Items Tagged with 'profits'

With the manufacturing industry growing more complex every day, it’s hard to imagine operating a manufacturing enterprise without an ERP system. The software provides a critical central communication point for the business, handling all activities from quote to cash and everything in between. 

The importance of auditing should not be overlooked. As longtime Quality columnist Jim Smith writes, “It’s rare that managers, or even most quality auditors, discuss how closely tied the findings of manufacturing audits are to the long-term ability of their companies to compete in this highly competitive market.”

In business it’s easy to become complacent. Manufacturers can fall prey to continually repeating the same mistakes, disrupting production and damaging profitability.

You diligently worked up the proposal. You were conservative in estimating material and labor, and you won the job. What could possibly go wrong? Twenty weeks later, a profit and loss report, dripping in red ink, lands on your desk, and your boss wants to see you in his office. Where did the profits go?