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Managing Risks in Manufacturing Projects: Essentials and Best Practices

Epicflow Blog

Neglecting these risks can lead to project delays, budget overruns, and even project failure, which will negatively impact a manufacturer’s reputation. Therefore, a proactive approach to effective risk management is critical. Let’s take a look at the most essential ones.

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Understanding Product Pricing Models: Choosing the Right Pricing for Your Product

Scrum.org

Set it too high, and you risk alienating potential customers. Ensures all costs are covered, reducing the risk of loss. Cons: Low initial profits and the risk that customers may resist price increases. Allows for profit margins to be sustained as competition increases. Apply a markup to those costs to set the final price.

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Smart Manufacturing: Examples & Benefits

ProjectManager.com

Project management software can be a tool for achieving these goals. ProjectManager is award-winning project management software that delivers real-time data that enhances control and facilitates smart manufacturing. But a smart factory connects all the siloed systems together, such as the people, assets and data management.

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Navigating the Path to Sustainable Business Growth

Wrike

In today’s fast-paced and interconnected world, businesses are constantly looking for ways to achieve sustainable growth. The concept of sustainable business growth goes beyond just increasing profits; it involves finding a balance between economic, environmental, and social responsibilities.

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The Four Actions Framework – For Strategic Project Managers

The Strategic Project Manager

Then it looks at how the framework can be applied in devising strategy, and managing project, programs, and portfolios. The Four Actions Framework, also known as the ERRC framework, is a ‘blue ocean’ strategic management tool introduced in the book “Blue Ocean Strategy” by W. What Is the Four Actions Framework?

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Just-In-Time Manufacturing & Production (JIT): A Quick Guide

ProjectManager.com

Transportation waste. When creating and managing a production schedule, manufacturing teams often use kanban boards. A kanban board is a visual workflow tool that is part of the hybrid work management software ProjectManager. It should all be part of your supply chain management. Wasting time. Processing waste.

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The Ultimate Guide to Crafting a Sustainable Operations Strategy

Wrike

The role of sustainability has evolved beyond being a mere buzzword. A sustainable operations strategy not only helps companies reduce their environmental impact but also drives efficiency, enhances social responsibility, and improves overall economic viability.