VMEC
In September 2020, the Vermont Legislature allocated $2.5 million of federal CARES Act funding for small business technical support in Act 137. Governor Scott and the Agency of Commerce and Community Development announced that the RDCs of Vermont (Regional Development Corporations) would be tasked with deploying $1,400,000 in technical assistance funding for small businesses across […]
Like their counterparts around the country, Vermont manufacturers found themselves facing a long list of challenges as Coronavirus-related shutdowns pushed clients and suppliers into dramatically different new modes of operation last year. Many turned to new product and service offerings, leveraging their capabilities in creative ways to offset the many and varied challenges that presented […]
When most people think of lean processes, the prevailing attitude is that the goal is to optimize things in a step-by-step approach. The result that companies using lean methods can look forward to is incremental improvements brought about by the elimination of waste. Individuals who stick with this definition often assert that lean principles oppose […]
If You Fail to Plan… We’ve all heard the old maxim about the need to plan, and no one doubts the importance of having a well-formed Strategic Plan. The Harvard Business Review, however, finds that just 11% of executives are happy with their strategic planning process. And as with many other aspects of business, the […]
What is Innovation Engineering? Businesses spend a tremendous amount of time and energy in pursuit of innovation—the transformative changes that enable growth through new products and ideas. The challenge, in many cases, is that like many creative endeavors, innovation can entail a bit of a “lightning in a bottle” unpredictability. We rarely know when innovative […]
Many small/medium manufacturers face the question of exporting at some point in their growth. Some companies may suddenly become “accidental exporters” through their online presence, but for others, the pull of overseas opportunities can become strong over time. Done properly, exporters can transcend the limitations of the domestic market, seize the potential for profitable new […]
A cyberattack occurs every 39 seconds somewhere in the world. It is well known that our adversaries use vulnerabilities in the industrial base supply chain, from top tier to lower tier suppliers, to penetrate unprotected systems. While small manufacturers may believe they are safe from these attacks, believing they strike more at Prime contractors, nothing […]
The National Association of Manufacturers 2018 Third Quarter Manufacturers Outlook Survey is in. And the results, unsurprisingly, are mixed. Optimism registered at 93.9%– the highest year average in history. However, 73.2% of manufacturers cited the inability to find and attract a quality workforce as their top challenge. In fact, because of this workforce crisis, manufacturers […]
What is Cost Reduction? Cost reduction, as related to any business, is just as it sounds. The definition of cost reduction, according to Wikipedia is: “The process used by companies to reduce their costs and increase their profits. Depending on a company’s services or product, the strategies can vary.” (Wikipedia) While the Wikipedia definition is […]
We’re all familiar with Smokey the Bear and the “Only You Can Prevent Wildfires” slogan. In 2015, Smokey got an update and the new “Receive a Bear Hug” ads ran nationwide. In the ad, Smokey runs out of the woods and gives a big bearhug to a camper for properly checking camp fire embers. The […]