7/3/2017

Case Study: What Is the Cost of Lost Information?

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Making sure all employees are using up-to-date information that is communicated effectively between departments helps save companies both time and money.

�

The problem with “lost” information is that it often isn’t truly lost. Much the opposite, bits and pieces of information are commonly found everywhere in the shop—you just have to know who to ask and where to look for it. This tribal knowledge can be frustrating for newcomers or someone seeking to gather complete, up-to-date information about a particular product line. Moreover, these information silos are often overlooked and not addressed by companies, especially when they aren’t causing a backlog.

In 2004, Wagstaff Inc. took a hard look at the time and money it spent tracking product line information around its Spokane, Washington facility. Product line information was stored in process documents, the CAM system and Excel spreadsheets. Not only that, but tracking and leveraging the information on new jobs was difficult because information wasn’t necessarily being shared amongst different users. After integrating the Tool Lifecycle Management system from TDM Systems, the company was able to integrate data and knowledge from various sources into a centralized database. Read the full story here.

Hand holding a crystal ball

We’d rather send you $15 than rely on our crystal ball…

It’s Capital Spending Survey season and the manufacturing industry is counting on you to participate! Odds are that you received our 5-minute Metalworking survey from Modern Machine Shop in your mail or email. Fill it out and we’ll email you $15 to exchange for your choice of gift card or charitable donation. Are you in the U.S. and not sure you received the survey? Contact us to access it.

Help us inform the industry and everybody benefits.

RELATED CONTENT

  • iPads Keep Supervisors on the Shop Floor

    Having fully interactive access to shopfloor control software enables supervisors at metal finishing and repair job shop to monitor shop activities and make better decisions on the spot.

  • Automating Machine Monitoring And Data Collection

    This automated machine data collection software automatically collects a wealth of information specific to machining processes and presents it in an intuitive format so users can quickly analyze the data and implement changes.

  • Software Speeds Inspection Documentation

    InspectionXpert software from Extensible CAD Technologies has standardized and automated this manufacturer’s process for ballooning drawings and generating inspection reports.

Resources