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When you lose an upper-level employee, everything from production timelines to your company stock price can be affected. In fact, research has shown that replacing a well-educated CEO can cost up to 213% of their annual salary, partly because of training new employees, paying overtime and lost productivity. However, hiring an interim manager can help you to negate these expenses …
After your manufacturing facility has recognized the needs for an interim manager – whether because you’re facing some sort of business crisis or you need to take ample time to find the perfect replacement to fill a key leadership role – the first step is obviously obtaining the right person for the interim job. How to Attract the Perfect Interim …
If your manufacturing facility is looking to maximize customer value and remain as competitive as possible in the industry, active supply chain management is a must. Effective supply chain management keeps supply chains running as efficiently as possible. Product development, sourcing, production and logistics, not to mention the information systems needed to coordination these processes, are all part of active …
The chief executive officer (CEO) is the highest ranking executive in a corporation or organization. While the responsibilities of the job vary depending on the mission and goals of each particular manufacturing company, in general, a CEO handles all the major corporate decisions, from creation, planning, implementation and integration of all strategies. Typically, the CEO must report to the Board …
There’s no doubt that the manufacturing industry is competitive. In fact, Fortune magazine predicted that by the year 2020 the United States will surpass China as the number one country for manufacturing, making our country the most competitive manufacturing economy in the world. Today, success in the manufacturing industry lies in utilizing advanced technologies, the availability of proper materials and …
When it comes to the manufacturing industry, not all companies are created equal. More often than not, the profitability of a facility lies within the leadership team, and generating large profits in a manufacturing venture depends on the traits of the team and key employees. When choosing a manufacturing management consultant to help with operational improvement and increase profitability, it’s …
What is an Interim Manager? An interim manager is a highly-experienced, strategic executive who can provide the skills and expertise your business needs to solve an issue at hand. This issue could be an impending crisis of some sort, such as the resignation of a member of your c-suite, or it could be that you need objective, outside assistance with …
Success in business is often a matter of expertise. As a manufacturing facility, you’ll often find it becomes difficult to keep up with the constant changing trends in the industry, including technical developments. Plus, another common challenge is finding ways to stay competitive in your market. When your company is properly streamlined, you’ll become that much more efficient and successful. …
If you aren’t familiar with the term “interim management,” you probably aren’t aware of all the benefits it can provide to your manufacturing company during transitional times or in crisis situations. Interim management refers to the temporary provision of management resources and skillsets to help handle changes within organizations. In recent years, it’s become a valuable means for troubleshooting management …
The decision to buy capital equipment is often made to increase capacity because the company has the ability to sell more of what is made on that equipment. There are other considerations such as a new technology is sufficiently faster than the incumbent technology and the improvements from the new technology have other advantages that provide benefit to the organization …