Whirlpool reported a 31.7% year-over-year increase in second-quarter sales on Thursday while warning that it could raise prices again on certain products because of inflation worries, says Chief Financial Officer Jim Peters. "We have been pretty predictable in terms of raw materials and pretty stable in terms of our outlook," says Chairman and CEO Marc Blitzer.
The Mid-Atlantic Regional Spaceport plans to build a 150,000-square-foot facility in Accomack County, Va., for manufacturing Rocket Lab's Neutron rocket after receiving zoning approval. The facility would create at least 250 jobs and also manufacture the Electron rocket.
Ransomware attacks are increasing in frequency, and companies need to safeguard industrial control systems and operational technology both to protect themselves and to avoid regulatory scrutiny, experts say. Grant Geyer of Claroty recommends organizations adopt the "three lines of defense" model, run real-time security exercises and understand where to focus safeguards.
Automakers and chip suppliers need to revisit their risk-management strategies and potentially focus development on automotive needs, according to a panel discussion involving executives from Analog Devices, Aptiv, Ford and GlobalFoundries. "What it requires is strategic relationships all the way down the chain," says Aptiv President and CEO Kevin Clark.
Industrial drones, cloud-based analytics and high-resolution imagery make the technology ideal for use in smart inspections, says Kespry CEO Krishnan Hariharan. "Industries such as mining and aggregates, insurance and industrials can now experience completely touchless surveys and inspections in half the time, while keeping employees safe and keeping organizations compliant to their respective industry standards," Hariharan says.
Gender diversity encourages innovation, problem-solving, and operational and financial success, and manufacturers need to work harder to hire more women at all levels of their organizations, writes Sandvik HR leader Johan Kerstell. Sandvik has set measurable targets for hiring female managers and incorporated gender diversity and inclusion into leadership training.
Retailers are working to fill out their inventory to serve the needs of back-to-school shoppers, in some cases dealing with cargo delays and other challenges. "I'm hoping that when everything catches up, we get more stock," said Gary Rowe, manager of Stationery and Toy World in New York.
Dock David Treece describes a metric known as cost of goods sold and discusses how to calculate it. The gauge is "an important metric for companies tracking the direct costs of their business inventory," but entrepreneurs should recognize that marketing costs, overhead and other expenses aren't factored in, Treece writes.
Considering the impact shipping costs can have on the bottom line, it's important to take steps to control them, writes Gabrielle Pickard-Whitehead. Pickard-Whitehead offers several suggestions, including passing along certain expenses, comparing carriers and reducing package dimensions.