How Collateral Value Can Influence Your Loan Interest Rate
A lot of people don’t realize just how many different factors go into determining financing rates related to items like printing presses, vertical mills, industrial planers and other types of commercial industrial equipment. The business and owner’s/guarantor’s credit score plays a role in determining your rates, yes – but that’s just one small part of […]Read More
Tips for Truckers: Managing Stress On The Road
A commute to work can be stressful—more so if your commute is your job. Dealing with stop-and-go traffic, unpredictable weather, irresponsible and dangerous drivers, maintenance and repair concerns, and managing a delivery schedule can compound into a nauseating career indeed. Fortunately, you don’t face these challenges alone. We’ve assembled a handful of tips to help […]Read More
Adopt Sustainable Manufacturing Practices To Drive Profits
It’s a common misconception to think that profitability will be higher when environmental concerns are minimized. In fact, in 2010, The World Economic Forum and Boston Consulting Group joined forces to identify and compare companies with the most effective sustainability practices, ranging from $25M to over $5B valuation. What they found from their study of […]Read More
Machine Tool Crashes: Big Problem, Bigger Solutions
The most crucial part of your CNC machine is not the cutter. It’s not the lathe or the tools or any of the parts you can buy online. The most crucial part of any CNC machine is the programmer. It’s also the part that has the potential to cause the most problems! Even the best […]Read More
3 Simple Steps To Improving Your Business Credit
Your business has strong cash flow, a strong balance sheet, and strong contracts from customers ensuring a solid future, do you still need to worry about establishing and maintaining good business credit? In short, yes. Credit is used for more than simply applying for a loan or credit line, many vendors and prospective customers in a […]Read More
Aspiring To Be A Leading Manufacturer? Uptime Is Key
We all know that in manufacturing, when the machines aren’t running they’re not making money. We spend a healthy portion of human resource time on selling our services and products to fill the shifts, and another portion on repairing and maintaining equipment. Wouldn’t it be great to spend less time fixing and more time running […]Read More
Construction Equipment Auctions: 4 Successful Bidding Tips
From a simple nod to a raised sign, to a wave of the hand, auction bidding is nuanced with numerous gestures that are often too subtle for a first-time auction attender to capture. One moment you’re holding the winning bid the next you’re three bids behind. Auctions are fast-paced and can be gut-wrenching or exhilarating […]Read More
How IoT is Shaping the Industrial Equipment Market
For decades we’ve seen incremental innovations and improvements to manufacturing and machining equipment creating higher precision, faster production, and increased reliability. This is anticipated progress. What wasn’t expected was the disruptor of Internet of Things (IoT) becoming a reality and promising a leap forward in manufacturing efficiency and cost-effective maintenance. What is Internet of Things? Internet of Things, […]Read More
New OTR Owner/Operator? Project Your Profitability Like A Veteran
Starting and running your own business is never a simple undertaking, but those who run their own trucking businesses have their own unique set of challenges. Several variables are considered when calculating the expected business operating costs. On average, an owner-operator trucking business needs to bring in $180,000 each year just to break even, which comes […]Read More
How Technology Is Shaping The Logistics Industry
We’ve examined the impact technology is having in the trucking industry in the past, though today we’re going to take a close look directly at it’s impact on the logistics firm, both in-house and in concert with 3rd-party carriers. Keep in mind that many of these technologies will be applicable to the entire supply chain […]Read More
Prepare Your Commercial Trucks for Winter
North America is a beautiful continent to explore throughout the year—with 4 distinct seasons through much of the northern regions. The gorgeous reds, oranges, and golds of Fall will swiftly change to bare trees and ice and snow up north. Fortunately, we have time to plow through the winter maintenance checklist. If you don’t have […]Read More
What’s Next for the Economy?
Traditional forms of financing will be limited in 2021, in light of the current economic situation and how it has been impacted by the COVID-19 pandemic. Much of what you will be able to borrow will have to do with your financial performance in 2020. So, what’s next for the economy? Where can you turn, […]Read More
Moving Manufacturing Forward in the Midst of a Pandemic
The COVID-19 pandemic has impacted nearly every industry in some way, including manufacturing. At the beginning of the pandemic, the industry all but shut down, except for manufacturers that were creating crucial products. Even in March, over 35% of manufacturers were experiencing supply chain disruptions, and that number has continued to grow over the last […]Read More
Is Inland Marine Insurance a Catch-All for Construction?
Inland marine insurance is not a catch-all. Rather, it’s a way to cover materials and equipment for contractors. If you’re a contractor hired for a job, it is your responsibility to keep everything from your building materials to any special equipment safe and secure. It is different from builders risk insurance in that the coverage […]Read More
Pay Hike for Truckers Amid Pandemic Shortage
This year has been quite a roller coaster ride for the transportation industry. From entire industries ground to a halt for months on end, leaving logistics companies scrambling to fill routes and rates in limbo, to owner-operators and smaller carriers facing bankruptcy despite federal aid. The pandemic has been challenging for transport companies, to say […]Read More
Fix It or Flip It? When is it Time to Replace That Truck
Knowing when to repair or replace an aging vehicle is imperative for any trucking business. There is always the right time to get rid of a truck and start looking for a new one! If you hold onto a truck for too long, it is going to end up costing your business much more money. […]Read More
Is Supply Chain Financing Part of Your Growth Plan?
Businesses often look internally at funding their operation. For example, they consider the likes of equipment loans, factoring invoices, and even floor plan financing. However, it could be that supply chain financing is the solution you really need. Supply chain financing can help streamline the supply chain of inventory and raw materials, creating better cash […]Read More
What Should Freight Companies Prepare For In The Fall?
2020 has been a difficult year for many businesses. Nobody could have anticipated the impact of coronavirus across every industry, leaving many businesses in turmoil. Freight companies have been no exception and have had to react and reevaluate in the wake of COVID-19. While coronavirus is still an ongoing threat, businesses are beginning to establish […]Read More
Construction Industry Update: What is the Outlook for the Final Quarter of 2020?
There is no denying that 2020 has been a year that a lot of businesses did not anticipate. It has been a much more difficult and challenging year than many would have planned for. Over the past few months, the worldwide construction industry has been under intense stress due to the COVID-19 pandemic and the […]Read More
The Top 6 Safety Risks for Truckers and How To Avoid Them
Safety on shift is not a guarantee when you land your CDL. The vigilance you feel as you prepared for your license test will fade, and experience will build, however too often we become more comfortable than we should behind the wheel of our big rigs. If you’re used driving through congested cities, you might […]Read More