The 2022 Manufacturing KPI Checklist Should Include These Five Indicators

Bhagyashri Kambale | December 23, 2021 | 1042 views
THE 2022 MANUFACTURING KPI CHECKLIST SHOULD INCLUDE THESE FIVE INDICATORS
Every manufacturing company aims to be as efficient as possible to maximize profit. However, it's difficult to determine where you stand and what targets to establish unless you can precisely measure your efficiency. Manufacturing KPIs play an important role in this process.

Keeping track of many indicators without considering their commercial worth is a waste of time.

“Not everything that can be counted counts and not everything that counts can be counted”

- Albert Einstein

But connecting goals to measurements is a certain way to track progress and improve processes. So let's get started with how to choose the most appropriate key performance indicators (KPIs) for your business.


Manufacturing KPI 2022: How to Choose the Right One?

Why are KPIs called “Key” Performance Indicators? While any statistic can be used to assess performance, KPIs are the most critical. Hence they are called key performance indicators.  Companies' priorities while selecting their company KPIs may differ substantially depending on the industry in which they operate.

“Strategic-operational KPIs alignment gives the organization a powerful tool to use when implementing change.”

― Pearl Zhu

A corporation should not track more than ten manufacturing KPIs to avoid overblowing processes. So, manufacturing efficiency, customer satisfaction, lead times, etc., should all be included.

Depending on your business nature, you must select your KPIs. However, each of those indicators must meet a set of criteria before being considered meaningful.

So, what is a decent KPI for manufacturing?
  • It gives objective and clear data on progress toward a certain goal
  • It measures efficiency, quality, punctuality, and performance
  • It allows for tracking performance over time
  • It helps in decision making
  • It should be the one that matches the company's long-term objectives
  • It has to be measurable and quantifiable
  • It must be realistic and actionable

Following that, let's have a look at the most important manufacturing KPIs for 2022, which will assist you in better understanding your manufacturing business and formulating a growth strategy in line with that understanding.


Most Critical Manufacturing KPIs in Order of Priority

Despite the fact that manufacturers should also monitor general key performance indicators (KPIs) such as sales revenue, net profit margin, and so on, the manufacturing business demands the tracking of specific manufacturing metrics. Below are some of the most important manufacturing key performance indicators (KPIs).


Work-in-process

Using this manufacturing KPI metric, you can see how much value there is in products still in progress. It assists manufacturing organizations in determining how much of their working capital is locked up in incomplete products and can aid in identifying supply chain management difficulties.
You can compute the Work-In-Progress (WIP) by using the formula provided below.


Return on Assets 

This manufacturing KPI seems to be more about financing than manufacturing. Yes, it does. However, financial measurements are just as vital as production ones. A firm cannot exist unless it generates revenue, and this indicator measures how efficiently your company uses its assets and generates revenues.
The Return on Assets (ROA) of your company can be calculated using the formula below.

Cost Per Unit

It is critical to understand the overall manufacturing cost per unit. You can't appropriately price a product without it. This manufacturing KPI divides total manufacturing costs by the number of units produced. Materials, overhead, depreciation, and labor are standard costs.

Demand Forecasting

Companies utilize this manufacturing statistic to forecast future raw material needs to satisfy client demand. Unfortunately, this statistic is more challenging to employ because it is mainly dependent on unpredictable external circumstances. The basic formula is:

Where:
  • The seasonal factors are distinct
  • Average demand is calculated as:


Lead Time

A company's lead time, also known as order cycle time, is an important KPI. It shows how swiftly your organization processes orders and meets client requests. It is time it takes to complete an order from confirmation to delivery.

Long lead times can imply process inefficiencies that produce bottlenecks and excessive expenses. Conversely, short lead times are important since they allow you to respond to consumer needs swiftly and efficiently.

The total lead time can be divided into smaller segments as follows:
  • The time it takes to manufacture a product from start to finish
  • The time it takes to deliver a product from stock to a client
  • The time it takes suppliers to deliver products to manufacturers
By segmenting the lead time, you may more precisely identify the areas where inefficiencies in the process occur.


Toyota’s Four Key Performance Metrics 

As a company, Toyota places a high focus on environmental protection. Toyota's vehicles are designed to use less fuel and produce less waste.

Regardless of the company's size, Toyota is committed to protecting the environment. Toyota's 'Earth Charter' was created in 1992 as part of the company's Global Policy initiative. It was Toyota's first overseas facility and the UK's first ISO14001-certified car manufacturer. Waterborne paints were utilized for the first time and zero waste was sent to landfills. In 2009, Toyota Manufacturing UK did not use any incinerators.

Toyota has developed a set of key performance indicators (KPIs) for each of its major production areas. There are four key performance metrics: energy, water, waste, and volatile organic compounds (VOCs). 

Since its start in 1992, Toyota Manufacturing UK has attempted to mitigate its environmental impact. The figure below illustrates the environmental KPIs for the Burnaston plant. Each year, Toyota sets new goals to improve its results.
  • 79% reduction in vehicle energy consumption
  • 62%  reduction in waste per car
  • 76% reduction in VOC emissions per car
  • 79% reduction in water consumption per vehicle


Final Words

You can use the aforementioned manufacturing KPIs to construct your manufacturing KPI template, but keep in mind that the manufacturing metrics you need to track may differ from those listed here. The first prudent move any business can make while examining its operation is to identify and track the relevant KPIs. Also, in manufacturing, there are several different KPIs, phrases, and abbreviations need to be understood and used where it makes the most sense.


FAQ


What is manufacturing KPI?

A manufacturing Key Performance Indicator (KPI) or metric is a well-defined and measurable indicator that the manufacturing sector uses to evaluate its performance over time and compare it to that of other industries.


What are the key KPIs for manufacturers?

On-Time Delivery, Production Schedule Attainment, Total Cycle Time, Throughput, Capacity Utilization, and Changeover Time are some of the key manufacturing KPIs.

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The 2022 Manufacturing KPI Checklist Should Include These Five Indicators

Article | December 23, 2021

Every manufacturing company aims to be as efficient as possible to maximize profit. However, it's difficult to determine where you stand and what targets to establish unless you can precisely measure your efficiency. Manufacturing KPIsplay an important role in this process. Keeping track of many indicators without considering their commercial worth is a waste of time. “Not everything that can be counted counts and not everything that counts can be counted” - Albert Einstein But connecting goals to measurements is a certain way to track progress and improve processes. So let's get started with how to choose the most appropriate key performance indicators(KPIs) for your business. Manufacturing KPI 2022: How to Choose the Right One? Why are KPIs called “Key” Performance Indicators? While any statistic can be used to assess performance, KPIs are the most critical. Hence they are called key performance indicators. Companies' priorities while selecting their company KPIs may differ substantially depending on the industry in which they operate. “Strategic-operational KPIs alignment gives the organization a powerful tool to use when implementing change.” ― Pearl Zhu A corporation should not track more than ten manufacturing KPIs to avoid overblowing processes. So, manufacturing efficiency, customer satisfaction, lead times, etc., should all be included. Depending on your business nature, you must select your KPIs. However, each of those indicators must meet a set of criteria before being considered meaningful. So, what is a decent KPI for manufacturing? It gives objective and clear data on progress toward a certain goal It measures efficiency, quality, punctuality, and performance It allows for tracking performance over time It helps in decision making It should be the one that matches the company's long-term objectives It has to be measurable and quantifiable It must be realistic and actionable Following that, let's have a look at the most important manufacturing KPIs for 2022, which will assist you in better understanding your manufacturing business and formulating a growth strategy in line with that understanding. Most Critical Manufacturing KPIs in Order of Priority Despite the fact that manufacturers should also monitor general key performance indicators (KPIs) such as sales revenue, net profit margin, and so on, the manufacturing business demands the tracking of specific manufacturing metrics. Below are some of the most important manufacturing key performance indicators (KPIs). Work-in-process Using this manufacturing KPI metric, you can see how much value there is in products still in progress. It assists manufacturing organizations in determining how much of their working capital is locked up in incomplete products and can aid in identifying supply chain managementdifficulties. You can compute the Work-In-Progress (WIP) by using the formula provided below. Return on Assets This manufacturing KPIseems to be more about financing than manufacturing. Yes, it does. However, financial measurements are just as vital as production ones. A firm cannot exist unless it generates revenue, and this indicator measures how efficiently your company uses its assets and generates revenues. The Return on Assets (ROA) of your company can be calculated using the formula below. Cost Per Unit It is critical to understand the overall manufacturing cost per unit. You can't appropriately price a product without it. This manufacturing KPIdivides total manufacturing costs by the number of units produced. Materials, overhead, depreciation, and labor are standard costs. Demand Forecasting Companies utilize this manufacturing statisticto forecast future raw material needs to satisfy client demand. Unfortunately, this statistic is more challenging to employ because it is mainly dependent on unpredictable external circumstances. The basic formula is: Where: The seasonal factors are distinct Average demand is calculated as: Lead Time A company's lead time, also known as order cycle time, is an important KPI. It shows how swiftly your organization processes orders and meets client requests. It is time it takes to complete an order from confirmation to delivery. Long lead times can imply process inefficiencies that produce bottlenecks and excessive expenses. Conversely, short lead times are important since they allow you to respond to consumer needs swiftly and efficiently. The total lead time can be divided into smaller segments as follows: The time it takes to manufacture a product from start to finish The time it takes to deliver a product from stockto a client The time it takes suppliers to deliver products to manufacturers By segmenting the lead time, you may more precisely identify the areas where inefficiencies in the process occur. Toyota’s Four Key Performance Metrics As a company, Toyota places a high focus on environmental protection. Toyota's vehicles are designed to use less fuel and produce less waste. Regardless of the company's size, Toyota is committed to protecting the environment. Toyota's 'Earth Charter' was created in 1992 as part of the company's Global Policy initiative. It was Toyota's first overseas facility and the UK's first ISO14001-certified car manufacturer. Waterborne paints were utilized for the first time and zero waste was sent to landfills. In 2009, Toyota Manufacturing UK did not use any incinerators. Toyota has developed a set of key performance indicators (KPIs) for each of its major production areas. There are four key performance metrics: energy, water, waste, and volatile organic compounds (VOCs). Since its start in 1992, Toyota Manufacturing UK has attempted to mitigate its environmental impact. The figure below illustrates the environmental KPIsfor the Burnaston plant. Each year, Toyota sets new goals to improve its results. 79% reduction in vehicle energy consumption 62% reduction in waste per car 76% reduction in VOC emissions per car 79% reduction in water consumption per vehicle Final Words You can use the aforementioned manufacturing KPIsto construct your manufacturing KPI template, but keep in mind that the manufacturing metricsyou need to track may differ from those listed here. The first prudent move any business can make while examining its operation is to identify and track the relevant KPIs. Also, in manufacturing, there are several different KPIs, phrases, and abbreviations need to be understood and used where it makes the most sense. FAQ What is manufacturing KPI? A manufacturing Key Performance Indicator (KPI) or metric is a well-defined and measurable indicator that the manufacturing sector uses to evaluate its performance over time and compare it to that of other industries. What are the key KPIs for manufacturers? On-Time Delivery, Production Schedule Attainment, Total Cycle Time, Throughput, Capacity Utilization, and Changeover Time are some of the key manufacturing KPIs.

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Article | February 10, 2022

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Digital Manufacturing Marketing Plan - Five Checklists

Article | September 22, 2021

Marketing for manufacturing companies hasn't always been easy. Because of the rising volatility in the economy, trade shows and face-to-face sales meetings have changed their manufacturing purchasing patterns. On the other hand, buyers are seeking for more convincing market reasons to buy your product. This means your manufacturing marketing strategy needs to evolve to answer each of these questions from the buyer angle in order to convince them in choosing your products over other competitor products. Manufacturers must do more than simply focus on product awareness to attract new buyers. Instead, they must concentrate on the content and intent of promotional activities that will reach target buyers through manufacturing advertising. The promotional message has always been the critical factor to be delivered at the right time and place. To hit the rock at the right spot, you must first understand the buyer's expectations in the manufacturing industry. So, let's get started. Buyers' Expectations from the Manufacturer Faster production cycles, higher-quality components and products, and affordable pricing are all expectations among manufacturing buyers. Therefore, marketing professionals in the manufacturing domain must consider these factors while developing a digital marketing strategy to outwit other competitors in the industry. What Is the Importance of Digital Marketing for Industrial Products? Going digital is the necessity of time. For example, almost 94 percent of B2B buyers conduct online research before making a purchase. Similarly, after using the correct digital marketing techniques for their industrial products, 82 percent of manufacturing enterprises increased their yearly sales within a year. This one-on-one discussion with one of the manufacturing industry's top leaders will give you a better understanding of manufacturing marketing's relevance. 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Recognize the Buyer's Persona In the context of the increasing instability of the industrial ecosystem, manufacturers must better understand their target groups to develop product marketing strategies tailored to their needs. The potential buyer's digital activities also help understand the target buyer's persona through their digital activities on various digital platforms. For example, some customers prefer textual content to learn about a product, while others prefer to watch a video that explains everything in detail. So, as per the target buyer's demand, manufacturers can modify their product marketing content. It will also help you create an effective digital marketing strategy for your manufacturing company. Interact Effectively with Important Constituents To be visible in the eyes of your buyer, you must communicate with them frequently and effectively. In every industry, technology has altered the meaning of buyer communication. So, here are some of the most popular ways that all industry leaders are using to exchange information with their potential buyers. This strategy will also help you establish a positive rapport with potential buyers and stay in touch with them. Start a Newsletter: Prepare some research and conversion phase content, solution-oriented blogs, interviews, or success stories, as applicable for your company's profile. In this strategy, you must always be consistent and distinct. Create an Email Campaign: Use emails to build a more personal connection with your potential buyers. Create a buyer persona based on the interests of your target audience and segment them properly when crafting your emails. This practice will help your recipients feel recognized and involved. Use Social Media Networks to Your Advantage: Each of your buyer personas uses social media as a primary source of information. Use this platform to your advantage by developing specific techniques for staying top-of-mind among your target audience. Make the Website Content Appealing to Potential Buyers Manufacturing digital marketing content serves as a thread to draw your target buyers to your website. When the target buyer visits your website, the website content will play a critical role. As a result, every manufacturing company must have the concise, engaging, and appealing website content. Make sure that your website contains everything you require to connect with your target buyer persona. So, how do you know if your website's content is on track? Check out the list below for some key points that should be available on your website to make visitors feel valuable about your company. Key-informative content: This type of content should assist buyers in expanding their existing knowledge of your company, product, or services. It must include your brand’s story, services, product catalogs and brochures, FAQs, and solution-focused blogs. Trust-building content: This type of content encourages anxious buyers to trust your product or service, which may be entirely new for them. It includes previous buyer product reviews, client references, testimonials, buyer success stories, expert opinions, and business awards if any. User-friendly content: This is the most Crucial aspect of your website's content. As covered in the buyer persona section, buyers have diverse interests in consuming information. Some prefer to read text, some prefer to watch videos, and others prefer to consume information through CAD drawings, diagrams, or infographics. As a result, ensure that your website contains various forms of content so that each visitor is comfortable consuming what you are serving them about your product. SEO-optimized content: Ensure that your website contains your target buyers' keywords when searching for products. Creating SEO-friendly website content allows you to rank higher in Google searches and makes it easier for readers to find you. Use Marketing Automation Platform Because of the growing use of marketing automation tools, even the smallest manufacturers can now benefit from them. They're the easiest and most cost-effective way to gauge the success of your digital marketing efforts. So what benefits have you reaped from using the marketing automation software? Helps you keep track of your prospects' locations Assists you in obtaining the lead score, which tells you who your best leads are and where they originate Keep track of the conversions throughout the buying cycle with this tool As a result, the marketing automation technology helps you evaluate the return on your investment in numerous ways. Do a Competitor Analysis Analyzing your competitor's marketing strategies will help you develop sound business tactics for your next move. Competitor analysis aids you in understanding the market's demands and new prospects that you may have ignored previously. This strategic approach also aids in your understanding of where you stand in the market and what you need to come up with to stay ahead of competitors. Final Words Every buyer's attention isn't only focused on making a purchase. They also want a simple and pleasing purchase experience. Providing a delightful buying experience encourages customers to return to you for future purchases of the same or different products you have introduced. As a result, each of the checklists above plays a vital role in your potential customer's buying process and contributes to organic buyer growth. FAQs What is digital manufacturing? Digital manufacturing is the simultaneous creation of product and manufacturing process descriptions using an integrated computer-based system that involves simulation, 3D visualizations, analytics, and collaborative tools. How can manufacturers market their products? Promote your product by using various content types, including blogs, press releases, infographics, and videos. Consider event sponsorships as a way to reach a particular demographic with your brand's message. Distribute complimentary product samples to potential customers to secure bulk purchases. What is the most effective way to market a manufacturing firm? For your target groups, write and publish richer, solution-oriented content. To make your company more known to the general public, take virtual tours of your facility and create product videos to give people a better understanding of your product and company. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is digital manufacturing?", "acceptedAnswer": { "@type": "Answer", "text": "Digital manufacturing is the simultaneous creation of product and manufacturing process descriptions using an integrated computer-based system that involves simulation, 3D visualizations, analytics, and collaborative tools." } },{ "@type": "Question", "name": "How can manufacturers market their products?", "acceptedAnswer": { "@type": "Answer", "text": "Promote your product by using various content types, including blogs, press releases, infographics, and videos. Consider event sponsorships as a way to reach a particular demographic with your brand's message. 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Top Electronics Manufacturing Trends to Watch in 2022

Article | October 13, 2021

The electronics manufacturing business is adopting new technologies to create smart electronics manufacturing products for its consumer base. Next-generation technologies are shaping the future of the manufacturing industry by enabling it to create technologically advanced and user-friendly products. Matt Mong, one of the manufacturing industry's leading professionals, stated in an interview with Media7, “Be Different. Don’t position your product in an existing category. Instead, create your category and make the competition irrelevant and obsolete.” – Matt Mong, VP Market Innovation and Project Business Evangelist at Adeaca. The year 2022 will be a year of advancement and development for the electronics manufacturing industry. So, manufacturers are eager to embrace new technologies and produce more innovative, more user-friendly goods that become part of consumers' daily lives and meet their needs. To make the manufacturing process manageable and deliver advanced products, we will look at the top five trends flourishing in the electronics manufacturing industry. Top Five Electronics Manufacturing Industry Trends Future manufacturing technologies are transforming the electronics manufacturing industry's processes and products. Let's look at the top electronics manufacturing industry trends for 2022, which will propel the sector to new heights of technological advancement. Utilizing the Benefits of the Internet of Things The Internet of Things is being used in both the manufacturing process and the products themselves. It enables electronic manufacturing products and processes to become more intelligent and performance-driven to fulfill business and customer needs. In electronics manufacturing, the Internet of Things (IoT) enables businesses to solve common production challenges such as product quality issues, changing demands, and a complex global supply chain. As a result, it increases productivity and efficiency while reducing human effort. Industrial units may gather and analyze real-time data and processes using IoT-based sensor systems. Additionally, it assists organizations in managing data and transforms traditional manufacturing into an intelligent manufacturing unit. Using an ERP System to Maintain the Company's Competitive Edge ERP (Enterprise Resource Planning) is a centralized management system for all operational and business activities. The software automates all manufacturing processes and enables the electronics manufacturing sector to achieve higher precision throughout the manufacturing process and product delivery. ERP has the potential to boost productivity, improve efficiency, decrease expenses, and increase profitability. ERP enables electronics manufacturers to forecast, plan, modify, and respond to changing market demands. By using an ERP system in your manufacturing unit, you may expand your business and increase revenue. Making Use of Big Data The electronics manufacturing industry benefits from the use of big data to make critical business decisions. It aids in the integration of previously isolated systems to provide a comprehensive view of industrial processes. It also automates data gathering and processing, allowing for more excellent knowledge of each system individually and collectively. Big data also assists manufacturers in discovering new information and identifying trends, allowing them to optimize operations, improve supply chain efficiency, and find variables that impact manufacturing quality, volume, or consistency. In addition, big data assists the electronics manufacturing industry in keeping up with the rapidly changing digital world. Using AR and VR to Create Consumer-friendly Goods AR and VR are future manufacturing technologies that are changing electronics manufacturing products and driving growth. Robotics is a crucial usage of virtual reality in electronics production. Manufacturers may use powerful virtual reality software to design goods. This implementation of virtual reality software reduces production errors and saves time and money. AR in electronics manufacturing allows product developers to generate interactive 3D views of new products before production. AR and VR are part of Industry 4.0, the digital revolution of conventional electronics production units. Adoption of 3D Printing on a Wide Scale One of the essential advantages of today's electronics 3D printing is that companies can quickly prototype PCBs and other electrical devices in-house. In addition, 3D printing has simplified the electronics manufacturing process, and it is currently being utilized to manufacture multilayer printed circuit boards. It uses material jetting technology to spray conductive and insulating inks onto the printing surface. Let's look at an example of an analogy that worked for Jinzhenyuan - The Electronic Technology Co. Ltd., managed by Mr. Huang Runyuan, Jinzhenyuan's General Manager, and based on the concept of Industry 4.0. (Reference: Forbes) Jinzhenyuan - The Electronic Technology Co. Ltd. Takes a Significant Step Forward with Industry 4.0 Jinzhenyuan - The Electronic Technology Co. Ltd., formed in 2012, sells its products globally. In addition, it manufactures cellphones, computers, cars, and a variety of other consumer electronics. Due to changing market needs, the firm planned to upgrade its production facility to industry 4.0 by the end of 2017 to participate in smart manufacturing. The company increased production efficiency, shortened production cycles, and cut costs due to the digital revolution. Today, Jinzhenyuan is regarded as a model of digital transformation in the community in which it works. Let’s observe the statistics for Jinzhenyuan following the deployment of Industry 4.0. 32% improvement in total production efficiency 33% cost reduction 41% decrease in R&D to production cycles 51% reduction in substandard parts rate – from 3,000 to 1,500 per million Final Words The electronics manufacturing sector is on the verge of a digital revolution that will improve the production process efficiency and cost-effectiveness. Many of the world's biggest firms, like Apple, Microsoft, Hitachi, and Saline lectronics, are developing future agile factories to keep up with the world's digital transformation. Future manufacturing technology will help your manufacturing company make the manufacturing process more efficient and boost the business revenue. FAQs What are the future electronics technologies? Smart grid solutions, wearable technology devices, prefabricated goods, the Internet of Things, and robots are some of the future electronics innovations that will propel the business forward. Is the supply chain benefiting from new technology trends? Yes, supply chain management benefits from smart technology as well. Trucks equipped with cutting-edge technologies can get real-time data on the weather and road conditions ahead of time. It contributes to the supply chain process's reduction of possible risks. Which manufacturers are implementing the industry 4.0 concept in their factories? Whirlpool, Siemens, Hirotec, Tesla, Bosch, and Ocado, among others, have turned their traditional factories into digitally smart ones that incorporate all of the cutting-edge technology necessary to improve and optimize the production process. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the future electronics technologies?", "acceptedAnswer": { "@type": "Answer", "text": "Smart grid solutions, wearable technology devices, prefabricated goods, the Internet of Things, and robots are some of the future electronics innovations that will propel the business forward." } },{ "@type": "Question", "name": "Is the supply chain benefiting from new technology trends?", "acceptedAnswer": { "@type": "Answer", "text": "Yes, supply chain management benefits from smart technology as well. Trucks equipped with cutting-edge technologies can get real-time data on the weather and road conditions ahead of time. It contributes to the supply chain process's reduction of possible risks." } },{ "@type": "Question", "name": "Which manufacturers are implementing the industry 4.0 concept in their factories?", "acceptedAnswer": { "@type": "Answer", "text": "Whirlpool, Siemens, Hirotec, Tesla, Bosch, and Ocado, among others, have turned their traditional factories into digitally smart ones that incorporate all of the cutting-edge technology necessary to improve and optimize the production process." } }] }

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Piller Power Systems

Piller manufactures high capacity rotary UPS, hybrid rotary UPS, diesel rotary UPS, static UPS and. static transfer switches. For 400Hz, aircraft ground power and 50/60Hz frequency conversion, Piller frequency converters are widespread in both military and civil applications.

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Digi-Key Celebrates 10 Years of Support for FIRST Robotics

Digi-Key Electronics | July 06, 2022

Digi-Key Electronics, which offers the world's largest selection of electronic components in stock for immediate shipment, is proud to announce it has received special recognition for 10 years of generous support of the FIRST® Robotics Competition. For the last decade, Digi-Key has supplied the international competition's official Kit of Parts with a $50 voucher to the Digi-Key website to purchase items for each team's robot, which helps ensure that the teams have access to millions of the components they need to build their designs. In addition to its Diamond-Level sponsorship of the global FIRST Robotics Competition, Digi-Key supports the organization in a variety of ways closer to home. Digi-Key sponsors the Great Northern Regional competition in Grand Forks, North Dakota, and several Digi-Key employees have served as judges at the event. Digi-Key also sponsors the local Thief River Falls Lincoln High School team, ProDigi Team 3277, and Digi-Key employees serve as mentors for that team. "Digi-Key is extremely proud of our decade-long sponsorship of the FIRST Robotics community, both locally and around the globe, The combination of science, technology and competition challenges students and gives them a taste of real-world engineering to prepare them for futures in the field. It's great to see so many FIRST participants go on to study and pursue careers in engineering and other STEM related fields, ultimately pushing tomorrow's innovative technologies forward around the world." -David Sandys, senior director of technical marketing at Digi-Key. Digi-Key is a pioneering FIRST Robotics Competition supporter who changed the Kit of Parts program for the better by allowing teams to select the materials they need directly from the Digi-Key website, said Chris Rake, chief operating officer at FIRST. We are continually grateful for Digi-Key's longstanding partnership as we work together to inspire students in engineering and technology. FIRST® Robotics is a robotics community that prepares young people for the future. Working with adult mentors, including Digi-Key employees, FIRST Robotics Competition participants have limited time and resources to design, build, program, and test their robots to meet the season's engineering challenge. Teams compete at events that reward design excellence, competitive play, sportsmanship, and high-impact partnerships between schools, businesses and communities. About Digi-Key Electronics- Digi-Key Electronics, headquartered in Thief River Falls, Minn., USA, enables the world's ideas by providing the world's largest selection of electronic components and automation products in stock and available for immediate shipment. The leader and pioneer in the high service distribution market, Digi-Key offers more than 13.4 million components from over 2,300 quality name-brand manufacturers. Beyond unparalleled breadth of product, they support technology innovation from concept to production with a wide variety of tools and digital solutions to make innovation easier. Immense technical content, articles, videos, conversion calculators, reference designs and design tools can be accessed online at digikey.com.

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ADDITIVE MANUFACTURING

MacLean-Fogg Announces the Grand Opening of new Sterling Heights' Additive Manufacturing Operation

MacLean-Fogg Component Solutions | July 06, 2022

MacLean-Fogg Component Solutions of Mundelein, IL, announces the grand opening of the MacLean Additive facility in Sterling Heights, MI. This new facility will be focused on the production of 3D printed components and tooling, as well as the distribution of MacLean Additive's award winning "Formetrix L-40" steel powder for tooling applications. "With the addition last year of the Formetrix portfolio to our existing additive manufacturing activities, we quickly outgrew our initial MacLean Additive space in Macomb, MI. This facility gives us the room we need to develop our durable tooling product lines, support our ever-growing steel powder customer base, as well as continue our 3D printed production part activities." -Greg Rizzo, Vice President and General Manager for MacLean Additive. A Grand Opening ceremony will take place at 2 p.m. on July 6, 2022 at the MacLean Additive facility located at 7689 19 Mile Rd. Sterling Heights, MI 48314. Credentialed media is welcome to attend, however no photographs will be allowed inside the building. Among local dignitaries and invited guests, the ribbon on the new facility will be cut by MacLean-Fogg President and CEO, Duncan MacLean. Our Grand Opening guests will see that we have a lot of room to grow in this 35,000 square foot facility. We didn't choose this large a facility because it was the only one available, we choose this facility because we know we'll have the demand to fill it, stated MacLean. MacLean Fogg had a choice of where to locate this new additive manufacturing facility, and they chose Sterling Heights, said Sterling Heights Mayor Michael Taylor. Their decision to locate in our community underscores the solid reputation we have for welcoming our business community and really engaging with them to ensure their success. The Sterling Innovation District is strategically located at the heart of customer demand and access to the specialized engineering and technician talent needed to fill that demand. That makes it a perfect fit for cutting-edge manufacturing facilities like MacLean Additive. About MacLean-Fogg Component Solutions- MacLean-Fogg Component Solutions, a division of the MacLean-Fogg Company, is a leading supplier of fastener solutions, engineered solutions, plastic solutions and additive solutions for automotive, heavy vehicle, military and other industrial markets. Visit www.macleanfoggcs.com or contact mediarelations@macleanfogg.com to learn more. About MacLean-Fogg- MacLean-Fogg Company is a worldwide enterprise with 35 global manufacturing facilities, annual sales in excess of $1 billion (USD), and a workforce of 3,500 dedicated employees. MacLean-Fogg Company operates through two primary businesses, MacLean-Fogg Component Solutions (MFCS) and MacLean Power Systems (MPS).

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MANUFACTURING TECHNOLOGY

ThinkIQ Enhances Vision Platform to Eliminate Manufacturing Blind Spots

ThinkIQ | July 05, 2022

ThinkIQ, a pioneer of digital manufacturing transformation SaaS, today announced major enhancements to its Vision platform. The new offering strengthens the company's leading Continuous Supply Chain Intelligence platform and provides unprecedented visibility on the shop floor, eliminating blind spots and increasing productivity and worker safety. Today's manufacturers require a new level of visibility that can facilitate transformative decision making across the entire manufacturing process and supply chain journey. To achieve this, the industry can't simply rely on data from smart equipment, which leaves over 80% of the process uncovered in the majority of facilities. ThinkIQ Vision embraces modern vision-processing software combined with powerful pre-packaged Machine Learning and Artificial Intelligence capabilities to turn cameras on the shop floor into powerful sensors that eliminate blind spots across equipment, materials and people to greatly enhance the available data for Continuous Intelligence. The latest version of ThinkIQ Vision now has out-of-the-box abilities to detect and digitize dozens of common manufacturing events including: Vehicle activities in receiving and shipping Material movements and presence Anonymous People presence and activity Machine state and physical events Andon light status Safety violations Values from legacy analog and disconnected digital displays Values from stand-alone displays In addition, ThinkIQ now offers edge hardware that includes cameras, sensors, wireless networking, an edge computer, and cellular back-haul equipment. This allows for a rapid deployment requiring little or no effort from the customer. When using the cellular option, the solution is effectively air-gapped from the customer network alleviating any security concerns. These hardware kits are shipped pre-configured allowing manufacturers to have cameras as IoT sensors that can be connected and functioning in just a matter of hours. "Many manufacturers are still effectively blind to a staggering percentage of events on the factory floor. With these latest enhancements, we're eliminating their blind spots and giving them the full picture by measuring machines for utilization, materials and products for status, and people for efficiency, We're constantly adding new detection and visibility capabilities to give manufacturers more context and meaning to their data." -Doug Lawson, CEO of ThinkIQ. ThinkIQ's SaaS Manufacturing cloud-based platform simplifies the creation of web-based applications and leverages the strengths of the Internet of Things, Big Data, Data Science, Semantic Modeling and Machine Learning. The platform collects data across the operation (existing and IIoT sensors) to provide actionable real time insights (e.g., identify correlations and root causes, traceability and yield issues, etc.). It creates a new level of capability beyond what independent disconnected operating environments can provide today. About ThinkIQ- ThinkIQ, a pioneer of Continuous Intelligence across the material-centric supply chain, delivers unprecedented material traceability and insight into ways to improve yield, quality, safety, compliance and brand confidence. Our continuous intelligence platform captures granular data in real time and continuously contextualizes that data to deliver a new level of visibility that can facilitate transformative decision making across the entire manufacturing process and supply chain journey. Our customers have saved $10's of millions by identifying waste and underperforming assets, as well as reducing warranty reserves for quality and safety issues.

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ROBOTICS AND AUTOMATION

Digi-Key Celebrates 10 Years of Support for FIRST Robotics

Digi-Key Electronics | July 06, 2022

Digi-Key Electronics, which offers the world's largest selection of electronic components in stock for immediate shipment, is proud to announce it has received special recognition for 10 years of generous support of the FIRST® Robotics Competition. For the last decade, Digi-Key has supplied the international competition's official Kit of Parts with a $50 voucher to the Digi-Key website to purchase items for each team's robot, which helps ensure that the teams have access to millions of the components they need to build their designs. In addition to its Diamond-Level sponsorship of the global FIRST Robotics Competition, Digi-Key supports the organization in a variety of ways closer to home. Digi-Key sponsors the Great Northern Regional competition in Grand Forks, North Dakota, and several Digi-Key employees have served as judges at the event. Digi-Key also sponsors the local Thief River Falls Lincoln High School team, ProDigi Team 3277, and Digi-Key employees serve as mentors for that team. "Digi-Key is extremely proud of our decade-long sponsorship of the FIRST Robotics community, both locally and around the globe, The combination of science, technology and competition challenges students and gives them a taste of real-world engineering to prepare them for futures in the field. It's great to see so many FIRST participants go on to study and pursue careers in engineering and other STEM related fields, ultimately pushing tomorrow's innovative technologies forward around the world." -David Sandys, senior director of technical marketing at Digi-Key. Digi-Key is a pioneering FIRST Robotics Competition supporter who changed the Kit of Parts program for the better by allowing teams to select the materials they need directly from the Digi-Key website, said Chris Rake, chief operating officer at FIRST. We are continually grateful for Digi-Key's longstanding partnership as we work together to inspire students in engineering and technology. FIRST® Robotics is a robotics community that prepares young people for the future. Working with adult mentors, including Digi-Key employees, FIRST Robotics Competition participants have limited time and resources to design, build, program, and test their robots to meet the season's engineering challenge. Teams compete at events that reward design excellence, competitive play, sportsmanship, and high-impact partnerships between schools, businesses and communities. About Digi-Key Electronics- Digi-Key Electronics, headquartered in Thief River Falls, Minn., USA, enables the world's ideas by providing the world's largest selection of electronic components and automation products in stock and available for immediate shipment. The leader and pioneer in the high service distribution market, Digi-Key offers more than 13.4 million components from over 2,300 quality name-brand manufacturers. Beyond unparalleled breadth of product, they support technology innovation from concept to production with a wide variety of tools and digital solutions to make innovation easier. Immense technical content, articles, videos, conversion calculators, reference designs and design tools can be accessed online at digikey.com.

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ADDITIVE MANUFACTURING

MacLean-Fogg Announces the Grand Opening of new Sterling Heights' Additive Manufacturing Operation

MacLean-Fogg Component Solutions | July 06, 2022

MacLean-Fogg Component Solutions of Mundelein, IL, announces the grand opening of the MacLean Additive facility in Sterling Heights, MI. This new facility will be focused on the production of 3D printed components and tooling, as well as the distribution of MacLean Additive's award winning "Formetrix L-40" steel powder for tooling applications. "With the addition last year of the Formetrix portfolio to our existing additive manufacturing activities, we quickly outgrew our initial MacLean Additive space in Macomb, MI. This facility gives us the room we need to develop our durable tooling product lines, support our ever-growing steel powder customer base, as well as continue our 3D printed production part activities." -Greg Rizzo, Vice President and General Manager for MacLean Additive. A Grand Opening ceremony will take place at 2 p.m. on July 6, 2022 at the MacLean Additive facility located at 7689 19 Mile Rd. Sterling Heights, MI 48314. Credentialed media is welcome to attend, however no photographs will be allowed inside the building. Among local dignitaries and invited guests, the ribbon on the new facility will be cut by MacLean-Fogg President and CEO, Duncan MacLean. Our Grand Opening guests will see that we have a lot of room to grow in this 35,000 square foot facility. We didn't choose this large a facility because it was the only one available, we choose this facility because we know we'll have the demand to fill it, stated MacLean. MacLean Fogg had a choice of where to locate this new additive manufacturing facility, and they chose Sterling Heights, said Sterling Heights Mayor Michael Taylor. Their decision to locate in our community underscores the solid reputation we have for welcoming our business community and really engaging with them to ensure their success. The Sterling Innovation District is strategically located at the heart of customer demand and access to the specialized engineering and technician talent needed to fill that demand. That makes it a perfect fit for cutting-edge manufacturing facilities like MacLean Additive. About MacLean-Fogg Component Solutions- MacLean-Fogg Component Solutions, a division of the MacLean-Fogg Company, is a leading supplier of fastener solutions, engineered solutions, plastic solutions and additive solutions for automotive, heavy vehicle, military and other industrial markets. Visit www.macleanfoggcs.com or contact mediarelations@macleanfogg.com to learn more. About MacLean-Fogg- MacLean-Fogg Company is a worldwide enterprise with 35 global manufacturing facilities, annual sales in excess of $1 billion (USD), and a workforce of 3,500 dedicated employees. MacLean-Fogg Company operates through two primary businesses, MacLean-Fogg Component Solutions (MFCS) and MacLean Power Systems (MPS).

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MANUFACTURING TECHNOLOGY

ThinkIQ Enhances Vision Platform to Eliminate Manufacturing Blind Spots

ThinkIQ | July 05, 2022

ThinkIQ, a pioneer of digital manufacturing transformation SaaS, today announced major enhancements to its Vision platform. The new offering strengthens the company's leading Continuous Supply Chain Intelligence platform and provides unprecedented visibility on the shop floor, eliminating blind spots and increasing productivity and worker safety. Today's manufacturers require a new level of visibility that can facilitate transformative decision making across the entire manufacturing process and supply chain journey. To achieve this, the industry can't simply rely on data from smart equipment, which leaves over 80% of the process uncovered in the majority of facilities. ThinkIQ Vision embraces modern vision-processing software combined with powerful pre-packaged Machine Learning and Artificial Intelligence capabilities to turn cameras on the shop floor into powerful sensors that eliminate blind spots across equipment, materials and people to greatly enhance the available data for Continuous Intelligence. The latest version of ThinkIQ Vision now has out-of-the-box abilities to detect and digitize dozens of common manufacturing events including: Vehicle activities in receiving and shipping Material movements and presence Anonymous People presence and activity Machine state and physical events Andon light status Safety violations Values from legacy analog and disconnected digital displays Values from stand-alone displays In addition, ThinkIQ now offers edge hardware that includes cameras, sensors, wireless networking, an edge computer, and cellular back-haul equipment. This allows for a rapid deployment requiring little or no effort from the customer. When using the cellular option, the solution is effectively air-gapped from the customer network alleviating any security concerns. These hardware kits are shipped pre-configured allowing manufacturers to have cameras as IoT sensors that can be connected and functioning in just a matter of hours. "Many manufacturers are still effectively blind to a staggering percentage of events on the factory floor. With these latest enhancements, we're eliminating their blind spots and giving them the full picture by measuring machines for utilization, materials and products for status, and people for efficiency, We're constantly adding new detection and visibility capabilities to give manufacturers more context and meaning to their data." -Doug Lawson, CEO of ThinkIQ. ThinkIQ's SaaS Manufacturing cloud-based platform simplifies the creation of web-based applications and leverages the strengths of the Internet of Things, Big Data, Data Science, Semantic Modeling and Machine Learning. The platform collects data across the operation (existing and IIoT sensors) to provide actionable real time insights (e.g., identify correlations and root causes, traceability and yield issues, etc.). It creates a new level of capability beyond what independent disconnected operating environments can provide today. About ThinkIQ- ThinkIQ, a pioneer of Continuous Intelligence across the material-centric supply chain, delivers unprecedented material traceability and insight into ways to improve yield, quality, safety, compliance and brand confidence. Our continuous intelligence platform captures granular data in real time and continuously contextualizes that data to deliver a new level of visibility that can facilitate transformative decision making across the entire manufacturing process and supply chain journey. Our customers have saved $10's of millions by identifying waste and underperforming assets, as well as reducing warranty reserves for quality and safety issues.

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