Shale gas producers should shift their focus from volume to value if they want to satisfy investors seeking free cash flow, write Jeremy Brown, Florian Christ and Tom Grace of McKinsey. Well designs and initial flow rates need to be reconsidered, and forecasts need to be more accurate, they write.
General Electric will freeze a US pension plan that covers about 20,000 salaried workers and a supplementary pension plan with about 700 participants. The freeze is part of GE's efforts to cut its pension deficit by as much as $8 billion and its industrial net debt by as much as $6 billion.
Dow used the breakup for DowDuPont into three businesses as an opportunity to place a renewed emphasis on customer service, says executive Jennifer Zamora. It made customer-centricity the fourth pillar of its operations, outlined three principles for gathering feedback and making improvements, added an in-house tool to help employees comply, and analyzed its customers and their needs according to region.
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Manufacturers stand to benefit from adopting 5G mobile technology, but they will also have to address increased internet of things security concerns, writes Maria Korolov. She lists seven things manufacturers will need to prepare for, including higher volumes of network traffic and larger DDoS attacks.
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Campbell's has continued to buy tomatoes directly from growers and process them even as competitors have adopted more complex supply chains. Executives say the vertical integration gives Campbell's flexibility and more control over its products.
Developing populations and supply chains, technology advances and changes in manufacturing costs are among the factors influencing a shift to regional manufacturing and distribution, write David Wijeratne and Jeremy Grant. "Rather than shipping goods around the world from cheap-labor hubs, companies manufacture goods for Asian customers in Asia, for European customers in Central Europe, and for North American customers in Latin America," they argue.
Making money from products-as-a-service and optimizing production operations are priorities for using the industrial internet of things, according to a Software AG survey. However, manufacturers reported having problems with predictive analytics, condition-based rules and the integration of IT and operational technology.
About 75 high-school students in Missouri recently toured manufacturers to learn about potential careers. Students visited Danuser Machine Co., Henderson Truck Equipment, Mid-America Precast and PFSbrands as part of a Manufacturing Day event, now in its fourth year.