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News and Events
Manufacturing Risk Advisor – May 2018 - May 2018
Mixed Reaction to New Steel and Aluminum Tariffs
Trump administration recently announced a 25 percent tariff on steel and 10
percent tariff on aluminum in order to discourage imports of these materials.
The administration also stated that the tariffs are part of an effort to
increase jobs and protect U.S. businesses from foreign competition.
the tariffs were established to help U.S. businesses, manufacturing experts
believe that they may increase the price of new products and that sales will
likely decrease as these costs are passed onto consumers. Although the tariffs
only apply to imported materials, many U.S. steel and aluminum producers have
raised prices in order to account for increased demand.
Commerce Department also announced an exclusions process for the tariffs. However, businesses must
first prove that they’re unable to obtain the materials from domestic sources.
For more information on the manufacturing industry, call us at (619)
How Blockchain Technology Can Improve Supply
need to rely on a consistent supply chain in order to operate. However, a lack
of transparency between vendors and the use of separate management systems
often leads to confusion, delays and lost business.
solve these problems, many businesses have turned to blockchain technology—a
platform that works by recording a separate record, or “block,” every time a
supply chain progresses. This record is then encrypted and used to verify all
subsequent blocks, which prevents any alterations to records.
are some of the potential benefits of a blockchain recordkeeping system:
- Flexible scalability—Blockchain systems can be
used internally to track projects and other workflows. Multiple organizations
can share the platform to organize large-scale operations.
- Security—Records that use blockchain
are encrypted, verified and shared between all users. As a result, blockchain
is very secure against tampering and cyber attacks.
- Transparency—Advanced sensors and other
tracking technology can update blockchain records to give businesses an ongoing
view of a supply chain without fear of human error or biased reporting.
- Innovation—New services are beginning
to automate complex systems like contractual obligations, employee security
credentials and personal data protection using blockchain technology.
- Detailed analytics—Businesses can track individual products to gather
important information at any time, such as the origin of a dysfunctional
product or a food item’s expiration date.