Archive for the "Manufacturing" Category

Content Marketing Can Work with Account-Based Marketing

Content Marketing Can Work with Account-Based Marketing

Account-based marketing has traditionally utilized outbound marketing tactics, until now.

Account-based marketing has been around for decades, but it has been gaining a lot of attention in the past few years. More and more companies are starting to use account-based marketing to increase their brand awareness with specific audiences and work together with sales teams to close deals.

But what is account-based marketing?

Account-based marketing

Account-based marketing (ABM) is a focused approach to B2B marketing in which marketing and sales teams work together to target best-fit accounts and turn them into customers. Marketers and sales teams focus their efforts on specific accounts — companies, customers, target audiences — and work to get marketing materials in front of them.

Essentially, account-based marketing takes a potential customer and turns them into their own market. “[ABM] is to address the needs of organization by connecting with all of the stakeholders within it. That’s one reason why it works so well in B2B — oftentimes you have to work with five or more stakeholders in a given sale,” writes Sam Balter, HubSpot’s Corporate Marketing Manager.

So how can content marketing help with ABM, which has traditionally been a sales strategy?

Content marketing and account-based marketing

Inbound marketing focuses on audiences finding you. Instead of pushing a message onto buyers, inbound marketing allows you to establish your brand as an industry leader and let interested audiences come to you. This type of marketing attempts to draw in potential customers through interesting and engaging content.

Content marketing is a type of inbound marketing that uses blog posts, social media, infographics, and video to expose target audiences to a brand.

Merging sales and marketing efforts

There’s no reason that ABM and content marketing can’t work together. In fact, you’re missing out on maximizing your marketing efforts if you aren’t incorporating both of these marketing strategies in your overall marketing plan.

Traditional sales pitches are no longer pushing buyers down the sales funnel. Instead, buyers want a personalized experience, where they feel they are getting to know a brand before they make a buying decision. Click To Tweet

Today’s buyers don’t want to be ‘sold.’ Traditional sales pitches are no longer pushing buyers down the sales funnel. Instead, buyers want a personalized experience, where they feel they are getting to know a brand before they make a buying decision.

What does this mean for your ABM strategy? It means that content marketing can help educate and inform the specific accounts your sales team has identified through valuable, interesting content.

“For example, if you approach any content you create as part of the strategy with both goals in mind, you can create a piece of content that is both incredibly useful from a keyword perspective (and drives a ton of traffic to your site) while also providing all the key information that you’d like to say to your ABM contacts,” writes Stacy Willis for Impact.

When creating content for any marketing effort, the key is to make sure that your content has value. Whether you’re trying to attract a specific account or looking to increase web traffic, content marketing focuses on value and not just volume.

Creating a cohesive account-based marketing and inbound marketing strategy will help maximize your marketing efforts. Though not traditionally used together, it’s time to think outside the box and start seeing the benefits of a joint marketing approach.

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Archive for the "Manufacturing" Category

Are the Robots Winning?

Are the Robots Winning?

Automation in manufacturing can help create more, better paying jobs. But two leading economists have examined real-world data and concluded that the robots may be winning after all. Is it true?

Last year I wrote about artificial intelligence (AI) and the potential loss of American jobs. At the time, I thought; “Yes, people will lose jobs — that is inevitable. Automation, however, will create many more.”

Automation would create leaner, more efficient operations. Efficiency facilitates new market opportunities and business growth, which in turn would allow for expansion and job creation.

It felt like a good argument! And I wasn’t alone. If one looks at media coverage from last year, one can find plenty of references to “beating the robots.”

There was a palpable feeling, an energizing hope, that automation would, in fact, ultimately create more, better paying jobs. And these new jobs wouldn’t be the low-skill positions of their pre-automation predecessors, but rather higher-paying opportunities operating new technology and supervising automated processes.

In a paper last year, two of the most respected researchers on the subject said it was likely that increased automation would create new, better jobs, so employment and wages would eventually return to their previous levels.

It all seemed positive.

This year’s news

But wait. The same researchers — Daron Acemoglu of M.I.T. and Pascual Restrepo of Boston University — published an updated study that has gained a tremendous amount of attention. It was covered in-depth by the New York Times, with the title: Evidence That Robots are Winning the Race for American Jobs.

Sadly, their study appeared to be the first “to quantify large, direct, negative effects of robots.”

In referencing the difference in prognosis from last year to this year, the NYT article noted that the older paper was “a conceptual exercise” and the new study “uses real-world data — and suggests a more pessimistic future.”

I thought, I’m going to have to write a new article. It was tentatively titled, “I Take It Back: The Data Says the Robots May Be Winning.”

But as I sat down to write, something just didn’t add up. How did all this jive with the latest employment news? Only days ago, unemployment rates hit 3.9%, a rare low, mimicking rates we haven’t seen since 2000.

Taking in the whole picture

As I looked further into the study, I found that it covered 1990-2007, a lengthy but rather unique time in our economic history. The years from 1990 to 2007 saw a dotcom boom and burst. (Just for reference, unemployment rates rose sharply in 2009 and 2010, but have been on a steady decline since then.)

The robot vs. man study said that robots were to blame for up to 670,000 lost manufacturing jobs between 1990 and 2007. I’m not arguing with the study.

But they then go on to conclude the following: The numbers will rise because industrial robots are expected to quadruple. And from where I sit in 2018, I simply don’t see the facts to support that assumption.

Let’s look at manufacturing specifically. Are machines and automation blowing up the manufacturing sector? Well, yes and no.

Certainly manufacturing jobs have had a sharp decline over the last 20 years; that’s undeniable.

But since 2000, their percentage of the overall job market has held generally stable between 8 and 9%. And current employment statistics for 2018 show increases in the manufacturing sector.

Now, I’m not suggesting manufacturing jobs are “roaring back” by any stretch. But a positive trend line is … well … positive. The prognosis of a “pessimistic future” just doesn’t seem widely supported yet by the facts. Time, as always, will tell.

Of course, economists warn that employment rates aren’t the whole picture. While they may mimic that of 2000, they warn that the economy isn’t the same and that it is concerning that wages have been slow to rise even though unemployment has fallen.

From what I see now, however, I still feel optimistic that AI and automation will create leaner, more efficient operations that will, in turn, create new (even if different) jobs. To me, it still looks like the ones winning from the increasing technological advances in the manufacturing industry are, in fact, we humans.

This post originally appeared on EBN Online.

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Is the Tesla the Next Honda Accord?

Is the Tesla the Next Honda Accord?

Tesla has been long-favored to lead the charge in the mass adoption of EVs, but recent challenges have halted production. Can the Tesla become the next Honda Accord before they run out of money?

Plug-in electric passenger cars achieved a market share of only 1.16% of all car sales in 2017. That’s tiny. Some predicted 2018 might be the “year of the electric car,” but sales aren’t expected to break 2% this year.

The auto industry is betting billions that electric vehicles will soon be as “cheap and ubiquitous as conventional cars.” Click To Tweet

Nearly all experts believe, however, that change is indeed coming. The auto industry is betting billions that electric vehicles (EVs) will soon be as “cheap and ubiquitous as conventional cars.” Some projections put electric vehicle sales over 20% by 2025. Others are more cautious and predict a slightly delayed rise to 25% by 2030. If the industry hits those numbers, it will be a boon to the electronics industry, as the number of cars with electronic components and the number of electronic components in each car grows by leaps and bounds.

Tesla has been long-favored to lead the charge in the mass adoption of EVs. But production of the company’s Model 3, the carmaker’s attempt at a mass-market sedan, has had major challenges, including issues with its supply chain. Can Tesla beat the ticking clock before the massive influx of money dries up?

Tesla’s ticking clock

Tesla is racing to overcome obstacles that have slowed the Model 3 progress, and the company’s make-or-break moment is fast approaching. The carmaker must boost production of the Model 3, or they will run out of money by the end of the year.

Since going public in 2010, Tesla has burned through an estimated $10 billion. Last year alone, Tesla spent more than $3.4 billion in cash — almost $1 billion a quarter — largely to bring production and sales of the Model 3 to sustainable levels.

Earlier this month, Tesla revealed that it nearly hit its target to manufacture 5,000 Model 3s a week, a production goal that is necessary to generating enough cash in house to sustain its own operations. Without it, the automaker will need to raise even more capital from outside investors.

Everyone expects that Tesla could, in fact, raise more funds if necessary. But proving it can build Model 3s at the thrice-promised target rate would go a long way in securing it.

The issues working against EVs

Even without its production issues, Tesla and other electric-vehicle manufacturers have their fair share of roadblocks.

The biggest issue to the supply chain? Electric-car battery manufacturing depends on the supply of certain minerals, including cobalt and lithium. As demand increases, these raw materials are increasingly scarce. Manufacturing is literally running into a metal crunch.

The biggest logistical issue? There are currently not enough places to re-charge.

Where exactly will we charge all those electric cars we plan on buying? Experts say that simply duplicating the existing refueling system, where motorists “charge up” like they “gas up” today would likely require dozens of new power plants or massive new investments in solar and wind farms.

The biggest issue to the American consumer? Battery-powered cars still cost more. Until that changes, consumers will still have a reason — a big reason — to go for more traditional gas-powered vehicles.

Could the Model 3 become the next Honda Accord?

So, even with all these current issues, could the Model 3 still be the highest-selling car of the next 40 years?

Tesla may still have a fighting chance if:

  • they can solve their production issues;
  • the battery market can find alternatives to its raw-materials shortage;
  • the American public can feel confident that their batteries won’t die on the highway;
  • the cost of EVs can rival that of traditional vehicles

Admittedly, that is a lot of “ifs,” but somehow no one is REALLY doubting that Tesla will pull it all off. But, not yet. A study last year found that 70% of millennials don’t yet want an electric car. Huh. Electric cars have mystique but simply don’t yet have widespread appeal.

Even taking these surprising stats into consideration, that still means 30% of young buyers consider an electric vehicle even now. So, by 2025 or 2030, when all the kinks are ironed out, they just may be as vanilla as Honda Accords. Except that the Model 3 is gorgeous, and electric, and made by Tesla. So maybe more like vanilla with rainbow sprinkles.

This post originally appeared on EBN Online.

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Internet of Things — Connecting the Unconnected in Supply Chain

Internet of Things — Connecting the Unconnected in Supply Chain

The Internet of Things is revolutionizing manufacturing and supply chain. Is your organization prepared?

This article is part of a series of articles written by MBA students and graduates from the University of New Hampshire Peter T. Paul College of Business and Economics.

“If you think that the internet has changed your life, think again.  The Internet of Things (IoT) is about to change it all over again!”

This famous quote from co-founder of Aria Systems, Brendan O’Brien, sums up the significant role that the Internet of Things is playing now, and also its unlimited potential in the near future.  The technology can be defined as the networked connection of physical objects.

More than 1.2 trillion items on earth now have the potential to join the IoT network, but less than one percent of them are connected to the internet. Click To Tweet

Since 2014, Internet of Things is no longer a new term for most companies.  However, this is just the beginning of the IoT revolution.  More than 1.2 trillion items on earth now have the potential to join the IoT network, but less than one percent of them are connected to the internet.

And if we look at estimated worldwide spending on IoT through 2020, manufacturing, logistics and utilities are the industries that will spend the most money on this technology.  This is partially due to their reliance on supply chain management.  In addition, their supply chain networks are usually much more complex then companies from other industries.

The real value of Internet of Things is the data captured during the process, instead of the devices themselves.  Nowadays customers are expecting higher quality products delivered in the shortest amount of time.  That trend requires companies to have a more efficient supply chain in order to fulfill the demand.  Brand matters less as it did a decade ago.

How to move products from the factory to consumers’ hands more efficiently becomes the new challenge for all players across all industries.  Meanwhile, saving cost, adding asset velocity through enhanced transparency, as well as visibility are also the potential benefits by embracing the Internet of Things.

There are a number of IoT practices in supply chain:

Operational efficiency

Warehouses always play a vital role in a supply chain.  It is also an area where IoT technology shows its magic by providing competitive advantages through data acquired from sensor networks.  And generally, it can be improved from four aspects:

  1. Manufacturing maintenanceSensors and robots linked to the internet increase up-times, reduce operational costs, and improve overall service quality. By visualizing and collecting data — such as temperature and equipment malfunction — managers are able to see and control operations on the floor in a real-time manner.  Data collected in the IoT process can also be used in setting alerts for predictive maintenance.  It works like HP Instant Ink, which will automatically order new ink when you the printer is about to run out of the old one.
  2. Inventory forecasting – As Vice President of IT at DHL Supply Chain Javier Esplugas said: managers no longer have to wait for weeks or months to get a report to have an understanding what happened during the last quarter. Instead, managers can make decisions on things that are happening now.  Even companies using a 3PL can closely monitor the distribution centers and warehouses so that they can avoid prolonged cycle times and receive warnings in advance.
  3. Asset tracking – In a warehouse, scales and visual sensors can alert workers about fulfillment needs. The IoT also reduces human error for inbound and outbound records, requiring less human capital for one warehouse.
  4. Freight transportation – Logistics also holds a great potential for IoT networks. Today, sensors can track and monitor a container in a freighter in the middle of the sea or on a cargo flight.  In the future, IoT will also be used to provide a more secure freight transportation environment.  In 2016, around $3.7 million worth of consumable goods was stolen in cargo thefts in the U.S.  The number of incidents reported in 2016 was 692.  Through IoT technology, owners will have access to real-time information on the movement of goods.

Real-world examples

We’ve already seen leading car manufacturer BMW using IoT to improve its product lines efficiency.  That is the most basic level of optimization within a warehouse.

A more thorough example would come from DHL. This global company actively involves IoT in different stages of its logistics process.

The journey of a package at DHL starts at the time it’s received by a carrier.  By scanning the bar code or QR code on the package, it is formally recorded in the company’s system.

When the package arrives at the warehouse, basic information such as height, weight, and goods type will be collected as it enters the gate, providing accurate inventory control for workers.  Sensors in the facility will be constantly monitoring the condition, as well as location of the items, giving workers a visual graph on the computer.  When the package leaves the warehouse or sorting center, sensors built in the gate will collect information again for outbound items.  Cameras attached to the gateways could also be used for damage detection.

They call the warehouse with all those systems the Smart Warehouse.  And now they are testing the solution in multiple locations.

Due to the fact that DHL has been focusing on global logistics, its activities always include freight transportation.  To reduce the inventory delays as well as the cost of stolen goods, DHL expects to set up location and condition monitoring through IoT.  Ultimately, transport visibility and security functions will be enhanced.

What’s more, DHL’s Supply Chain segment is developing a software that gives clients a way to manage global supply chain risk by providing alternatives.  The tool can find other optimized solutions by leveraging data collected from connected objectives.

Last-mile delivery

It makes a lot of sense to introduce IoT to warehouse management or freight transportation.  However, for last-mile delivery, it can be a very different story.  This final part is highly dependent on labor.

Carriers use data collected from vehicles for road condition in order to optimize the route.  Before delivery, they would send notification to the end-customer, who has the choice to either accept the scheduled delivery time or re-schedule the delivery.

The future

By the year of 2020, the number of devices connected to the IoT will be over 50 billion.  But that’s still just 3 percent of the number of all things on earth.

JDA’s Intelligent Manufacturing Survey discovered that 57 percent of manufacturers were going to incorporate IoT into their digital supply chain strategy.   However, according to an Accenture report, up until the beginning of 2017, 88 percent of manufacturing executives were not prepared to adopt the technology.  This is going to benefit companies that are willing to be the first movers and create barriers for the rest to catch up.

So, is your company ready for the digital revolution?

About the author

Xiaoxue Liu, originally from China, is a current MBA student at University of New Hampshire, with a huge interest in supply chain digitalization. 

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Will 3-D Printing Help Us Get Over Our Fear of Potholes?

Will 3-D Printing Help Us Get Over Our Fear of Potholes?

3-D printing opens up new revenue opportunities for supply chain, helping companies meet demand in real time, manage inventory without limiting products they offer, and increase lead time.

This article is part of a series of articles written by MBA students and graduates from the University of New Hampshire Peter T. Paul College of Business and Economics.

Spring has finally arrived in New England. However, with spring comes every vehicle’s most dreaded enemy, the pothole! My coworker Will recently fell victim to one such nemesis. His part-sourcing saga has me wondering how soon the narrative may change.

On what started as a normal morning, Will soon found himself calling a tow truck to get his car to the shop and a coworker to get himself to work. An unavoidable pothole caused one of his ball joints to fail, and limping anywhere was not an option. The silver lining of the day was that his very accommodating mechanic agreed that Will could source his own parts.

A sourcing saga ensued.

The layers of research he had to do was frustrating. Which manufacturers make the quality of product he wants? Then which distributors can provide him the quantity he needs when he needs them at the best price?

This meant calls to local auto part stores, price checking against online distributors, verifying brands & model numbers, accounting for lead times, stockouts, shipping and handling fees to determine how to get the best total value of quality, cost, and delivery.

Complex decisions like this are common in many sourcing scenarios.

But does it have to be?

What if distributors could better manage their inventory without limiting the products that they offer or increasing the lead times to their customers?

With 3-D printing, that may soon be attainable.

Rather than holding inventory from various manufacturers, a distributor could have license agreements with manufacturers to print parts on demand.

Revolutionary though this sounds, it’s not an unfamiliar model. Not so long ago, buying music meant going to a physical store to purchase or order an album. Now streaming services have license agreements with record companies to meet consumer demand in real time.

Jay Leno has been 3-D printing parts for his fleet of classic cars for nearly a decade. He admitted that initially the costs were prohibitive for most people. However now that 3-D printers are available at a wide range of price points, it is becoming more economical to print products on demand.

Printing parts with low inventory turns on demand would reduce inventory costs within the entire supply chain, having a positive impact on a company’s bottom line. High-value, low-volume parts like those of late model vehicles are the perfect candidates. In fact, BMW, Porsche, and Mercedes-Benz Trucks have begun 3-D printing spare parts older models and freight trucks.

3-D printing and logistics

The next logical progression to reduce overall supply chain cost is to move production as close to the customer as possible. Logistics companies are positioning themselves to be ready to integrate into this production model.

Both UPS and DHL have recognized the potential for end-of runway 3-D print capabilities and local 3-D “print shops.” UPS has partnered with SAP and Fast Radius to launch its On-Demand 3D Printing Manufacturing Network, which leverages 3-D printing technology, analytics and UPS’s global network to execute production at the location where capacity and logistics are optimum.

This summer, BMW Motorrad will provide spare-part printing capability directly to customers with BMW Motorrad iParts, a mobile 3-D printer designed to travel with you on the back of your BMW Motorrad motorcycle. Customers will use a mobile app to download a part file from the cloud-based library and print parts on the go. Although limited by the size of the printer, Motorrad rides will be able to replace small parts in nearly any location. Customers can even preload files so, no matter where they are — the side of a mountain or the middle of a desert — they can make spare parts.

These companies are not alone in seeing the value of 3-D printing on the go. Amazon made headlines when it first filed for a patent on a 3-D printing delivery truck. That patent was granted at the beginning of this year. Although a launch plan has not been announced, a major player with that capability is a definite catalyst for more innovation at the intersection of 3-D printing and logistics.

The future

It’s clear that logistics and inventory management will not look the same 10 years from now. The question is: when and where it will be economical to print parts on demand? Click To Tweet

It’s clear that change is coming, logistics and inventory management will not look the same 10 years from now. The question is: when and where it will be economical to print parts on demand? Will it be at an end-of-runway distribution center, a local multipurpose 3-D printing shop, or on-site at repair shops? Will AAA be able to print a new ball joint in a roadside truck and change it out like it was no different than the services they offer for tires and battery today? I can’t wait to find out.

In the meantime, Will had to deal with today’s sourcing options. After many phone calls, dozens of emails, and multiple carpools to work, his car is back on the road. And he believes he got four new ball joints at a good value.

About the author

Ruth DeMott is a quality engineer at Pratt & Whitney currently pursuing an MBA at the University of New Hampshire. She holds a BS in Industrial Engineering from Worcester Polytechnic Institute (class of 2010). She has held roles of increasing responsibility in the manufacturing and quality engineering departments since joining Pratt upon completion of her undergraduate degree. She is involved in the New Hampshire Youth Rugby program, enjoys traveling, putting things together, and spending time with friends and family.

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Cyberattacks on American Factories Are Real

Cyberattacks on American Factories Are Real

While information-heavy companies employ entire teams dedicated to cyberattacks, American factories have quietly been growing more and more susceptible.

It’s been eight years since the widely publicized Stuxnet virus was released to wreak havoc on its unsuspecting victims. Are we in a better place now to deal with a highly sophisticated next-generation Stuxnet-style attack?

Information heavy companies have entire teams dedicated to cyber defense, while American factories have been left more and more susceptible. Click To Tweet

Most experts say no. In fact, studies suggest that manufacturers, in particular, are increasingly vulnerable to cyberattacks. While information-heavy companies have grown to employ entire teams dedicated cyber defense, American factories have quietly been growing more and more susceptible.

Time to Pay Attention

Ransomware attacks, in which hackers use malware to encrypt data, systems, or networks until a ransom is paid, are alarmingly common. According to a recent report from Radware, 42% of global companies have dealt with this kind of attack. That number has been steadily rising. The number of companies reporting financially motivated attacks has doubled in the last two years.

Manufacturers — if you haven’t been paying attention yet, it’s time. This summer, about half of the organizations targeted by the sweeping Petya ransomware cyberattack were manufacturers. The recent WannaCry virus actually forced a Honda plant in Japan to halt production.

And there’s a bit more: The Wall Street Journal recently reported on what they call a new type of cyberattack that targets factory safety systems. Hackers who attacked a petrochemical plant in Saudi Arabia last year specifically focused on a safety shut-off system.

Is the WSJ right? Is this a new trend? Will hackers begin targeting control-system computers that manage American factory floors, chemical plants, and utilities on a more regular basis? Maybe.

There are plenty of theories that even the most crippling ransomware attacks like Petya and WannaCry are, at their core, motivated by something other than money, namely sheer pleasure in chaos and disruption. The potential damage to factory production and safety systems is growing. Now is the time to wake up and pay attention.

Factories Growing More Susceptible

Factories and manufacturers are at a heightened risk for a few coinciding reasons.

The complexity of our supply chains is a liability. With parts and materials from diverse and sometimes changing sources, as well as networks that can span all phases of production, our supply chains are large and constantly adapting and, because of this, extremely vulnerable.

The intensity of the manufacturing schedule raises a second issue. Many manufacturing facilities run around the clock, and halting factory production for testing is often cumbersome and costly.

The third reason is, of course, the byproduct of a manufacturing sector that has become steadily more data-driven and dependent on information technology. As manufacturing has steadily merged with technology to create the Industrial Internet of Things, we too have unknowingly created a space in which hackers see the potential for massive amounts of under-protected data, equipment, networks, and intellectual property.

How Can We Prepare

We’ve all heard the mantra, “The first step to solving any problem is admitting you have one.” A core concern has been the manufacturing sector’s inability or unwillingness to face this growing threat.

report summary issued through a joint venture between MForesight and the Computing Community Consortium warned, “There’s a widespread failure to reckon with the risks.”  The report recognizes that solving the issue will be long-term and complicated, but offers a few suggestions, including wide-reaching efforts to increase awareness, collaboration with trusted third-party partners, and cybersecurity research and development.

In the shorter term, maybe this can help. Last year the National Institute of Standards and Technology (NIST) released a Cybersecurity Framework Manufacturing Profile that provides a roadmap to managing cybersecurity and reducing risk to your manufacturing systems.

But I think Sridhar Kota, professor of engineering at the University of Michigan, hit the nail on the head in his article entitled A Plan for Defending U.S. Manufacturers from Cyberattacks, when he wrote: “Cybersecurity needs to become a deeply ingrained part of every manufacturing company’s culture — embedded in management decisions, workforce training, and investment calculations.”

The risks to manufacturers are growing from all-too-common ransomware attacks to sophisticated Stuxnet-style assaults targeting our safety systems. Its’s time that we in the manufacturing sector think of cybersecurity, and cyber defense, in absolutely every decision we make. To do otherwise is reckless.

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