Nucor plans to spend $2.7 billion on a new mill for wide steel sheets, as well as $100 million to add a melt shop to an existing steel bar mill. The projects are among several announced by electric arc furnace steelmakers even as some integrated steel mills have paused production.
Amazon Business should book $27.59 billion in US product sales this year, up 43.5% from 2020, according to an eMarketer forecast. This would continue years of high growth but only account for 1.7% of all online B2B sales in the US.
The most successful distribution sales teams are gleaning better insights from data and using modern tools, such as predictive analytics, to pursue sales opportunities more efficiently, writes Brian Hirt, director of product management at Zilliant. These teams also use insights from artificial intelligence to give all customers top treatment and rely on software and other mechanisms to "hyper-focus" on high-value prospects, Hirt writes.
Manufacturers can ride out disruptions by balancing agility and efficiency, a process that requires organizations to optimize resources, identify opportunities for collaboration and encourage employee initiative, writes Gaurav Gupta of Kotter and Ka Partners. "Not all efficiency gains sacrifice flexibility, and in fact, most businesses have room to improve both," Gupta writes.
Technological advances could increase manufacturing GDP by 73% by 2025, but small and medium-sized manufacturers will need to collaborate with emerging technology players, find alternative funding and learn more about Industry 4.0 benefits, write Manufacturing Advocacy and Growth Network CEO Ethan Karp and Team NEO CEO Bill Koehler. "Show on a small scale what Industry 4.0 can do for your business and then expand from there," says Stephanie Onderko of GOJO Industries.
Manufacturers with more unfilled jobs than workers available are increasingly turning to organizations like Skillpoint Alliance, a nonprofit whose certified parts technician program is open to 100 students. "We're out there educating the community through various entities to try to get the word out about what the class is and what the needs are in the manufacturing industry," says Executive Director Kevin Brackmeyer.
Procurement leaders can play a major role in the push for sustainability, as suppliers are behind two-thirds of a typical company's environmental, social and governance footprint, according to McKinsey. However, a survey found that many chief procurement officers say they lack the necessary data, tools and skills to advance ESG goals.
McDowell High School in Pennsylvania is in its first year of operating an on-campus manufacturing facility that functions as an in-school internship program. Students operate all aspects of the company, including working with clients and accounting.
Under a new law signed by California Gov. Gavin Newsom this week, companies that operate warehouses in the state must disclose production quotas to workers and cannot enforce rates that limit workers' ability to take necessary breaks. Newsom said he signed AB 701 -- which appears to target Amazon -- to ensure warehouse workers have "the dignity, respect and safety they deserve."
E-procurement systems can simplify, standardize and streamline the procurement process to help governments and organizations take environmental and social impact into consideration, according to a University of Arizona study. Researchers found that local governments with centralized structures are more likely to implement e-procurement systems than ones with coordinated structures.
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