Merck will allow drug manufacturers to develop generic versions of its COVID-19 antiviral medication as part of a deal reached with the United Nations-backed Medicines Patent Pool. Clinical trials showed the treatment reduces the risk of severe illness and mortality for patients with COVID-19, and it is undergoing review by the FDA.
Core capital goods orders grew 0.8% in September from August, the seventh consecutive month of gains, according to Commerce Department data. Orders for motor vehicles, commercial aircraft and durable goods dropped.
Boeing posted a third-quarter loss of $132 million on revenue of $15.28 billion, with both figures improving from a year earlier. Overall demand is recovering despite slow progress in delivering more 787 Dreamliner jets, the company said.
General Motors reported third-quarter revenue of $26.8 billion and net income of $2.2 billion, both declining from a year ago along with US-only sales, which were down 13%. CEO Mary Barra cited the chip shortage, higher costs and fewer wholesale shipments to dealers.
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PepsiCo aims to boost its digital and artificial intelligence-driven capabilities, such as predictive analytics for sales and inventory, by opening its first digital hubs in Barcelona, Spain, and Dallas, with more to follow. "PepsiCo's digital hubs will greatly influence the way the organization reinvents planning, making, moving, selling and delivering products," according to a company statement.
Supply chain disruptions are popping up regularly and in many places, and resolving each issue "really is akin to playing Whac-A-Mole," says General Electric CEO Larry Culp. Issues are being addressed, "but almost without fail, the next day, a commodity, a supplier, a logistics provider that we thought was good for the next six weeks or the next six months offers up a revision to that outlook," Culp says.
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Technology powered by industrial internet of things capabilities gives welders real-time visual data and connects workers with operations, enabling faster data-driven decisions that can improve quality and productivity, writes Gary Abke of Lincoln Electric. "By capturing this real-time, at-the-weld data, you get full visibility to key productivity metrics such as arc-on time, wire deposition rates, operating factor, and overall equipment effectiveness," Abke writes.
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Tyson Foods has achieved a 96% employee vaccination rate with nearly 60,000 employees receiving a COVID-19 vaccine since the company set its Nov. 1 vaccination deadline in early August. "We've seen a significant decline in the number of active cases, companywide," wrote CEO Donnie King in a letter to employees.
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Phillips is partnered with hundreds of Haas Technical Education Centers to train students for manufacturing jobs and get them experience on Haas equipment. Other workforce development efforts at Phillips in the Be Pro Be Proud educational program and Project MFG, which organizes school-based competitions in advanced manufacturing.
Shoptalk Returns to Vegas This March! Shoptalk brings together 8,000+ professionals from the biggest brands like e.l.f. Beauty, Maui Jim, Olaplex & more. Qualified retailers and brands can attend for free! Get your pass now.
On Friday, Oct. 29, from noon to 1 p.m. ET, The Manufacturing Institute will host a virtual event, sponsored by Union Pacific, focused on recruiting and advancing women veterans and military spouses in the manufacturing and transportation industries. Speakers will engage in a conversation focused on finding opportunities and navigating challenges, as well as discuss best practices to better reach and retain talent from the military community. Register here.
On Friday, Oct. 29, from noon to 1 p.m. ET, join The Manufacturing Institute for the latest in its D&I Roundtable series. This discussion will focus on changing the perception of manufacturing for diverse youth. Hear from leaders in this space and walk away with tactics to recruit our future workforce. Register here.