To anyone looking for work, it might sound strange to hear that some sectors of the economy are struggling to find and retain workers, but that’s the situation many engineering companies find themselves in.
Finding, educating, training and retaining talented young people is not just a dilemma for engineering companies in one region or country, it’s a global issue.
But, paradoxically, while companies in some countries say there’s a problem finding engineering graduates, in other countries such as India, large numbers of engineering graduates are reportedly not having much luck finding jobs.
John Mitchell, business development manager at CP Automation, examines the essence of lean manufacturing
European manufacturers are estimated to spend over €400 billion every year on maintenance activities. Studies show that about 30 per cent of failed machinery can be repaired at half the cost of buying replacements, which suggests a potential 15 per cent saving. John Mitchell, business development manager at CP Automation, discusses the issues that stop manufacturers cutting costs and improving productivity – the essence of lean manufacturing.
Perhaps the first thing manufacturers should consider when addressing efficiency is keeping assets low.Manufacturers can easily eliminate excess inventory from their books, and thus get better return on net assets,simply by not purchasing the inventory until it’s needed. Methods of achieving this include Just in Time (JIT) inventory management, which is also sometimes called the Toyota Production System. Figures suggest thiscould result in a 60 billion saving in plants across Europe.