Making Chips Podcast for Manufacturing Leaders

In this episode, Jim and I discuss how you can receive grant money to expand your manufacturing business. We specifically discuss the Federal TAAF Grant that Jim was awarded, the process that he went through, the reimbursed expenses and how he coupled two programs together. Trade Adjustment Assistance for Firms MakingChips.com/TAAF In our Manufacturing News segment, we discuss an article in the LA Times that states manufacturing is slower to grow in California than any other state in the USA. The main factor for slow growth in California is the cost of doing business in the state. We have 2 questions for you: 1. Have you been successful receiving grant money? If so, please share your story in the comments for this episode. 2. Would you like us to share more information associated with grant money, so you can take advantage of this under-utilized resource?

Roberts Swiss, a 60 year old manufacturer of Precision Swiss Machined Parts. Fernando gives actionable advise to others who are not born into privilege and do not have a lot of resources, but desire to seek advancement starting from the ground floor. Fernando attributes his career success to: • Taking advantage of learning from every possible resource - including the people who stood in his way • Tackling large projects • Questioning the WHY behind business processes • Working hard and doing the right thing • Being the conduit of change • Realizing challenges as opportunities for growth • Bringing a culture of excellence • Grace In our Manufacturing News segment, we discuss an article that stated US Stocks started the year mixed because manufacturing growth stalled in December, which proves that manufacturing makes a huge difference to the US economy. #ManufacturingMatters

When should the owners of a business start succession planning? NOW! In our Manufacturing News segment, we discuss an article stating that slow manufacturing growth doesn't matter to the economy.

Should you implement Robotics into your company? In this episode we interview Brian Panek from Panek Precision about robotics. We discuss the basics of robotics, how it has changed his manufacturing and the culture of his company. PanekPrecision.com LinkedIn.com/in/brianpanek Universal Robots In our Manufacturing News segment, we discuss that MakingChips has been featured on iTunes New & Noteworthy, which is a huge accomplishment. We would like to thank our listeners for their feedback and support.

Who is in your network? In this episode we discuss the power of networking and how to properly cultivate relationships in your industry. Join MakingChips at the 3rd Annual Crain's Midwest Manufacturers Summit. Crain's Manufacturing Summit 1. Networking is a long term process 2. Should you stalk them on LinkedIn? 3. When you think that it is time for the hard sell…wait. 4. Ask for an introduction. 5. Stay within a particular circle. 6. Don't forget follow up, but don't hard sell. 7. Offer free advise. 8. Look for commonality. 9. Collect business cards. 10. Connect on LinkedIn. 11. Give before you expect to receive. In our Manufacturing News segment, we discuss Forbes 30 under 30 in Manufacturing. In our Metalworking Tools segment, we discuss Lenox Circtech Precision Circular Saw Blades. More manufacturing companies are replacing band saw applications with with machines that use cermet tipped circular saw blades.

What is the right method for getting paid for your work? This is a subject that both Jim and I were reluctant to talk about; however, our goal is to bring the Metalworking Nation together as a community to talk about topics that people are afraid to bring up. What are your typical terms? Do you offer payment via credit card? Should you require a credit card for initial orders? Do you have a defined credit terms policy? If you are agreeing to an OEM contract that stipulates 90-120 day terms, are you considering the financing rate and including that in the price that you charge for the product or service? "Somebody has to pay it!" What is our approach to collecting? When do "put on the heat"? Do you use collection agencies? In our Manufacturing News segment, we discuss Workshops for Warriors, a non-profit that transitions veterans into civilian jobs with a focus on manufacturing training. In our Metalworking Tools segment, we discuss Z-Cut, a line of USA Made standard and highperformance end mills, drills and taps.

Years ago, most businesses did not have a vision or a mission for their companies. It was simply a matter of "blocking and tackling" your team through wins as the company grew (you buy more machines as the customers come). Now, most businesses are caught up in the Wall Street mindset that if you are not growing, you are dying. Should every manufacturing company have this mindset or can we do better? Do you have at least a loose vision or mission for your company? Where do you see the company in 5 years or in 10 years? How do you define staying where you are? - # of machines, sales, profit, employees, customers? for JZ, a couple metrics: sales, profit, # of vending integration systems that we are serving, customer retention Do prospective customers look at your business in terms of size and gage whether they want to do business with you? The wrong ways to grow 1. Using supplier credit to grow and not having a financing plan for growth • Instead: Have a financing plan for growth, talk to your bank, and learn about the proper way to borrow money in order to achieve your goals. 2. Taking on low margin business to build your business or to just get in the door • What happens? • Can't make money on the job • Late on the job ! • Quality is subpar • Can't do the job efficiently End-users have become smarter about this and many are now working with their existing suppliers to find out where they can partner and be strategic to remove costs out of the manufacturing processes (another good subject for the future). In our Manufacturing News segment, we discuss women in manufacturing (again). There is a push in the Milwaukee market for welders. A 24 year old single mother with no intention to get into manufacturing is pitched to pursue a manufacturing career. "This is so cool, I am actually creating my own art." She is enjoying what she is creating, making good money and able to support her family. In our Metalworking Tools segment, we discuss the Widia Victory versus Value lines and why a company would utilize this model.

The image is that manufacturing is a dirty, physical, turning-cranks, labor intensive job, but the facts is that the machining industry is one of the most technological forward and innovative industries. In this seventh episode, Jim and I discuss how the industry has changed along with machine and software technology. Jim tells an interesting stories about when his dad ran the shop and one of his machinist screwed up a part, which you can't do nowadays and I throw out how old I was when Jim started in the industry. More high schools are teaching manufacturing skills. In our Manufacturing News segment, we discuss how Wheeling High School (Wheeling, IL) has been turning out hire-ready manufacturing students for the last six years. Part of Germany's education model is that a 15 year old will enter into an internship whereby manufacturing is one of the top choices. In our Metalworking Tools segment, we discuss the advantages of thread milling: control the size, breakage, tool life.

Are international standards important for your company or your partners? In this sixth episode, Jim and I discuss standards and the impact of ISO on his company. We discuss the specific standards of ISO 9001 (Quality Management), ISO 14001 (Environmental Management) & OHSAS 18001 (Health & Safety). Fun Facts: ISO, the International Organization of Standards, has 3 official languages (English, French & Russian). ISO is derived from the Greek isos, meaning equal. The International Organization for Standards is headquartered in Geneva, Switzerland and is associated with the United Nations. Should you hire an outside consultant to outline a plan and help you along the process? What can ISO do for your business culture? Every company is going to be different, but Jim discusses his annual cost of ISO renewal and the amount of time that his staff spends on ISO per week. How does the ISO champion interact with other employees? In our Manufacturing News segment, we discuss the Multi Jet Fusion Printer, a 3D printer from HP. In our Metalworking Tools segment, we discuss straight flute reamers versus spiral flute reamers and left hand versus right hand spiral flute reamers.

Is there a plan in place at your company if a top employee, such as the president or owner dies? Episode five is the first in a new interview format on MakingChips. In this fifth episode, we talk to Stacey Bales about her story of taking over as President of Bales Mold Service (recently rebranded as Bales Metal Surface Solutions). The first reaction from the bank is "How are we going to liquidate?" Who takes over when multiple family members are involved and no succession plan has been setup? Major issues arise, such as trust among family members - when there is no succession plan, family members will fight out their new roles instead of moving into the proper roles right away. The family needs to establish that they are all on the same team and not out for themselves. "Be very transparent with the person that you believe is coming up." The owner of every manufacturing company should be transparent about how they want to handle the succession of their company and have a vision about where they want the company to go. Stacey Bales is the 2nd generation owner and President of Bales Metal Surface Solutions. Bales provides engineered coating and finishes to mold makers and OEMs. They have locations in Illinois and Texas. In addition, Stacey is on the Board of Directors of the TMA (Technology and Manufacturing Association) and President of AESF (American Electro & Surface Finishers). In our Manufacturing News segment, we discuss a news article about the City of Atlanta. They are short on manufacturing skilled labor resulting in six figure incomes for certain positions. In our Metalworking Tools segment, we discuss Southwestern Industries (CNC Technology for Small Lot Machining). Southwestern machines are intended to produce small lots of parts, so you can go from programming to producing parts much quicker than traditional CNC lathes and mills with easy to use ProtoTRAK programming.