It is nothing new to hear that manufacturers are facing a lot of challenges. However, companies in the manufacturing sector are increasingly up against new pressures, in addition to the age-old ones, writes John Clemons in a new article from Forbes. In the face of extreme stress, manufacturers must either figure out new strategies or …..
Nobody likes a pointless, meandering meeting—especially when that meeting could have simply been an email. Author Barry Rosen recently penned a piece for Industry Today offering advice to manufacturers seeking to improve how their teams connect in 2021. He believes that optimizing meetings can both improve employee engagement and drive better operational outcomes. Click here …..
These days, suppliers face intense pressure to operate their supply chains with incredible speed and precision. However, they face many challenges—the pandemic being no exception. In a recent article for Industry Today, author Michael Rabinowitz explores how suppliers are turning to new technologies and analytics in order to differentiate themselves and achieve success. Click here …..
Manufacturers were already facing a number of big challenges heading into 2020. The coronavirus pandemic only served to exacerbate the issues, writes Colin Elkins in a recent article for Manufacturing Business Technology. Elkins observes that the positive outcome of these new challenges is that they have caused manufacturers to rethink and retool their design and …..
Analysts Predict Corporate Tax Rate Hike Under Biden Administration
The 2017 Tax Cuts and Jobs Act established a top corporate tax rate of 21%. Under the Biden administration, analysts expect this to change. A recent article from Construction Dive covers a number of projected tax changes, including an increased top corporate tax rate, a new tax on book income, and a bump in the .....
Focus on Cash Flow Management to Achieve Sustainability
For construction contractors, maintaining a positive cash flow can be the difference between sustainability and failure. A recent article from Construction Executive offers helpful advice for executing good cash flow management, including using payment schedules, closely managing costs and supplies, and paying attention to the cash flow cycle. Click here to learn more.
2021 Will Require a New Approach to Financial Planning
In light of the tumultuous events of 2020, historic financial data may no longer be a reliable basis for financial planning. Construction contractors need to consider developing a new approach for 2021. A recent article from For Construction Pros recommends that construction contractors first focus on establishing liquid capital and creating a strong marketing plan; .....
Pursuing Construction Firm Agility in the Post-Coronavirus Era
While the overall impact of the coronavirus pandemic on the construction industry is still unknown, there are steps that firms can take now to set themselves up for success moving forward. Construction firms that manage to grasp agility by leveraging new technologies and preparing for new risks are poised to rise in the industry ranks. .....
It’s your time to shine! What is your favorite movie and/or TV show? My favorite movie is Goodwill Hunting, and my favorite television show is The Office. What did you want to be when you were growing up? Professional Baseball Player What hobbies do you have? Watching sports, staying active (I play on a men’s …..
How Will the Biden Administration Influence the Federal Reserve?
With the nation on the precipice of a transition of administrations on Jan. 20, 2021, there will need to be many roles filled both in and out of the White House. With the potential for Janet Yellen to replace Steven Mnuchin as the next treasury secretary, there is much speculation about how the Federal Reserve …..
In order to survive – and even thrive – during these unprecedented times, small businesses have had to find new ways to make money. The UPS Store’s Small Biz Buzz survey found that 41 percent of small businesses in the United States took steps to modify their businesses in hopes of survival. Fifteen percent provided …..
There are certain year-end financial transactions that must clear by Dec. 31 to be reported on the 2020 tax return. It is important to take a good look at your financial portfolio in light of the plethora of unusual events that occurred this year. Now is a good time to determine if you have fallen …..
Economists are predicting that 58 percent of unemployed workers who were laid off as a result of COVID-19 lockdowns are likely to return to their old jobs, according to the Brookings Institution. But with the majority of laid-off workers facing an uncertain employment future, the question remains: How will workers and employers transition into a …..
Manufacturers Should Prioritize Making Key Inventory Management Improvements
For manufacturing and distribution companies, strong management of inventory systems is a must. This was made only more evident by the coronavirus pandemic, which threw a wrench in the operations of many organizations. In a recent article for the Boston Business Journal, author Dennis Finnegan and Justin Provencher offer valuable advice for shoring up inventory …..
The failure of manufacturers to digitize and modernize has a big impact on many areas of their operations. In a recent article for Forbes, author Russ Banham discusses how lack of a digitized infrastructure has detrimental effects both internally and externally. “Without a modern IT infrastructure, industrial manufacturers struggle to deploy advanced technologies like predictive …..
While there has been a lot of buzz surrounding digital transformation in the manufacturing sector over the last few years, most manufacturers are still lagging behind in making the transition. This lack of transformation was made particularly evident by the onset of the coronavirus pandemic, explains author Vatsal Shah in a recent article for Forbes. …..
“Unpredictable” is the perfect word to describe what 2020 has been for supply chain and logistics professionals. The coronavirus pandemic has been a huge curveball and continues to cause uncertainty as we approach the 2020 holiday seasons. In a recent article for Industry Today, author Blake Pinard offers advice for supply chain leaders looking to …..
New Year, New Operational Strategies for Manufacturers
As we approach the close of 2020, there is a lot to reflect upon and take into account for the coming year. To help us do this, in a recent article for Industry Week, John Drosos examined the interviews of more than 60 executives and 100 leading manufacturers regarding industry trends. Specifically, the interviewees identified …..
Trump’s Payroll Tax Holiday Adds to the Burden of Employers
An August 8th executive order from President Trump created a payroll tax holiday for the last third of 2020. The program is controversial because unless Congress passes legislation that turns the tax holiday into a tax cut, the deferred taxes will need to be paid back over the first four months of 2021. This would …..
Strategies for Increasing Your Construction Company’s Profits
Are you looking to increase profits and improve the financial status of your construction company? In a recent article from Construction Executive, author Mark Soto offers six helpful tips for doing so. Avoid the need to perform rework by paying extra attention in the planning and communication stages of each job. Rather than rushing to …..