Supply Chain Article

Shobhendu Prabhakar’s picture

By: Shobhendu Prabhakar

Although remote inspection has been a topic of discussion in the oil and gas industry in the past, it has recently been getting more attention during the Covid-19 pandemic. Many oil and gas operators, as well as engineering, procurement, and construction (EPC) contractors and suppliers have come forward to discuss this topic with an open mind and explore possibilities. Remote inspection is perhaps the need of the hour, but it can also be the future of inspection.

What is remote inspection?

Remote inspection is an alternative to an onsite physical inspection in which the person performs inspection activities remotely using sophisticated technological tools. It’s many benefits include:
• Elimination of personnel risk exposure to hazardous conditions and dangerous tasks in harsh environments
• Global collaboration and optimization of workforce use
• Inspection cost reduction
• Real-time feedback
• Flexibility
• Eco-friendly by helping to reduce overall global carbon footprint

Success factors for remote inspection

Vision
“It’s not enough to be busy, so are the ants. The question is, what are we busy about?
—Henry David Thoreau

Katie Myers’s picture

By: Katie Myers

Freight trucks account for 23 percent of U.S. transportation. Transportation is the No. 1 source of greenhouse gas emissions in America. The country’s freight industry is in no position to ignore its impact on the environment and the greater good.

We can break down the trucking industry’s environmental impact further. Each market segment emits the following amount of carbon emissions every year:
• Truckload (TL): 836 million tons of emissions
• Partials: 722 million tons of emissions
• Less-than truckload (LTL): 342 million tons of emissions

Fortunately, at least one logistics provider is committed to reducing the industry’s carbon footprint. Flock Freight is transforming the $400 billion freight landscape by eliminating inefficiency and waste through green shipping practices.

Emerson Grey’s picture

By: Emerson Grey

It’s Sunday night, and you decide to make a quick run to the grocery store. You grab five bananas—one for each breakfast of the work week. Then, at home, you immediately throw two of the bananas into the trash.

Who would buy fresh food and throw 40 percent of it away? Americans do, on average, every day. This 40 percent represents the overall rate of food waste in the United States. That amount of waste is the same whether you throw the bananas away immediately upon returning from the supermarket or let them brown and attract fruit flies next to the toaster. And the problem isn’t just at the consumer level; farmers, grocers, restaurants, and other businesses where food waste is rampant are huge contributors as well.

Benjamin Kessler’s picture

By: Benjamin Kessler

The full economic impact of the pandemic has yet to be felt. However, it seems beyond dispute that Covid-19 and globalization don’t mix well. Of course, all economic activity is suffering in this worldwide recession—but the global breadth of business may experience an especially acute shrinking effect. To cite just one grim projection, the International Monetary Fund (IMF) is predicting a 12-percent contraction in global trade this year, more than double the already cataclysmic 4.9-percent negative growth prediction for the world economy as a whole.

The proximate causes for this are widely known: the unhappy coincidence of China being both the virus’s apparent country of origin and epicenter of global production for countless multinational corporations, the cessation of global travel, etc. Far less clear, at this stage, is what all this means for global business strategy. Should companies keep a low profile and hope for globalization to rebound, or prepare for hasty repatriation?

Thomas R. Cutler’s picture

By: Thomas R. Cutler

The old picking methods of paper, pick-to-light, and voice-picking are almost impossible when employees must practice social distancing, use PPE (personal protective equipment), and avoid contact that could potentially exacerbate the spread of Covid-19. One viable solution is pick-by-vision, which both reduces potential contamination and dramatically increases productivity.

Even during the pandemic, the issues of product-picking accuracy and productivity does not magically evaporate. A pick-by-vision system simplifies the workflow and makes it more efficient. Benefits include saving time, reducing the error rate, creating a low-fatigue operation, and strict process control to optimize the picking processes.

Douglas S. Thomas’s picture

By: Douglas S. Thomas

The cyber world is relatively new, and unlike other types of assets, cyber-assets are potentially accessible to criminals in far-off locations. This distance provides the criminal with significant protections from getting caught; thus, the risks are low, and with cyber-assets and activities being in the trillions of dollars, the payoff is high.

When we talk about cybercrime, we often focus on the loss of privacy and security. But cybercrime also results in significant economic losses. Yet the data and research on this aspect of cybercrime are unfortunately limited. Data collection often relies on small sample sizes or has other challenges that bring accuracy into question.

Knowledge at Wharton’s picture

By: Knowledge at Wharton

While sales of products like toilet paper, hand sanitizer, and even home appliances have skyrocketed during the coronavirus pandemic, auto sales have experienced the opposite. Through March, April, and May 2020, total vehicle sales in the United States fell to levels not seen since the Great Recession a decade ago. Demand crashed as millions of commuters suddenly found themselves working from home or laid off, and consumers responded predictably to the economic uncertainty by putting off expensive purchases such as new cars, trucks, and SUVs.

But with the lockdowns gradually lifting across all 50 states and life returning to a more normal pace, auto dealers are feeling cautiously optimistic that sales will pick up again and increase throughout the summer months. The bigger question is whether the rest of the year can make up for the springtime slide.

Michael Weinold’s picture

By: Michael Weinold

After nearly 130 years in business and a series of breakthrough innovations that shaped the way we light up our homes, General Electric has sold its lighting division to the U.S.-based market leader in smart homes, Savant, for a reported $250 million (£198 million). Although a licensing agreement means that consumers will continue to see GE-branded light bulbs in stores, the sale marks the end of an era for this quintessential giant of the illumination industry.

GE traces its roots to Thomas Edison’s invention of the electric light bulb in 1879. Since then, GE Lighting and its direct legal predecessors have shaped illumination technology like no other company: building on Edison’s legacy, the company went on to patent the tungsten filament in 1912 and the first practical fluorescent tubes in 1927.

Martin J. Smith’s picture

By: Martin J. Smith

Robert Siegel has peered into the post-Covid-19 future and concluded that anyone hoping for a quick recovery is likely to be disappointed. Which means a great many businesses will fail.

“We can say that with 1,000-percent certainty, and there are many reasons why,” says Siegel, a lecturer in management at Stanford Graduate School of Business.
First, he says, a vaccine almost certainly won’t be widely available for at least a year. In the interim, restaurants, airlines, and hotels are going to be running well below capacity.

“There’ll be fewer jobs, and fewer jobs means less money flowing into the economy,” he says. “It’s impossible for things to bounce right back.”

As a general partner at XSeed Capital and a venture partner at Piva, Siegel researches strategy and innovation in companies of all sizes, with an emphasis on technology. Stanford Business asked a few questions about what good leaders should do if the current pandemic proves to be an extinction event for their firms.

Wendy Stanley’s picture

By: Wendy Stanley

Today’s manufacturers have plenty of software solution options that are meant to enhance their productivity. You may be familiar with each of these software packages. However, if you are not, it is important to understand what each of these software packages are designed to deliver.

Enterprise resource planning (ERP): ERP systems help you to focus on the business aspects of your manufacturing processes. This includes things like supply and demand, scheduling, actual costs, accounting, and more. In essence, ERP tracks the execution of the business aspects of manufacturing. But while an ERP system offers high-level tracking of many business operations, it may have gaps in specific functionality. These gaps are often filled by additional software like PLM, MES, or QMS.

Production life-cycle management (PLM): The PLM system was developed to help track processes and product innovation. As such, it focuses on design, development, and production planning. In other words, PLM focuses on the innovation of your product line.

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