At a recent monthly meeting of local executives that we participate in, a recurring theme emerged: a significant loss of talent and skills in manufacturing, challenging to replace with new hires. A primary reason for this talent gap is demographic: the retirement of the Baby Boomer generation. Some sources indicate that 10,000 Baby Boomers reach retirement age daily, though not all are leaving the workforce immediately upon eligibility. Pew Research Center reports that by the end of 2021, nearly 50% of adults over 55 had retired. However, among those aged 55-64, less than 20% had chosen retirement. This specific age group is increasingly impacting manufacturers, many of whom are inadequately prepared in knowledge management to transfer these workers' 40+ years of experience to new recruits or systems. Deloitte Consulting and … [Read more...] about How To Fix The Manufacturing Talent Gap
Industry News
Common Questions When Selling Your Used Hydraulic Presses Online
A hydraulic press can be difficult to sell for those business owners looking to upgrade their old equipment. Due to the general size and weight of a press, increased rigging and shipping costs over the past 2 years, finding a committed buyer can be challenging. However, there are some options available to streamline the process of reselling your hydraulic press. If it’s just sitting in your warehouse taking up space, it’s likely time to sell it. In the following post we’ll answer some common questions for how and where you can sell a hydraulic press. What Should I do Before Selling My Press? It is likely that you are already investigating different methods in which you can easily sell your used hydraulic press, however, it is important to take note of the following tips and advice before selling your hydraulic … [Read more...] about Common Questions When Selling Your Used Hydraulic Presses Online
Common Questions When Selling Used Machinery Online
As technology evolves, manufacturing methods improve, and older machinery needs to be removed from the manufacturing floor to make room for the newer equipment. So do you scrap those machines for around $145 per 2,000 lbs. or do you try and sell them online for a much higher price to someone that needs that machine for their production line? The purchase and sale of used industrial equipment can be complicated, time consuming and draining, therefore, to streamline the process the team at Surplus Record has engineered a world-renowned platform specifically for the purchase and sale of used industrial equipment and machinery. The following article answers commonly asked questions for effectively selling used industrial equipment/machinery and will allow your business to continue operating at its best capacity during periods of … [Read more...] about Common Questions When Selling Used Machinery Online
Common Questions for Selling Used Transformers Online
Finding a committed buyer for a surplus or used electrical transformer is challenging and requires a fair bit of planning and thought. The transformer market is extremely hot right now with plenty of money to be made, but it’s important to find the best avenue on how to market your transformer and ensure you get the biggest bang for your buck when selling a transformer online. With this guide, we’ll answer common questions and provide tips and on where to sell your transformer online and how to get the most money for it. What Should I do Before Selling a Transformer? Take an Inventory Check If you have multiple transformers for sale, make sure you inventory each one and have a copy of the specs for each one as well. Make sure you take note of the type of transformer, such as three phase or single-phase transformers. Is it a … [Read more...] about Common Questions for Selling Used Transformers Online
Rethinking Middle Class Manufacturing Income Inequality in North America
A society in which everyone, especially the middle class, has an opportunity to increase their compensation level at an annual pace that outpaces inflation, is a dream for just about everyone, regardless of political beliefs. This of course requires a robust economy and a balance of trade such that a country can both produce and consume. But recently, the chatter of “income inequality” among commentators and the news media has grown to a fever pitch. It is also a constant rallying cry of the Presidential candidate pool. In a recent ABC news article, Larry Mishel, Distinguished Fellow at the Economic Policy Institute, a left-leaning think tank, puts it bluntly: “Working people have taken it on the chin for many decades. They’ve not been able to get the help of government to be on their sides, the employers are suppressing their … [Read more...] about Rethinking Middle Class Manufacturing Income Inequality in North America
