Blogs

ISM Report: Manufacturing Contraction Continues

By Tom Morrison posted 4 days ago
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“The U.S. manufacturing sector again contracted, with the Manufacturing PMI at its lowest level since the coronavirus pandemic recovery began," said Timothy Fiore.   For the third straight month, manufacturing economic activity shrank in January, according to the Institute for Supply Management’s January 2023 manufacturing sector report. Compared to the   December   seasonally adjusted reading, the ISM’s Purchasing Manager’s Index fell to 47.4% in January, 1 point lower than recorded in December. Anything lower than 50% represents contraction. The new orders index fell to 42.5%, 2.6 points lower than December. Coming in at 48%, the production index ...
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Hot Off the Press: MTI 1st Quarter 2023 Sales Forecast Released

By Tom Morrison posted 4 days ago
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The one elements of certainty in the future is how dynamic the economic forces are that drive the ups and downs in the economy. This dynamic can change quarter-to-quarter making the need for having access to highly accurate sales forecasting of upmost importance.   MTI’s quarterly sales forecasting is the heat treating industry’s best and most reliable reports you will find anywhere. These sales forecasts are exclusive to the membership of MTI.   These quarterly reports are combined with a follow-up live webcast with ITR Economics, who digs deep into the data, giving you clearer insight as to how the future will unfold, and the steps you need to take to ...
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How to Scale Supplier Finance Program in an Inflationary Environment

By Tom Morrison posted 4 days ago
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Ensuring your supplier finance program is set up for success is just one way to put yourself in the best possible position for whatever is in the year ahead. 2022 saw an inflationary environment unlike any we have seen in decades. As central banks have moved to combat inflation with higher interest rates, businesses struggle to get access to capital. This is particularly true for smaller businesses that have seen a disproportionately higher cost of borrowing and access to liquidity dry up. Inflation is expected to continue in 2023, with interest rates rising even further. Most analysts agree that we are heading into a deeper period of recession and economic ...
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What is the Best Software for Heat Treat Job Shops? Homegrown Software? ERP or MES? How do I know which is the right solution for us?

By Tom Morrison posted 10 days ago
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The heat treating industry is a unique one, in the sense that it provides so much for the manufacturing industry in its entirety, but seldom gets recognized for these critical jobs. When metal finishing job shops seek a software solution to button up their operations with better workflows and data, it’s easy to get lost in the options. Some plants outsource developers to design a custom-made solution specific to their needS, but they end up with improvements that can’t be made, or an outdated, underutilized solution that gathers dust. Alternatively, some seek the latest and greatest in enterprise resource planning (ERP) or manufacturing execution systems (MES) ...
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MTI Finalizes Details for Midwest Chapter Meeting

By Tom Morrison posted 10 days ago
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The Metal Treating Institute is excited to announce it has finalized details for the Spring Midwest Chapter Dinner Meeting.   The meeting will be hosted on April 5th at Lake City Social in Lake Geneva, WI from 4:00 pm – 8:30 pm.   Heat Treaters and suppliers from all across the Midwest region will attend to connect on key operational and audit compliance issues.   MTI meetings are always a great event to reward a couple of your top-performing leaders; giving them a bigger picture of the industry they work in.     CLICK HERE to view what other members say about the power of attending an MTI Meeting.   The meeting will start at 4:00 pm with a ...
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What is the Purpose of a Manager Nowadays?

By Tom Morrison posted 10 days ago
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A few months ago, I saw a piece of research which has stuck with me. Research by Microsoft was looking into how   Hybrid Work was working , and found out the following shocking statistic: 87% of employees feel like they are just as productive working remotely as they are in the office But 88% of managers feel like their team members are  not   as productive remotely   That means only 12% of managers feel like their team is being productive in an environment where they are not visible to the managers. And that got me asking: Why? How is it possible that managers have such a different belief about what their staff are doing, or how ...
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Manufacturing Robots: Buy? Lease? or As-a-Service?

By Tom Morrison posted 17 days ago
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Behrens Metalware discovers that robot ownership and robots-as-a-service models can provide simultaneous success. Integrating robots into manufacturing may require long lead times, substantial capital investments, operator training, and long-term maintenance plans if companies pursue purchase or lease plans. Or a manufacturer could embrace the robots-as-a-service (RaaS) model and let someone else worry about   all   the related logistics. The best choice depends on what challenges a manufacturer wants to solve. Do you want to create entirely new processes based on the robot integration or integrate robots into existing processes?   Investing in all-new ...
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What Makes a Work Culture Toxic?

By Tom Morrison posted 17 days ago
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A toxic environment is different than one that's less-than-ideal. We’ve all heard the term “The Great Resignation.” It describes the recent sharp uptick in resignations as the COVID pandemic ended. In 2021, according to the U.S. Bureau of Labor Statistics, over 47 million Americans voluntarily   quit their jobs   — an unprecedented mass exit from the workforce. Gas stations, dentist offices, and manufacturing plants alike have reduced their hours of operation because they can’t find new employees to replace those who have quit. The Great Resignation, we’re told, has upended the relationship between workers and the labor market. While there’s evidence that ...
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US Economic Activity Tepid but Prices Seen Easing: Fed

By Tom Morrison posted 17 days ago
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Although supply chain disruptions have eased in many areas, manufacturers said activity still "declined modestly on average," the Fed's report said. Economic activity in the United States remained lukewarm in recent weeks, said a report published by the Federal Reserve on Wednesday, with expectations of "little growth in the months ahead." But selling prices have "increased at a modest or moderate pace," and future price growth is expected to cool further in the year ahead, said the Fed's last "beige book" survey of economic conditions. Since last year, the Fed has embarked on a forceful campaign to cool demand as inflation soared to decades-high levels, ...
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MTI 2023 Spring Meeting Hotel Room Block NOW OPEN

By Tom Morrison posted 24 days ago
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When it comes to MTI Spring National Meetings, only one phrase comes to mind for many…. “Book your hotel early, or miss out.”   Year in and year out MT I’s Spring Meeting sells out due to a number of factors:   High quality education Connection to the most creative minds in heat treating Phenomenal locations that create an exciting learning experience   2023 will be no different.  MTI’s 2023 Spring Meeting will be hosted at the Naples Grand Beach Resort in Naples, FL on May 8-10.  It will offer everyone a great transition from the chill of winter and snow, to warm sand and waves in 80+ degree sunny weather.   Check out the ...
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MTI New Business Insurance Program Saving Members 20-40% on Premiums

By Tom Morrison posted 24 days ago
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When it comes to insuring your heat treat plant in today’s uncertain business climate, two challenges are driving members crazy:   Accessibility: Many insurers are not writing or renewing heat treaters, and Affordability:   Heat treaters are seeing rates rise dramatically   Many MTI Members have shared that they are experiencing a cancellation of coverage, refusal to be offered a quote, or large rate increases. This puts a company at great risk that hits the bottom line hard.   In October of 2023, MTI approved an official insurance agency to bring viable business insurance options at an affordable premium to MTI members through Precision ...
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These are the 4 Skills You’ll Need in the Workplace of the Future

By Tom Morrison posted 25 days ago
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The digital skills required for workers to thrive in the workplace of the future “are moving from Silicon Valley to Main Street”. Researchers analyzed hundreds of millions of recent job postings in the US, to identify the four most in demand skills in our changing workplaces.   The  Burning Glass Institute  partnered with the  Business-Higher Education Forum  (BHEF) and  education publisher Wiley  to produce the report  How Skills are Disrupting Work .    The most in demand skills  Analysis of 228 million job ads revealed, “the fastest-growing, highest-demand emerging skills sets” are:   Artificial intelligence (AI)/machine learning (ML) Cloud ...
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MTI Educational Foundation Scholarship Application Process NOW OPEN

By Tom Morrison posted 01-05-2023
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Every industry is hungry for the next generation of workers. The Metal Treating Institute launched its new career recruitment website in 2022, HeatTreatCareers.com. It is a central digital resource for anyone looking for a career can see what heat treating is all about, the impact of heat treating, and why work in the heat treating industry. MTI encourages all members to link it on the front page of their website, with the banner ad below.     CLICK HERE to download the Career Opportunities banner ad.   To take it a step further with career recruitment, since 2017, the MTI Educational Foundation has awarded over $225,000 in educational scholarships ...
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MTI Operational Cost Survey Opening February 1

By Tom Morrison posted 01-05-2023
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One of MTI’s top value benefits for Members is our Semi-Annual Operational Cost Study.   Comparing how you perform against industry averages is critical in analyzing how competitive you are. Why? Because costs drive quotes. MTI’s Ops Cost Study gives you the inside track on how competitive you are on costs, and where you need to focus on improvement.   Every six months, commercial heat treaters from the U.S. and Canada input their figures into MTI’s online, secure, and password protected system for 11 key cost metrics. At the end of the reporting period, those who input their data can download a full report that compares your figures to the following: ...
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Supply Chain 2023: Better Data Brings More Answers

By Tom Morrison posted 01-05-2023
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Prediction: Analytics, artificial intelligence and machine learning solutions will increasingly help with better performance and real-time prediction. Last year dealt the world's manufacturers and supply chains powerful lessons. Next year they will put those learnings to use, as makers and shippers everywhere invest in new ways to understand and respond to their worlds.    We started last year with expectations of something like a return to normal after the waves of COVID that began in 2020. Instead, we found ourselves dealing with the effects of war in Ukraine, inflation, scarcity of some basic materials, economic slowdowns and continuing COVID lockdowns ...
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MTI 2023 Member Resources Focused on 6 Key Areas to Grow Productivity, People, Quality, and Safety

By Tom Morrison posted 12-29-2022
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As MTI Members look into 2023, uncertainty and rapid change will be two of the biggest obstacles that most will face.   With inflationary pressures, uncertainty about the on-going recession, and a tight labor market, it is a challenge to navigate the market to know what path to take to grow your company.   Having access to real-time, relevant information is key in 2023 and beyond.   In MTI’s latest Monday Operational Check-ins, Members share the following: 76 % met or exceeded their expectations and forecasts for their business plans in 2022 24% did not meet their expectations and forecasts in their business plans in 2022 The top four areas of ...
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The Importance of Training Employees: 11 Benefits

By Tom Morrison posted 12-29-2022
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As technology advances and workplace strategies evolve, there comes a need for professionals to align with these changes in terms of knowledge and skills. One of the best ways to enhance knowledge and skills is through training. Providing employees with relevant and consistent training can help improve performance and efficiency in the workplace.  In this article, we explain the importance of training employees and provide a list of potential benefits. What is the importance of employee training? Training is important because it represents a good opportunity for employees to grow their knowledge base and improve their job skills to become more effective ...
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From Crypto to Chips: Top 10 Policy Pronouncements for 2023

By Tom Morrison posted 12-29-2022
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A prescriptive look at what's ahead from science and technology think tank ITIF. As Yogi Berra once said, making predictions is hard, especially about the future. So, looking ahead to the New Year, ITIF can offer the following predictions with only 90% confidence. The other half is prescriptive: Calm down about crypto collapse . The crypto craze was never a tech thing; it was a Ponzi thing that just happened to use fancy tech. Unfortunately, Americans seem to be incapable of differentiating Ponzi schemes from real investment vehicles. While we shouldn’t have sympathy for Sam Bankman-Fried, neither should we have much sympathy for the “greater fools” ...
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Why Workers Fail to Wear Safety Gear — and how HR Can Fix That

By Tom Morrison posted 12-22-2022
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At one facility, employees’ children made artwork for display “to remind people this is why we are safe.” No one wants an unsafe workplace, but it’s easy for employees to forget how important things like hard hats, hand protection and reflective gear can be. That’s especially true if they find the equipment or clothing hot, if it limits movement, or if provided options just don’t fit. While human resources professionals aren’t always responsible for identifying and addressing hazards in the workplace, they can play a role in fostering a culture of safety by creating training and education materials about how to wear gear and the importance of such safety ...
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MTI Releases 2023 Dates for Sales Forecasts, Technical Spec Updates, and National Meetings

By Tom Morrison posted 12-22-2022
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In 2023, the most important dates you can have on your calendar are MTI’s LIVE webcasts and in-person meetings for:   Quarterly Sales Forecasts Technical Specification & Audit Compliance Updates MTI National Meetings   With the markets and economy shifting so rapidly, it is important you and your key management team members are connected in and watching MTI’s LIVE webcasts throughout 2023.   These updates will bring certainty to your financial management and decision making process.   MTI’s forecasting partner, ITR Economics, will dig into the key numbers in heat treat sales, 2 leading indicators that heat treat sales follow, and the 8 industry ...
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