Imagine a ship at sea, at risk of sinking in a tempest. Is it better to empower the crew to do whatever it takes to save the ship, or should every decision be made by the captain and top officers? Similarly, what should the optimal form of firm organization be during a severe downturn? The need to...
Lockout/tagout (LOTO) procedures are common in industrial and manufacturing environments. Despite this, failure to adequately train employees on LOTO procedures continues to be one of the U.S. Occupational Health and Safety Administration’s (OSHA) top 10 most frequently cited violations during...
To many, the world of production and manufacturing is a mystery. The general public often simply picks up their goods from the store or orders them online with little thought given to what engineering efforts went into developing those products, or what it takes to create them.
The realization of...
For the past decade, policymakers and nongovernmental organizations have pushed for greater transparency in supply chains, with the goal of encouraging more responsible sourcing practices. The Dodd-Frank Act, for example, required firms to disclose their suppliers’ involvement with any “conflict...
