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VERMONT MANUFACTURING EXTENSION CENTER

Providing Systems and Solutions to help
Vermont Manufacturers Innovate, Plan, Perform and Grow

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VMEC E-NEWS BRIEFS - ISSUE 11 - SEPTEMBER 2014

Greetings! 

Thank you for your interest in VMEC E-News Briefs.  These periodic e-newsletters cover a range of topics for manufacturers and other enterprises that desire to learn and implement systems and solutions to accelerate sustainable and profitable growth marked by performance excellence.  To submit feedback, comments or suggest future content, e-mail [email protected]. Thank you!

NATIONAL MANUFACTURING DAY and VERMONT MANUFACTURING MONTH SET FOR OCTOBER 3 and THROUGHOUT OCTOBER!

Vermont Manufacturing Day / Month has been scheduled for October 3 and the entire month of October.  Manufacturers, educational institutions and others are encouraged to host events that will highlight the importance of manufacturing to Vermont and the nation's economy and draw attention to the many rewarding high-skill jobs in manufacturing fields. For more information on hosting, attending or sharing your story, visit MFG Day 2014 or Vermont MFG Day/ Month. Be sure to check out the Green Mtn. State companies who are hosting tours, events and presentations that may be in your backyard here; this link is updated 
often so check back frequently. 

PARTNER EVENTS/ THINGS TO KNOW 

VT Business Magazine 5x5x5 Join this annual recognition on September 15 as the achievements of the five fastest growing businesses in five categories over the last five years in Vermont are celebrated. 

Join the Vermont Chamber of Commerce and VMEC as a Silver Sponsor of the event on September 25 in Essex Junction featuring exhibitors in the industry, network matchmaking, seminars and much more. Stop by Booth #329! 
 
VMEC PROGRAMS AND EVENTS 

Fall Training Opportunities Check out our training opportunities this fall, several Lean (recently added to the schedule) and new Innovation-related offerings. Some of our favorites are returning as well such as Shingo Prize winning author Jerry Solomon featuring a October 9 and 10 two-day session on  Measuring, Understanding and Improving the Lean Enterprise (check out the "Ask The Experts" article below by Becky Stygles, VMEC CFO) and Carol Robinson of Pillar Mgmt. Associates offering one, two and three-day sessions on Internal Quality Auditing and Lead Auditor Skills December 10-12. 

BUSINESS OWNER / CEO CORNER 



Manufacturing Leaders Announce New 'Critical Issues' Agenda (Manufacturing Leadership Council - Paul Tate: 7-29-14) Frost & Sullivan's Manufacturing Leadership Council, the global business network for senior industrial executives, has established a new Critical Issues Agenda for manufacturing for 2014/2015. The Council has focused the new Agenda around the following critical issues:
  • new product innovation and collaborative customer-centric cultures;
  • key transformative technologies including Big Data and analytics, the Internet of Things and digital manufacturing;
  • the need for new approaches to employee engagement to attract and develop the next generation of manufacturing leaders;
  • harnessing the potential of public/private partnerships to drive innovation and growth; and
  • the rising importance of sustainability and social responsibility practices to the industry's future. 

"The Council's Critical Issues agenda is a mirror reflection of the most important business and technology issues facing industry today," said David R. Brousell, Global Vice President and Editorial Director of the Manufacturing Leadership Council.

 

CoreValue Recent Stats from Company data show:

 
   *  73% of businesses have 'red flags' threatening their value 
   *  44% is the average portion of the 'value gap' reclaimed by improving the top 5 troubled 'value drivers'
   *  12% of companies cannot identify a market advantage over competition, depressing their value multiple 
   *  26% is the average amount of value businesses can create by strengthening their processes    
 
Contact Lisa Henderson at [email protected] or VMEC at [email protected] to learn how to build your enterprise value, while improving operations. 

THE LEAN CORNER 

Manufacturing Since the Great Recession Read the U.S. Department of Commerce, Economics and Statistics Administration report (June 2014) 

TWI Whitepaper CONNSTEP, our sister MEP in Connecticut, created this valuable document on how to train employees more effectively, efficiently and accurately with faster speeds to market

Making the Invisible, Visible Read here what one industry expert notes about nothing good happens when your work is hidden from others

For Honda, Waigaya is the Way Unplanned, agenda-free meetings at the Japanese auto giant work! 

ASK THE EXPERTS 
 
Read what Becky Stygles, CPA, VMEC CFO, says about Accounting for Lean and Jerry Solomon's upcoming return to VT in October along with this article on the subject. 
ABOUT VMEC - Click here to learn more about us. 
 
The VMEC Team  
Vermont Manufacturing Extension Center  
 
email: [email protected] * phone: (802) 728-1432 * web:www.vmec.org

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