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| State of the Metalforming Industry—What Does the Data Say |
In
Q2 2023, 98 companies representing 118 facilities participated in the
PMA Metalforming Insights survey. Harbour IQ analysts are currently
finalizing the detailed report, but Laurie Harbour, Harbour Results
Inc., shares some preliminary and high-level results in her latest Love
Letter to Manufacturers.
“For the first time in recent years the economy and its impact on metal formers enter top concerns with threat of a U.S. recession and continued inflation ranking second and fourth respectively,” she writes. Harbour then goes on to offer that “most metal formers are forecasting 2023 to be worse than 2022 with 75 percent of respondents indicating that revenue will decline or be flat, and 87 percent stating that profits will decline or be flat. This is on par with other manufacturing processes. Additionally, study participants reported Q2 2023 capacity to be 58 percent, and expect it to tick up slightly to 59 percent in Q4 2023.” |
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| MagSlide Conveyor for Maintenance-Free Operation |
| Bunting
MagSlide conveyors are engineered to provide you outstanding
performance and value, when handling materials such as dirty and oily
metal chips, parts, jagged or abrasive scrap, and other punishing
materials where conventional belted or steel hinged conveyors risk being
damaged. For more information visit www.buntingmagnetics.com. |
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| OSHA Fact Sheet: Improve Tracking of Workplace Injuries and Illnesses |
| On July 21, OSHA issued a final rule, effective January 1, 2024, revising the requirements of manufacturers when submitting workplace injury and illness information to the agency. Most significant (per an OSHA Fact Sheet) to the final rule is the addition of a new category of workplaces required to submit information—establishments with 100 or more employees in industries designated as “very high risk” and listed in a new Appendix B to Part 1904, Subpart E. Among the industries listed: NAICS codes 3312 (Steel Product Manufacturing from Purchased Steel), 3321 (Forging and Stamping), 3325 (Hardware Manufacturing), 3361 and 3363 (Motor Vehicle and Vehicle Parts Manufacturing), and 3326 (Spring and Wire Product Manufacturing). |
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| Starting Up a Die-Protection Program—Five Steps to Preventing Damage to Tooling and Press |
The
primary goal for die protection is to detect problems and stop the
machine before damage can occur. When you compare different types of
press-monitoring equipment, you will find that there is no quicker ROI
than having a properly implemented die-protection system. The very first
time that a die-protection controller stops the press in time to
prevent a die crash, it probably has paid for itself.
Implementing a successful die-protection program is a multistep process, and proper implementation requires a plan. |
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| Register for FABTECH Chicago! |
FABTECH is back in the Windy City this September! FABTECH is North America’s largest metalforming, fabricating, welding and finishing event. Make sure to register by September 8 to receive free admission.
Don’t forget to stop by the Precision Metalforming Association and MetalForming magazine’s booth—D451560—during the show!
Register here |
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| Markforged Consumer Survey Reveals Belief in Onshoring, 3D Printing to Ease Supply-Chain Woes |
A
survey from Markforged indicates that consumers consider onshoring and
3D printing as key to easing supply-chain issues that have plagued
society since the onset of Covid 19. The data suggest that although a
majority have experienced shipping delays and many put the onus on the
government and businesses to overcome these issues, significant gaps
exist when it comes to knowledge around solutions, according to
Markforged officials.
The majority of survey respondents (68 percent) express belief in the
importance of onshoring for easing supply-chain issues. Expressing
confidence that technology can address these issues, 43 percent consider
3D printing as a long-term solution for addressing supply-chain issues,
with 39 percent saying that they are unsure about the potential of 3D
printing in this regard. |
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| Webinar: Discrimination and Harassment Prevention |
| Oftentimes, employees simply don’t know who to contact at their employer to discuss harassment questions or concerns. Or, they think that they might be punished for asking questions or sharing their concerns. Help is here, as Federated Insurance offers up this complimentary 30-min. webinar, on August 15, 11 a.m. CST, to provide some simple tools that employers can use to mitigate discrimination and harassment claims. |
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| Put Your Company at a Competitive Advantage |
| Position your company as an industry leader when you utilize PMA resources—ITR Econ Trends reports, trade publications, One Voice and FABTECH trade shows. A PMA membership will provide your company and all of its employees with a range of valuable industry resources that are designed to help you become more connected, more informed, more efficient, more competitive and ultimately more profitable. |
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| Cracking the Employee-Retention Code |
Certified Speaking Professional Lisa Ryan, developer of the “Grategy” system for strengthening workplace culture and fostering employee engagement, offers up this blog post, “Engage is a Verb!” She writes:
“When managers treat engagement as just another fad, they set their employees up for failure. Trust me, it's easy to spot disengaged employees—they're the ones who put in minimal effort, dread coming to work and can't seem to get along with anyone. Your "#quietquitters" may be doing just enough work to get by, but your disengaged employees are potentially costing you money—lots of it.”
Read on to learn Ryan’s “sneaky signs of disengagement,” and tips to help managers “connect with their employees and ignite that engagement fire.” |
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| Industry 4.0 Experience for Metal Formers & Fabricators Features IOT, AI and More |
A one-of-a-kind conference, PMA’s and MetalForming magazine’s Industry 4.0 Experience for Metal Formers & Fabricators, October 3-4 in Nashville, TN, is designed to educate metal forming and fabricating professionals on the latest in digital and plant-floor connectivity technologies. Among the topics on the agenda: - Manufacturing analytics
- Case study: Strategic decision making with digital twin implementation
- Machine learning and artificial intelligence for quality control and inspection
- Case study: Managing the Data Strem from the Shop Floor to the Front Office
- Case study: Driving zero downtime with predictive maintenance.
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| New Paradigm for Fighting Cyber Fraud: A Contractual Approach |
Learn
here of a new proposed approach to combatting business-email compromise
fraud in the automotive and mobility industries, from the cyber-fraud
experts at the law firm of Frost Brown Todd.
“While technological options must be considered, this often appears like a costly game of ‘whack-a-mole,’" the article notes, “as the hackers are always changing their attack vectors and improvising new schemes…. Contracts can be an important additional tool to shore up your company’s cyber defenses.” |
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| Combine Pricing Trends and Economic Foresight to Capitalize on a 2025 Rise |
“Fixed-price contracts are not advantageous for buyers today because there is more price decline ahead; they could end up paying more than market value. However, such commitments will be advantageous for buyers once prices are near their lowest point in the cycle and cyclical rise will be ongoing.”
So goes this blog post from ITR Economics, adding: “Around the middle of 2024 or a little later, companies with inputs to sell likely will welcome the commitment of a contract price or bulk order… (Buyers), meanwhile, should know that rising prices and a rising economy are just around the corner. A pricing contract or—if you have the capacity to hold inventory and a reliable forecast for imminent rise in the market(s) you are selling into—bulk purchase will help you hit the ground running when the recovery takes hold.” |
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| The "Chinese Century" is Over |
| A Yahoo News article describes rocky economic times ahead for China, calling attention to what the author calls “twin perpetual headwinds” likely to slow the country’s economic growth. One headwind: a rapidly shrinking workforce combined with a rapidly growing retirement-age population. |
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Cutting
Management