This week’s labor market reports were almost as bleak as the weather. If anyone was not aware or simply doubted that we have a big problem with a deteriorating productivity picture, then the report for the first quarter of 2016
Global Economy, Competitiveness, Economic Environment, Labor, Money & Finance, GDP
When discussing employment data, it is imperative to remember that manufacturing is more productive than other sectors. In my report, I note that it takes about 5.8 full-time equivalent manufacturing jobs to achieve $1 million in value-added, versus 7.7 for both transportation and services and 16.9 for retail trade.
Growth & Innovation, Research & Development, Research, Innovation, New Product Development, Operations, Manufacturing, Production
Virtual reality has many applications beyond video games, particularly for manufacturing. Companies are leveraging this technology for product development, prototypes, training, and factory floor layout. Ford and BAE Systems already have reputations for using virtual reality to shorten product design cycles and save costs.
The manufacturing sector’s superior productivity growth is persistent over time, creating a large productivity gap between manufacturing and other sectors of the economy. The sector isefficientin delivering value-added—it takes about 5.8 full-time equivalent (FTE) manufacturing jobs to achieve $1 million in value-added, compared with 7.7 FTE jobs for both transportation and services and 16.9 for retail trade. Without manufacturing, our standard of living would stagnate.
Corporate Affairs, Corporate Social Responsibility, Sustainability, Sustainable Business Practices, Leadership, Functional Management, Performance Measurement, Risk & Compliance, Environmental Management, Environmental Resource Management, Energy Management
In a recent MAPI webinar, Bruce Lung from DOE and Thomas Wenning from Oak Ridge National Laboratory walked attendees through the DOE’s Better Plants Program and benefits for joining, lessons learned from partne