Top 10 Thomas Insights articles of 2021
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Let’s take a look at 10 of the most popular articles from Thomas Insights over the past year:
For decades, companies have used corporate social responsibility (CSR) to give back to society while strengthening their brand reputation. This management concept as we know it today is primarily a product of the 20th century, taking shape in the early 1950s. However, the history of corporate social responsibility spans over two centuries. Although there has been a recent spike in the popularity of CSR, the evidence of companies’ concern for society can be traced to practices stemming from the industrial revolution. Between the mid to late 1800s, industrialists became increasingly concerned about the well-being of workers and productivity. By the early 2000s, CSR had become a core strategy for many organizations, with multi-million dollar companies, such as Wells Fargo, Coca-Cola, Walt Disney, and Pfizer, incorporating this concept into their business processes.
Personal Protective Equipment (PPE) refers to anything an employee wears that protects them from injury or illness caused by hazards in the workplace. The Occupational Safety and Health Administration (OSHA) declares that employers are responsible for providing any necessary PPE in accordance with OSHA standards. This includes performing a risk assessment, identifying and providing appropriate PPE, training employees in the use of that PPE, and examining and replacing damaged equipment if necessary. This article covers a list of essential PPE that might be required within a manufacturing organization.
The bottom of the Challenger Deep at the southern end of the crescent-shaped Mariana Trench is not the kind of place most people would choose to vacation. At 35,853 feet at its deepest point, it’s cold 34oF, in total darkness, and exerts a pressure more than 1,071 times that of sea level. Yet the deepest place in the world exerts a strong attraction for explorers, similar in many ways to the magnetic attraction of Mount Everest. Speaking of which, if you dropped Everest into the Challenger Deep, its top would be submerged for over 2 km. After Piccard and Walsh’s record-breaking descent to the bottom of the Challenger Deep, many other famous expeditions followed as well, including those of filmmaker James Cameron and former NASA astronaut Kathryn Sullivan, who became the first woman to reach the deepest point in the ocean and the first person to travel in both space and the Challenger Deep.
Five years after plans were first unveiled, a major rifle ammunition manufacturing complex is officially under construction in West Virginia. Ranger Scientific announced on May 31 that the company has launched two different production facility projects. One will renovate the old high school grounds in Montgomery, West Virginia, while the other will establish a new facility near Dickinson, West Virginia. Ranger Scientific mass produces ready-to-use, harmonically-tuned rifle ammunition that the company promotes as the world’s most accurate ammunition for U.S. military and consumer applications. In a press releaseRanger Scientific did not provide a planned timeline for completion of either project, but said it has invested $ 20 million in the combined effort.
Objects in space are about to hit Earth all the time. Small asteroids pass between the Moon and Earth’s orbit several times a month, while meteorites virtually strike Earth’s atmosphere (and explode) everyday. NASA believes that on Earth, the risk of impact from a meteor or a major asteroid is extremely unlikely. A recent study by Bennu, the asteroid widely believed to be the most likely to strike Earth, showed a 1 in 1,750 chance of a future collision over the next three centuries. NASA is nevertheless prepared: “There are a few methods that NASA is studying to deflect an asteroid on a path to impact the Earth,” writes the organization. Ideally, we will continue to take advantage of meteors and asteroids from a distance.
Justin Roff-Marsh, author of The Machine: a radical approach to the conception of the sales function, writes about the importance of not making income the responsibility of your sales department as this will hamper the growth of an organization. He advises that if you want your organization to grow, operations should be responsible for revenue and your sales department should focus exclusively on new business. Sellers should be responsible for winning new customer transactions and new product category transactions for existing customers. They should have no involvement whatsoever in dealing with you and your losses. In most organizations, the total invoice value of new business transactions is less than the normal change in total repeat transactions. In other words, unless you spend new trading dollars on your relationships, your growth signal will be lost in the noise.
According to the latest Thomas Report on the State of Manufacturing in North America 2021, 83% of manufacturers plan to add North American suppliers to their supply chains within a year, a significant increase from 54% in March 2020. Thomas’ groundbreaking report leverages qualitative intelligence and unique quantitative of the platform on production and supply trends thanks to its Industrial investigation panel and anonymized and aggregated data of the 1.6 million monthly industrial buyers of Thomasnet.comÂ®. As the report reveals many changes in national sourcing trends and supply chain demands, the main takeaway is the industry’s growing priority to relocation in the wake of the COVID-pandemic. 19. According to Thomas’ research, manufacturers add an average of 11 suppliers (n = 538) to their supply chains each year. If 83% of 579,811 manufacturers in the US, attracting a new supplier (single contract) at an average of $ 921,247 per contract (n = 288) represents a potential injection of $ 443 billion into the US economy.
The terms duty and tariff are often used interchangeably, but there are subtle differences. Both are a form of tax imposed by the government and payable on imports and exports. Simply put, homework is Indirect taxes imposed on the consumer. Governments charge for specific goods and services that are manufactured and sold in their country, as well as imported goods. Customs duties are a direct tax applied by a government on goods and services imported or exported to another country. The most important distinction between the two types of taxes is that a duty is charged to the consumer for specific products, whether they are domestically produced, imported or exported goods and services. Tariffs, on the other hand, are only levied on imports and exports in order to protect domestic production and restrict the trade of a particular country, as well as generate revenue for the government. Although tariffs and duty rates vary across the world, free trade agreements have served to facilitate the management and control of international trade by applying fixed and agreed values.
Earlier this year, the US Air Force tacitly admitted that with a cost of around $ 100 million per plane and double-digit project delays, the F-35 was one of their most publicized failures. in the history of military procurement. Experts say the concept was flawed from the start. Rather than designing a lightweight stealth fighter jet that performs well, the F-35 is packed with high end – often not proven – technology that requires a lot of maintenance. “They tried to get the F-35 to do too much,” said Dan Grazier, analyst with Project on Government Oversight in Washington, DC. Forbes. In addition, the procurement process had critical flaws, as a 60 minutes report discovered in 2014. The current vision for overcoming the shortcomings of the F-35 is to create a “high-low mix of expensive ‘fifth-generation’ F-22 and F-35s and inexpensive ‘fifth-generation’ jets. ,” according to Forbes. But there is no guarantee that a new fighter jet project will be able to avoid the same pitfalls as the original F-35 project.
The SpaceX spacecraft, once operational, will become the most powerful super-heavy vehicle that has ever existed. Outclassing the very capacity of the mighty Saturn V, Starship will deliver considerably more payload in space for only a fraction of the cost of competing rockets. Here are five facts about Starship that set it apart from other rocket vehicles.
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