In October, SME announced the formation of their Smart Manufacturing Executive Council, GM profit rises on vehicle sales, businesses think about proactive planning for predictable tool failure, and AM aims to improve sustainability across the supply chain. Continue reading our news round-up to learn more about what’s happening in the industry this month.

SME Announced the Formation of its Smart Manufacturing Executive Council

Recognizing the urgent need to accelerate the adoption of Smart Manufacturing in the U.S., CESMII, (the Smart Manufacturing Institute) and SME (the Society of Manufacturing Engineers) announced the official launch of the Smart Manufacturing Executive Council (SMEC). Described as “a national think tank of smart manufacturing leaders,” the Smart Manufacturing Executive Council has been created to engage business and technology executives, thought leaders and visionaries advocating for the transformation of the U.S. manufacturing ecosystem.

For more information on what the Smart Manufacturing Executive Council will focus on click here.

GM’s Profit Rises on Vehicle Sales

General Motors Co. reported a higher third-quarter profit on increased revenue bolstered by more truck sales. GM posted that their revenue for the quarter soared to $41.9 billion with a quarterly profit of $3.3 billion.

Click here to read the full article on GM’s affirmed full-year forecast for a profit.

Businesses Proactively Plan for Predictable Tool Failure

Tool life is often a top priority when working in a high-production environment. To some degree, it does not matter if you have the fastest or the best tool; it is more important to have repeatability. While it is unrealistic to hit 100% repeatability, it is key to keep as many factors as you can the same from job to job and part to part.

Establishing repeatability makes it easier to prevent catastrophic failure that will damage the workpiece and tooling, which becomes much more expensive than just taking the tool out early even if that is before it is completely worn out. It is better to change an insert out ahead of time instead of pushing it to max life and potentially damaging components of the tool or components of the machine—causing more setup time and more machine downtime.

Given the benefits that establishing a controlled process can provide, follow the link here for some tips to help you better achieve this.

AM Aims to Improve Sustainability Across the Supply Chain

Individuals and businesses are becoming increasingly aware of the importance of sustainability, making it a bigger part of our daily lives. This now extends to the production sector, driven forward by end-user demands and new industry regulations.

Click here to learn how additive manufacturing (AM) can offer an efficient and environmentally friendly solution for production and supply chains.

Contact Custom Tool & Grinding

We hope you enjoyed our October roundup! Now learn more about how we can help you with your tools, request a quote from us here.