{"id":4231,"date":"2019-11-21T11:44:14","date_gmt":"2019-11-21T11:44:14","guid":{"rendered":"https:\/\/www.mrpeasy.com\/blog\/?p=4231"},"modified":"2024-02-06T13:49:56","modified_gmt":"2024-02-06T13:49:56","slug":"week-47-in-manufacturing-news","status":"publish","type":"post","link":"https:\/\/www.mrpeasy.com\/blog\/week-47-in-manufacturing-news\/","title":{"rendered":"Week 47 in Manufacturing News"},"content":{"rendered":"\n<p>U.S. retail sales rise modestly, factory output tumbles; The 10 Most Valuable Metrics In Smart Manufacturing; U.K. Manufacturing Remains Weak as Brexit Drama Drags On; How to Calculate an Ideal Manufacturing Cycle Time.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">U.S. retail sales rise modestly; factory output tumbles<\/h2>\n\n\n\n<p>U.S. retail sales rebounded moderately in October although consumers did cut back on purchases of big-ticket household items like furniture and discretionary spending.<\/p>\n\n\n\n<p>News that production at factories tumbled again in October, revived concerns about a downshift in the economy.  Auto manufacturers reported a drop in unit sales in October. Compared to October last year, retail sales advanced 3.1%. <\/p>\n\n\n\n<p>Source: <a rel=\"noreferrer noopener nofollow\" aria-label=\"Reuters (opens in a new tab)\" href=\"https:\/\/www.reuters.com\/article\/us-usa-economy\/u-s-retail-sales-rebound-manufacturing-output-tumbles-idUSKBN1XP1KG\" target=\"_blank\">Reuters<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The 10 Most Valuable Metrics In Smart Manufacturing<\/h2>\n\n\n\n<p> The following are the 10 most valuable metrics to manufacturers as they plan, pilot, and launch smart factories: <\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Carrying Cost Of Inventory<\/li>\n\n\n\n<li>Customer Satisfaction Levels<\/li>\n\n\n\n<li>Demand Forecast Accuracy<\/li>\n\n\n\n<li>Fill Rate Effectiveness As a Percent Of All Orders<\/li>\n\n\n\n<li>Gross Contribution Margins by Product, Production Facility, and Business Unit&nbsp;<\/li>\n\n\n\n<li>Inventory Turnover<\/li>\n\n\n\n<li>Order Cycle Time<\/li>\n\n\n\n<li>Order Pick, Pack, and Ship Accuracy<\/li>\n\n\n\n<li>Perfect Order Performance<\/li>\n\n\n\n<li> Supplier Quality Index <\/li>\n<\/ol>\n\n\n\n<p>Source: <a rel=\"noreferrer noopener nofollow\" aria-label=\"Forbes (opens in a new tab)\" href=\"https:\/\/www.forbes.com\/sites\/louiscolumbus\/2019\/11\/20\/the-10-most-valuable-metrics-in-smart-manufacturing\/\" target=\"_blank\">Forbes<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">U.K. Manufacturing Remains Weak as Brexit Drama Drags On<\/h2>\n\n\n\n<p>British manufacturing improved slightly in November, according to the Confederation of British Industry, though the sector remains subdued amid ongoing political uncertainty at home and slowing global growth. <\/p>\n\n\n\n<p>The business lobby\u2019s monthly survey showed a slightly more upbeat picture than in October, when factories were preparing for Britain\u2019s expected departure from the European Union on Oct. 31, which ultimately failed to materialize.<\/p>\n\n\n\n<p>Source: <a rel=\"noreferrer noopener nofollow\" aria-label=\"Bloomberg (opens in a new tab)\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-11-19\/u-k-manufacturing-remains-weak-as-brexit-drama-drags-on\" target=\"_blank\">Bloomberg<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How to Calculate an Ideal Manufacturing Cycle Time<\/h2>\n\n\n\n<p>How to determine the ideal cycle time out of 150 samples?<\/p>\n\n\n\n<p><strong>1. &#8220;Is there any process\/tool that can help me\u201d<\/strong>&nbsp;Yes! It\u2019s the value stream map (VSM). <\/p>\n\n\n\n<p><strong>2. Be data driven and use the Pareto principle<\/strong>&nbsp;(80-20 rule) to identify and focus on the best opportunities first to improve the business.\n\n<\/p>\n\n\n\n<p><strong>3. Train up your team<\/strong>, for example, on the Theory of Constraints, VSM, and your operators to understand and participate in doing the VSM work. <\/p>\n\n\n\n<p><strong>4. Make new crewing models.<\/strong>  In a value stream, the constraint should run all the time except for necessary changeovers and preventive maintenance.<\/p>\n\n\n\n<p> Source: <a href=\"https:\/\/www.industryweek.com\/operations\/how-calculate-ideal-manufacturing-cycle-time\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\"IndustryWeek (opens in a new tab)\">IndustryWeek<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. retail sales rise modestly, factory output tumbles; The 10 Most Valuable Metrics In Smart Manufacturing; U.K. Manufacturing Remains Weak as Brexit Drama Drags On; How to Calculate an Ideal Manufacturing Cycle Time.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[56],"tags":[],"class_list":["post-4231","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Week 47 in Manufacturing News - Blog for Manufacturers and Distributors<\/title>\n<meta name=\"description\" content=\"Manufacturing news week 47. 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Manufacturing news and articles - economy, artificial intelligence, additive manufacturing, IoT, manufacturing software.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.mrpeasy.com\/blog\/week-47-in-manufacturing-news\/\" \/>\n<meta property=\"og:site_name\" content=\"Blog for Manufacturers and Distributors\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-21T11:44:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-06T13:49:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2023\/08\/software-for-manufacturers-English.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Karl Heinrich Lauri\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Karl Heinrich Lauri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/week-47-in-manufacturing-news\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/week-47-in-manufacturing-news\/\"},\"author\":{\"name\":\"Karl Heinrich Lauri\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/9f3fc21487b8bd06ee559963df65c254\"},\"headline\":\"Week 47 in Manufacturing News\",\"datePublished\":\"2019-11-21T11:44:14+00:00\",\"dateModified\":\"2024-02-06T13:49:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/week-47-in-manufacturing-news\/\"},\"wordCount\":364,\"commentCount\":0,\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.mrpeasy.com\/blog\/week-47-in-manufacturing-news\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/week-47-in-manufacturing-news\/\",\"url\":\"https:\/\/www.mrpeasy.com\/blog\/week-47-in-manufacturing-news\/\",\"name\":\"Week 47 in Manufacturing News - Blog for Manufacturers and Distributors\",\"isPartOf\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/#website\"},\"datePublished\":\"2019-11-21T11:44:14+00:00\",\"dateModified\":\"2024-02-06T13:49:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/9f3fc21487b8bd06ee559963df65c254\"},\"description\":\"Manufacturing news week 47. 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