On June 14, 2018, MAPI will hold its inaugural Operations Data Analytics Forum in Rosemont, IL. Akshat Thirani, co-founder and CEO of Amper Technologies, a technology company on a mission to build modern and practical tools for manufacturers to get complete visibility and analysis on their operations, will co-present on the business outcomes of using data analytics and IoT in manufacturing operations.

Akshat took the time to answer a couple of questions to lay the foundation for his presentation and give us a little more insight into his background.

In an increasingly digital world, surrounded by connected devices, manufacturers are recognizing the necessity and benefits of moving from a linear supply chain model to a flexible, digital supply network (DSN). DSNs integrate data and information from the various sources that contribute to the production and distribution of manufactured goods. This data is available instantaneously, allowing manufacturers to make quick decisions and adapt to changing market needs. Additionally, DSNs reduce product costs, increase profitability, and improve quality. With wide-ranging benefits, one would expect that a majority of manufacturers have implemented DSNs. However, according to a survey conducted by MAPI and Deloitte, only 28% of respondents have started implementing DSN solutions.

The 2016 Panama Canal expansion added a third set of locks while doubling its shipping capacity. With the physical enlargement came a new transit booking system and a slot auction. Both addressed bottlenecks by shortening wait times at peak seasons. In its first fiscal year of operation, the number of ships rose 3.3% while total tonnage increased 22%. This singlehandedly stemmed from the new maximum size of Panama vessels that can transit. As expected, the expansion resulted in some diversion of traffic, higher demand for passage, and new investment in ports – primarily on the East Coast – to accommodate larger ships. The greatest potential impact for manufacturing companies will be on trucking capacity. 

In October, MAPI held its most attended webinar of the year: Transfer Pricing & Customs Valuation. In today’s cross-border business environment, transfer pricing and U.S. Customs valuation are integral, and companies must have a clear understanding of the unique requirements of each to the business.

While traditional measurement methods suggest that manufacturing is responsible for only 11% of U.S. GDP, my recent research reveals this is not the case.

In an economic environment where industrials are feeling the pinch, operational efficiency and effectiveness are as crucial as ever to achieve. And when it comes to integrating acquisitions, success is mixed.

Trade compliance professionals are used to constant change—new regulations, ever-larger potential fines, and widening ranges of sanctions. Keeping up with developments seems impossible for one person . . . how well do you know what’s going on in the world of trade?
 

Americans are surrounded by manufactured goods at home and work— so how can the manufacturing sector represent only 11% of GDP? The explanation is that it doesn’t. MAPI Foundation research examining the full value chain reveals that manufacturing accounts for 32% of GDP. We also find that the manufacturing multiplier is almost three times as high as official data suggest.