To encourage performance excellence within the manufacturing industry, Lockheed Martin Missiles and Fire Control is sharing its Seven Principles for Excellence in Manufacturing.
I thought it was interesting that even during the depths of the last recession, the classified ads in the major newspapers still showed opportunities for setup and machinists in our precision machining sector of advanced manufacturing.
The economics of precision machining can be understood with four factors: machining cost, material cost, tool cost, and cost of non-productive time (setup costs).