Although the most recent reports relating to job openings and labor turnover show a 15-year high in job openings across the United States, small business surveys indicate problems finding quality labor. In fact, small businesses show pre-recession levels of unfilled job openings. This mismatch between the skills of available workers and skills that manufacturers demand is what is frequently referred to as the U.S. skills gap.
We are proud to announce that Advance CNC Machining has been named to the Inc. 5000, an exclusive ranking which highlights the nations 5,000 fastest-growing privately held companies. Started in 1982, this prestigious list has become the hallmark of entrepreneurial success.
We have experienced an annual growth in revenue of 46% in the last three years, which ranks us at #4897. We are in great company with 169 other Ohio companies and hundreds of great manufacturers around the country. To see our company’s individual stats, check out Advance CNC Machining’s profile page. You can also view the full Inc. 500|5000 list on Inc.com with options to filter by industry, region, number of employees, along with other criteria.
The 2014 Inc. 5000 is ranked according to percentage revenue growth when comparing 2010 to 2013. To qualify, companies must have been founded and generating revenue by March 31, 2010. They had to be U.S.-based, privately held, for profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2013. The minimum revenue required for 2010 is $100,000; the minimum for 2013 is $2 million.
The team at Advance CNC Machining worked hard to earn our place on this exclusive list of winning companies, and we look forward to making next year’s list and reaching an even higher ranking.
If your business currently uses Google Analytics to track metrics on your website, you may have noticed the infamous “not provided” where you used to see keywords. That is because of Hummingbird, Google’s latest search algorithm, which seeks to provide a more human way to interact with users and provide a direct answer to search inquiries.
In the coming weeks and months the obsession with search rankings for keywords will begin to fade into the past. Essentially Hummingbird has reduced the power of simple keywords as a determining factor when displaying your website during a search. The idea of “long tail” searches is now the focus. Instead of putting weight on the most popular single keywords, Google now focuses on the more infrequent (and more specific) queries which actually make up the majority of searches.
Google Hummingbird is more sophisticated at understanding which pages are answering people’s questions. Your page doesn’t even have to contain the exact question to appear in a search it just has to contain the information that answers the question. Isn’t Google smart?
The bottom line is this: although keywords do still matter in the latest Google search algorithm, keyword stuffing will no longer generate the traffic it might have in the past. Google has come up with an extremely clever algorithm that seeks to first understand the user’s querie then to find a selection of sites that may answer that question. The best thing you can do to increase online visibility is to create human focused content that seeks to answer the questions people are asking when searching online.
Supplier relationship management (SRM) is the specialized practice of strategically planning for and managing relationships with suppliers to maximize the value of that relationship.
When reading about SRM the focus tends to be on workflow, software and “strategy” while the most important part, the relationship, is not being discussed often enough. A relationship, according to Merriam-Webster, is the way in which two or more people or groups of people talk to, behave toward, and deal with each other. This relationship buyers are seeking to strategize is simply an interaction between real live people that can’t always be measured numerically.
It has been said that a business can only be as good as are the suppliers with whom it works. Therefore building a good supplier relationship is almost as important as building a good relationship with your customers. Treating suppliers well produces intangible benefits that can lead to a tangible return.
Scheduling Preferences – A healthy buyer-supplier dynamic leads to preferential treatment when it comes to competitiveness boosters such as advance ordering, stocking arrangements, and production scheduling. Having a preferred customer status increases the responsiveness of your supply chain which in turn improves the availability of products to your customers.
Supply Chain Stability – Investing time to understand how suppliers produce your parts gives you the ability to foresee and prepare for anything that may effect the lifecycle of your components. By communicating effectively and regularly with suppliers, buyers ensure that cost, quality and timeliness of products are all being managed. Higher quality increases customer satisfaction and decreases returns, which adds cash to your bottom line.
Input to Innovation – When your suppliers have bought-in to your success they want nothing more than to see you grow and grow with you. When considering a new design or prototype, using a trusted supplier who has experience not only in your industry, but also with your company’s products, saves time in the product development process and gets your new product to market. Positive long term relationships can lead to your best suppliers improving manufacturing processes and technology that help your company develop competitive advantages and cost savings to beat your rivals.
Financial Considerations – Open lines of communication elicit trust that can lead to more flexible terms such as early payment discounts or extended payment options when additional cash flow could benefit your business. Establishing and maintaining a good payment history means your suppliers will be more likely to reciprocate when and if you need it.
There are many ways to promote a healthy relationship between buyer and supplier. Pay on time or if something unexpected happens, call your suppliers and talk to them. Get to know them with an occasional phone call or visit to their site. Help your suppliers help you by giving them adequate lead times, drawings and target pricing. And keep your suppliers informed about changes in your business including sales volume forecasts, new products and staff changes to make sure they are prepared for the changes in your needs.
In order to truly reap the benefits of supplier relationship management, buyers must establish clear communication paths, mutual understanding and respect between both parties.