Technologies For Your #Manufacturing Shop

I found this post on the Modern Machine Shop website and wanted to pass it along.
The post talks about five  "Go-To" technologies that can make a HUGH impact on your productivity and your goal of reducing the overall cost of your jobs.

If you wind up using even one of these technologies to your shop, you'll see the difference.

What technologies do you use in your shop? Have you seen a return on your investment?

Cash Is King In #Manufacturing

I think you will agree that one of the biggest problems for companies is cash flow. After all, cash is the lifeblood of your company .You buy your supplies with it, you pay your employees with it and of course you get to pay taxes with it.

However, many companies are lax with their cash flow management, which is very dangerous in these days when loans are harder to come by to tide you over.

4 Ways to Improve Your Cash Flow:

1. Try to do credit checks before you start up with a new customer. Folks who pay others promptly will probably continue to do so. The ones that pay slower, well you get the idea.
2. Send out invoices promptly. Again, this seems pretty straightforward but I’ve seen companies wait until the end of the week or even a month before they invoice. GET THE BILL OUT QUICK and YOU’LL GET PAID QUICK!
3. Improve your quality by making good parts the first time and they won’t be rejected. Seems counter intuitive but if you are not constantly, crediting and rebilling your customer’s accounts for bad parts you do make, your cash flow will improve and you won’t be wasting time doing paperwork.

Is Your #Manufacturing Business Ready For Growth?

Guest post by Robbi Hess, #WrittenMarketingExpert 

Business growth is what entrepreneurs seek, but it needs to be done strategically. If your business suddenly explodes with growth and you don't have a strong foundation on which to house it, the

business will surely fall under the weight of that growth spurt.

Here are steps you can take to plan for strategic #manufacturing business growth:

• Determine how much (how large) you should grow
• Decide how you will grow
• Determine your financial capacity for growth
• Take stock on whether you have the "correct" people in place to help with the growth 
• Start looking now for people you will need to fill spaces in your potential growth
• How will your company's growth impact your company culture, customer service delivery and the company's overall financial stability

Are you prepared for business growth? 

Support Small Business on #SmallBusinessSaturday

When you shop at a locally owned store, 52% of what you spend stays in the community. That is a

staggering figure, I think. When you consider that if you work with a local #manufacturer for your goods and services, you're also benefiting the community, the workforce and likely your own clients because you'll be getting high quality goods at a better price than if you had to ship/shop overseas.

As a small business owner (who will not be braving the malls or other stores on Black Friday) I encourage you to shop local, especially on November 30, which has been again designated, #SmallBusinessSaturday.