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Machine Learning for Risk Management
Gilles Hilary, Sivakumar Viswanathan
It all started as a normal day for traders David and John (not their real names). Out of the blue, their company’s audit and compliance team called them, seeking clarifications about some of their recent trades. Shortly afterward, David and John realized they had just become victims of the rise of…
First the Innovation, Then the Persuasion
Andrew Maynard
Elon Musk, CEO of Tesla Motors, recently revealed the second part of his master plan for the company, and it’s a doozy. Not content with producing sleek electric cars (which to be fair, were only a stepping stone to greater things), Musk wants to fundamentally change how we live our lives. But the…
Reducing Wait Times at the Doctor’s Office
MIT News
Ever waited way too long at your doctor’s office for an appointment to start? Those long waits may soon be over. A schedule-optimizing software developed by MIT spinout Arsenal Health gets more patients seen more quickly and could soon be used by thousands of healthcare providers across the…
An Underused Lesson From Ohno and Deming
Harish Jose
Today I’d like to take a look at a lesson from Taiichi Ohno regarding the pursuit of quality. His comment, “The pursuit of quantity cultivates waste, while the pursuit of quality yields value,” struck a chord with me. Among other things, he's referring to the importance of resisting mass-…
New ASTM Standard Will Boost Sustainable Manufacturing
ASTM International
(ASTM: West Conshohocken, PA) -- A new ASTM standard, E3012—“Guide for characterizing environmental aspects of manufacturing process,” will help manufacturers incorporate more sustainable practices into production. The standard, developed by ASTM International Committee E60 on Sustainability, will…
Becoming a ‘Why Not?’ Engineering Culture
Eugene Daniell
Sponsored Content For more than 30 years, Hendrick Motorsports has consistently been one of NASCAR’s most successful teams. In the course of winning a record 11 Sprint Cup Series championships, Hendrick Motorsports has learned that it must innovate constantly to stay ahead of the competition.…
Join the World Standards Day Paper Competition by Aug. 19, 2016
American National Standards Institute ANSI
(ANSI: Washington, D.C.) -- World Standards Day is celebrated annually around the world to increase awareness of the role that standards play in the global economy. To help celebrate the importance of standards, SES—The Society for Standards Professionals and the U.S. Celebration of World…
How Industrial Firms Can Pivot to Digital Business Models
Knowledge at Wharton
Have you seen the recent commercial where a young son tells his parents that he’s going to work for GE—as a software developer? Their response was one of bewilderment. In their minds, GE is a manufacturer. The commercial exemplifies the idea that the mental models of leaders—their attitudes,…
ISO 14971 or FMEA: Which Should You Use?
Jesseca Lyons
This may be stating the obvious, but engineers are generally very analytical. One of the areas where this trait comes to the fore is in evaluating all the ways things can go wrong. This includes exposure and using tools like failure mode and effects analysis (FMEA). As an engineer, there’s a good…
Twelve Characteristics of Great Leaders
Mike Figliuolo
Sponsored Content M ost of us are good leaders. Most of us aspire to be great leaders. Few are. What does it take to transcend “good” and become “great?” What’s the secret? There isn’t one. The differences between a good leader and a great one boil down to a handful of traits that inspire people…
The Basics of Shaft Measurement
Patrick Nugent
Sponsored Content A simple fact in manufacturing is that everyone has to measure. However, when precision is the ultimate goal, measurement is not simply about inspection, it’s about process control. Manufacturers need the right tools to increase quality, maximize productivity, and, ultimately, to…
Feynman and the O-Ring
Denise Robitaille
The great physicist Richard Feynman is best known—at least among laypeople—as the person who solved the mystery of the Challenger space shuttle explosion more than two decades ago. Many of us remember the image of an O-ring suspended in a glass of ice water sitting on a conference table…
Andy & Me and the Hospital: Further Adventures on the Lean Journey
CRC Press
(CRC Press: Boca Raton, FL) -- In a cool and readable style, Andy & Me and the Hospital: Further Adventures on the Lean Journey follows Tom Pappas’s relationship with Andy Saito, a reclusive retired Toyota guru. Tom and Andy are pulled into a major New York City hospital in crisis. Can they…
Forecasting the Success of Innovation
Henrich Greve
Creators beat managers at predicting an innovation’s success—unless they’re predicting the success of their own work. You probably know someone who owns an Apple Watch, or maybe you own one yourself. Is it a creative product? Well, the multifunction watch was creative the first time it appeared…
Going the Distance on National Tape Measure Day
Dan Sawyer
Whether they’re made of leather or metal, tape measures have been used by people for a long time. The first spring-loaded metal tape measure was invented and patented in England in 1829. Alvin Fellows of New Haven, Connecticut, made improvements to that design, including the locking mechanism that…
Moving From Volume to Value
John Elliott
In 1978, REO Speedwagon released the single “Roll with the Changes,” a song that never fails to give me an adrenaline rush, especially as I run or bike. I think it’s pertinent to what healthcare professionals are experiencing since health reform became law in 2010 and the Centers for Medicare…
On Paying Bills, Marriage, and Alert Systems
Meredith Griffith
When I wrote about automation back in March, I made my husband out to be an automation guru. He certainly is, but what you don’t know about my husband is that, although he loves to automate everything in his life, sometimes he drops the ball. He’s human. On the other hand, instances of hypocrisy…
How Do We Uncouple Global Development From Resource Use?
Heinz Schandl
The world is using its natural resources at an ever-increasing rate. Worldwide, annual extraction of primary materials—biomass, fossil fuels, metal ores, and minerals—tripled between 1970 and 2010. People in the richest countries now consume up to 10 times more resources than those in the poorest…
Lean by Doing
Bruce Hamilton
Early along, as a student of the Toyota Production System (TPS), now referred to as lean, I struggled with some of the concepts and systems. For example, Shigeo Shingo’s claim that a four-hour machine setup could be reduced to less than 10 minutes made me a skeptic. “Perhaps, when Mr. Shingo…
Data-Driven Approach to Pavement Management Lowers Greenhouse Gas Emissions
MIT News
(MIT News: Cambridge, MA) -- The roadway network is an important part of the nation’s transportation system, but it also contributes heavily to greenhouse gas emissions. A paper published this month in the Journal of Cleaner Production by researchers with the MIT Concrete Sustainability Hub (CSHub…
Fix It: Getting Accountability Right
Penguin Random House
(Penguin Random House: New York) -- One factor, more than any other, causes the problems business leaders fear most. Lackluster performance, sinking profits, and unmet stockholder expectations all stem from one source: a massive decline in employee engagement. Rather than blaming employees…
Four Tips for Picking the Perfect Business Partner
Micki Vandeloo
It’s so important for manufacturers to find and cultivate valuable partnerships. They can help manufacturers expand their service or product offerings, make their processes more efficient, and help specify and procure just the right equipment. When manufacturers launch a new product or are making…
Lean Leadership: Go and See for Yourself
Annette Franz
I recently came across the Japanese terms genchi genbutsu and gemba; they’re both key principles of the Toyota Production System, which comprises Toyota’s management philosophy and best practices. Although they’re (lean) management principles and concepts, they apply not only to the employee…
Managing Thrill Seekers
Manfred Kets de Vries
Thrill-seeking employees’ addiction to risk can create havoc in the workplace. Managed correctly, however, their fearlessness can be a great advantage to any organization. People who knew Lawrence Devon, a VP of sales in a large retail group, viewed him as the quintessential sensation seeker—a…
AIMS Metrology Receives Grant To Develop New CMM Technology
AIMS Metrology
(AIMS: Miamisburg, OH) -- Advanced Industrial Measurement Systems (AIMS) Metrology, in collaboration with FASTLANE, an Ohio Manufacturing Extension Partnership affiliate of the University of Dayton Research Institute and SK Mold and Tool, has been awarded a $100,000 grant to develop new vision and…

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