Many words in the industry have multiple meanings and can sometimes get people’s heads in the wrong place. Cost of production, peer groups, transition planning and business structure are a few of them ...

The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

For many small and mid-sized factory managers, the question often arises: "Can programmable logic controllers (PLCs) actually help my facility save money, or are they just for the industry giants?" In ...

A range of tariffs on U.S. imports has been enacted or considered recently. Trade tariffs can potentially affect price inflation for consumption and investment goods. Estimates suggest that the impact ...