered in physical stores. eCommerce offered niche markets the chance to appeal to their audience through major marketplaces likeAmazon, streaming services like Netflix, and music stores like the iTunes Music Store.
Many manufacturers claim they are paralyzed by thoughts of putting the Internet of Things to work for them because they can’t justify the business case to put the wheels in motion. To these manufacturers I say, “Don’t make it more complicated than it needs to be.”
Not that long ago, supply chain visibility tended to be an internally-focused process, one that allowed manufacturers to know when exactly they could expect to receive inbound goods and materials from their suppliers so they could plan and adjust their production schedules. While that’s still an important capability for companies to have, the Age of the Consumer has shifted the focus of visibility initiatives in the direction of the customers.
In the past century, grocery chains have grown in power and control of their supply chains placing increasing demands and an enormous burden on their suppliers. But do manufacturers have an ace up their sleeves?
3D printing has come a long way in an extremely short span of time. Initially built by Charles Hull in the 1980s as a tool for making basic polymer objects, today, the technology has spurred remarkable efforts in several manufacturing sectors; from building intricate aircraft and race car components, to human organs and prostheses.
For years retailers have relied on Radio Frequency (RF) EAS labels to help decrease shrinkage and ensure merchandise is available for customers to purchase. However, with increased competitors and greater pressures from consumers, retailers are seeking ways to further streamline operations and optimise their inventory.
Per a survey by the National Association of Manufacturers small businesses are carrying an unbalanced portion of the $2.02 trillion which federal compliance regulations burden the economy. The average U. S. Company pays almost $9,991 annually per employee in order to comply with those regulations. The average manufacturer practically pays double of that amount per employee for the year. For the small manufacturers, with less than 50 employees, the cost runs about $34,600 for each employee. The claim for this cost disparity is based upon economics of scale. A firm with only 20 employees incurs the same expense as a firm with 300 to 500 employees. The larger firms can readily withstand these costs due to spreading the costs over larger revenues and a large employee base.
Manufacturing is expected to grow 3.5% in 2015 and 3.9% in 2016, according to a new report from The MAPI Foundation.
In their Harvard Business Review article “Restoring American Competitiveness,” Harvard Business School professors Willy Shih and Gary Pisano argued that restoring the ability of enterprises to develop and manufacture high-tech products in America will be important in restoring our country’s competitiveness.
Traceability and tracking are two terms that are often used interchangeably, especially by professionals concerned with the procurement process. While the latter regards the action of monitoring the distribution of goods, the former concerns a firm’s ability to collect data pertaining to separate entities working cohesively to create a particular product