Category: Production economics

Realities of Today’s Manufacturing Production Economics

Machine shops seek to produce a certain number of parts of a certain quality, in a certain amount of time, at a certain cost. Consistently achieving those goals involves controlling a myriad of factors including cutting parameters, tool cost and changeover times, machine tool utilization, workpiece handling expense and material and labor costs….
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The Practical Approach to Control Waste in Manufacturing

Manufacturers continually seek ways to maximize productivity and efficiency. Today, those efforts frequently involve high-level programs that employ buzzwords that include cloud computing, data-driven manufacturing, cyber-physical systems and Industry4.0. These advanced initiatives are excellent concepts and can produce impressive results. However, manufacturing realities often interfere with the implementation of such ambitious plans, and…
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