Contents INTRODUCTION    3 CHAPTER 1 – The Challenge    5 CHAPTER 2 – Key Processes    6 CHAPTER 3 – What You Need To Know    7 CHAPTER 4 – The Cash Flow Insights    9 CHAPTER 5 – Cash Flow Measurable Goals    12 CHAPTER 6 – Consistent Cash Flow Is The Goal    14 INTRODUCTION In 2016 I was auditing an equipment manufacturing company. During the audit of the management review process I noticed there was a problem with Cash Flow to the amount of $460,000. There was a great deal of time spent by management trying to come up with a solution to the short fall. It appeared that there was [...]

The trends for Mechanical Engineers is changing over the next 10 years.  This article from ThomasNet describes where ME's, manufacturing and engineering design are headed. #MechanicalEngineering #IndustrialEngineering #ElectricalEngineering #ContinuousImprovement #Robotics #Biomechatronics #MedicalDevices #Nanotechnology #Industrial #Electrical #AI #ISO13485      

Change management is a critical component for business success. I have observed over the past 30 years as a Lead Auditor that a great percentage of companies with production errors are caused by a lack of a clear change management policy. The current versions of all the ISO Quality Management System standards require change to be controlled.  This article describes an interesting approach to implement change management in your business. Thomasnet.com Article In today’s increasingly dynamic and ever-changing market, organizational change isn’t only to be expected; it’s essential. However, change isn’t always easy, and it’s important to understand how different employees [...]

A ISO 9001:2015 Quality Management System (QMS) is a quality management standard- and is recognized as the most fundamental guide for effective business management. This standard is designed to sustain business success in two ways: Continuous Improvement and effective Communications. Let’s start with a briefing of the basics. The 8 foundational principles of ISO 9001:2015 are: Customer Focus, Leadership, Engagement of People, Process Approach, Improvement, Evidence based Decision Making, and Relationship Management. The 7 main sections of the ISO 9001:2015 QMS Requirements are Organizational Context, Leadership, Planning, Support, Operation, Performance Evaluation, and Continual Improvement. And this standard employs the Process Approach, [...]

Continuous Improvement at a process & system level is the single most important factor to long-term business success. The writers of the 2015 version of ISO 9001 understood the value of the ISO Quality Management System standards for business improvement by adding this requirement in clause 5.1.1 c. Ensuring the integration of the quality management system requirements into the organization's business processes. All processes from the initial contact with the customer to the last contact have a huge impact on long-term business success. Unfortunately, not all companies embraced this requirement and Registrar auditors are not likely to bring it up unless [...]

Choice Equipment and CPI Systems have partnered to provide small electronics manufacturers with affordable business solutions and free on-line tools. With value added services, like more choices in refurbed and warrantied SMT equipment, along with our Affordable ISO 9001 Service, we are now hearing from a lot more of you! Thanks for contacting us. Jim      CHOICE EQUIPMENT Johnson City TN & Sanford FLjimatchoice@gmail.com423-930-6644  FEATURED THIS MONTH  Juki 3020/FX3 Pkg, Great Deal! Juki 2080L, 2011 Juki FX-3RAL 2012  Juki FX-3RAXL, 2016 Juki FX-3L, 2010  BTU Pyramax 98A, 2010 ASM D1i Fine Pitch, 2014 TRI Test Research TR7007 SPI, 2010 Panasonic 402L, 2006, [...]

Top Business Issues, plus their Effects on Profit I'd like to thank everyone who took the time to complete this survey from a previous communication! Let's discuss the results and connect the issues to expenses, income, and profitability.  To stay in business, all businesses need to be profitable over time. Investopedia is a financial education resource and states: "In April 2018, the average profit margin for companies in the electronics sector was approximately 6.7%." That means that every dollar saved in expenses affects profit the same as an extra $15 of income. Here is information about the average effect of ISO 9001 on profit [...]

Overall Equipment Effectiveness is a good measure to understand the availability, performance, and quality output of a piece of equipment - and to satisfy requirements of an ISO Quality Management System. ISO 9001:2015 Clause 7.1.5.1 states: "The organization shall ensure that the resources provided... are maintained to ensure their continuing fitness for their purpose. The organization shall retain appropriate documented information as evidence of fitness for purpose of the monitoring and measurement resources." https://www.linkedin.com/feed/update/urn:li:activity:6567408652431486976

Many businesses use a form of SWOT analysis to assess risks and opportunities in planning sessions. A FMEA-Failure Modes & Effects Analysis allows process owners to identify and mitigate risks within and between key business processes. Risk-based thinking, the process approach, and the Plan-Do-Check-Act (PDCA) cycle are the approaches and methods to plan and adjust for risk and opportunity and to make adjustments as needed in key processes and products or services. ISO 9001:2015 introduction states "The process approach enables an organization to plan its processes and their interactions." It goes on to say "Risk-based thinking" enables an organization to determine [...]