Week 8 in Manufacturing News

1. WEEK 8 IN MANUFACTURING NEWS

2. US: NY Empire State Manufacturing Index jumps to 12.9 in February; US January industrial output falls; Pressure Points: How can the government support UK manufacturing?; Meet The Manufacturer Top 100 2019 Exemplars.

3. Production planning is defined as the process whereby a company makes sure that supplies and raw materials are in place at the appropriate time and in the correct quantity. Too much and cash is tied up in inventory carrying costs. Too little and production slows to a crawl or stops. The same is true of the labor required to produce the goods. Inaccurate labor planning means that not enough workers are present to efficiently complete the volume of the complexity of the product or that too many workers are present for optimum production thus wasting money.

4. Production planning can also impact areas outside of production. Sales and distribution are also affected as they must rely on the plan to balance incoming sales and outgoing orders. Human resources too must understand the production plan for each cycle to provide the right volume and skill level of hiring as well as training for current staff.

5. US: NY Empire State Manufacturing Index jumps to 12.9 in February The General Business Conditions Index of the Federal Reserve Bank of New York’s Empire State Manufacturing Survey improved to 12.9 in February from 4.8 in January and beat the market expectation of 5. Manufacturing activity in NY area expands in February. US Dollar Index extends rally on upbeat data. • • Source: FXStreet.

6. US January industrial output falls U.S. industrial production fell 0.3% in January, the Federal Reserve said. Unseasonably warm weather held down the output of utilities and Boeing slowed production of civilian aircraft. The Fed said manufacturing production fell 0.1% in January, matching forecasts, but December’s manufacturing output was revised lower to a 0.1% gain from a previously reported 0.2% increase Source: CNCB. • • •

7. Pressure Points: How can the government support UK manufacturing? Invest in automation – One of the biggest challenges that manufacturing faces is to generate awareness around the benefits that robots and automation can bring. Increase productivity – Overall Purchasing Managers’ Index reading continue its ongoing slide into contraction, factory outputs fell to 45.6. The most recent IHS Markit Manufacturing PMI figures. Smooth the path for international trade after Brexit

8. Pressure Points: How can the government support UK manufacturing? Vision for education – collaboration between universities and industry. Give a helping hand to small businesses Boosting performance – The government is supporting UK automotive and aerospace supply-chain manufacturers, having announced a £26m support programme called NMCL. Source: Institution of Mechanical Engineers.

9. Meet The Manufacturer Top 100 2019 Exemplars 1-7 The Manufacturer Top 100 is a project that showcases the most dynamic leaders, young pioneers and unsung heroes working in UK manufacturing, all of which have been nominated by their peers. More information: The Manufacturer.

11. https://manufacturing-software-blog.mrpeasy.com/week-8-in- manufacturing-news-2/ https://www.mrpeasy.com/