Last updateTue, 27 Oct 2020 7pm

Manufacturers to Put More Emphasis on Costs

U.S. industrial companies, which for years have touted their dedication to lean manufacturing operations, are increasing efforts to further cut production costs to offset soaring prices for raw materials like oil, chemicals and steel.

As companies struggle to maintain profit margins in an atmosphere where almost everything they use -- from oil to steel to plastics -- is more expensive, there is greater emphasis on thinking creatively and making more cuts.

Source: Reuters

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China’s New Formula: Manufacturers Begin to Move Beyond Low Cost

At a sprawling plant in Nanjing, engineers working for BASF are finalising ambitious plans. The site – a joint venture between the German chemicals manufacturer and Sinopec, the Chinese energy group – is set to receive $900m in investment, a scheme intended to boost output by 25% over the next three years

Source: Financial Times

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Industry Uses Simulation for Gained Efficiency, Increased Production to Meet Regulation, Oversight, Economic Conditions

Soaring energy prices, global competition, and shortages of skilled labor is resulting in greater pressure on process plants.

MYNAH Technologies is working closely with partners like Emerson Process Management, Schneider Electric, and others to solve these problems by making third-generation simulation a part of every plant automation project.

Source: MYNAH Technologies

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Op-Ed: U.S. Still a Manufacturing Super Power

Bloggers from the left and the right are attacking both of the likely presidential candidates, Sens. John McCain (R-AZ) and Barack Obama (D-IL), for their complacency in the face of American "deindustrialization."

The anger is fueled, in part, by the absurd expansion of "Wall Street" over the past decade – the investment banks and hedge funds that have pulled down mega-profits by pumping up the credit bubble, now gooily imploding all around us.

Source: Charles R. Morris

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U.S. Economy: Manufacturing Weak as Expansion Falters

The slump in U.S. manufacturing deepened while the economy skirted recession, reports showed.

Industrial production declined 0.7 percent in April, the Federal Reserve said in Washington, more than twice the drop forecast by economists.

Source: Bloomberg

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