In manufacturing, there is no one-size-fits-all method for accurate forecasting.

Facing uncertainty and unique production specifications, managers must take several factors into account before forecasting any sourcing or manufacturing needs.

Below, we provide three ways manufacturers can ensure more effective forecasting to reduce costs and optimize production.

This past week more than 50,000 attendees and 1,700 exhibitors met in Chicago for the 35th annual FABTECH Exposition. The “one-stop-shop” event brings together suppliers and the latest industry developments related to metal forming, fabricating, welding and finishing needs.

As one of the largest moving structural parts of a home or business, overhead doors must be built with the appropriate components to reduce the risk of accidents. Overhead door suppliers are held to high safety standards, as well as high cost-saving standards—a dynamic that can be difficult to manage. Fortunately, roll forming provides a fast and affordable way for manufacturers to improve product longevity and safety in one cost-effective solution. 

3D printing is the next industrial revolution. The additive manufacturing industry (also known as 3D printing) grew 26 percent to $5.2 billion in 2015, according to a Forbes breakdown of the Wohlers Report 2016. And the market is showing no signs of slowing down.

Controlling labor costs can be difficult, especially when you’re pressed for time and working with a tight budget.

Labor costs can account for 50 to 70 percent of a company’s entire warehouse budget, which is why it’s no surprise that there is immense pressure to adopt new cost-controlling processes.

The global steel market is currently producing more than 2,300 million metric tons (MT), yet, global demand is only at 1,500 MT. Furthermore, an additional 352 MT capacity is planned for this year. That’s a lot of excess, and it’s affecting U.S. companies, workers and the global steel market. So what’s going on?

Headlines like “How to Keep Your Job When Robots Take Over,” and “Industrial robots will replace manufacturing jobs — and that’s a good thing,” only serve to confuse us about the future state of manufacturing. Are robots in manufacturing something to be excited or worried about?

With fewer internal resources and smaller engineering staffs, many manufacturing companies are now seeking outsourced partners to help them enhance engineering activities so they can concentrate their internal bandwidth on core competencies. 

In an uncertain market, balancing your inventory is critical. And when forecasting is a challenge, you need to place more of a focus on keeping production costs low without sacrificing quality. 

One of the first things to consider is the volume of the project. Whether your project requires a high or low volume run, you have options as to what metal fabrication process will produce the most efficient returns. 

Below we discuss the factors you must weigh when choosing between metal forming processes for the expected production volume.

Managing metal fabrication costs can pose many challenges, such as fluctuating raw material prices, rising energy and transportation costs, and product design scope creep. Among these, avoiding scope creep can prove to be one of the toughest. However, by applying the Design for Manufacturing and Assembly (DFMA) approach, a project has a much better chance of being completed on time with minimal waste.