The Manufacturing Alliance of Philadelphia (MAP)
The Manufacturing Alliance of Philadelphia (MAP) was created to give voice to issues affecting manufacturing companies here in the Delaware Valley.
Philadelphia, Chester, Berks, Bucks, and Montgomery counties.
What Works to Retain Staff: Purdue Study Finds Commonalities in Indiana Manufacturers with Low Turnover
The average turnover is 40% a year, but 5% of companies have rates at or below 15%.Managers often cite pay as the leading reason for employee-leaving. It is not. The costs of staff turnover at 40% levels is not just financial. Indirect costs are significant in high staff turnover environments; working staff are disrupted and disappointed, with possible effects on morale, safety and quality. Without quantifying these “costs,” we cannot adequately fix them.
Knowing which products are selling below their variable cost is critical to improving profitability. But there may be a strategic reason to continue selling the unprofitable products. The key is to know the “why” and make informed decisions to ensure the loss leaders aren’t loss bleeders.
We lose money on every sale but we make up for it in volume” is an old and tired manufacturing joke. And it is no laughing matter if it is your company. Knowing your variable costs and gross margin is necessary, but not sufficient. Knowing your gross profit by SKU is a key to uncovering hidden profits within your business.
Bob Rosania talks about the Manufacturing Alliance of Philadelphia
Mike Savage talks about the Manufacturing Alliance of Philadelphia
Pete Windle talks about the Manufacturing Alliance of Philadelphia