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Life Tips for Personal, Financial and Business Growth

Maxwell

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How CMMs Can Help Reduce Bottlenecks And Improve Quality Control

Of all of the inefficiencies a production line might face, bottlenecks are one of the most wasteful and potentially damaging. Bottlenecks have long been studied by economists and systems analysts as a way of understanding how more efficient and productive assembly lines can be developed, and there is even a sub-discipline within accounting dedicated to quantifying the financial impact of bottlenecks as it relates to opportunity costs and lost productivity.

One of the reasons bottlenecks are so costly is due to the fact that they hurt businesses in several different ways. Bottlenecks not only slow down your production schedule, potentially leading to delayed deliveries and lost business, they can lead to skyrocketing costs in labour and repairs — they also lead to lost time and, potentially, wasted materials.

So how can production lines be designed to reduce bottlenecks without reducing product quality? One of the most important tools for improving product flow is the coordinate measuring machine (CMM). Not only does the CMM provide accurate measurement data about newly produced parts that allows for strict quality control, CMMs equipped with the latest software can also monitor the overall health of a production line for issues that could develop into serious problems later on.

One of the single biggest causes for bottlenecks on well-designed production lines is the necessity of repairs. While routine maintenance can be planned around the needs of the production schedule, unforeseen breakdowns that force a production line to cease operation until it can be fixed can occur at the most inconvenient times. One of the reasons CMMs are such a useful weapon in the battle against bottlenecks is due to their ability to gather and process large quantities of high-level data. Using the latest software, CMMs can analyse small changes in quality in the parts being measured to create a picture of how wear and tear further upstream in the production process may be leading to potentially serious machine degradation. By reading the parts being produced, the CMM not only ensures it meets blueprint standards, but also notes gradual shifts in quality that might be symptomatic of larger problems.

If you want to learn more about how CMMs and other metrology services can help improve the efficiency of your production line, visit Canadian Measurement Metrology in Mississauga, Ont. Not only do they have a wide range of CMMs, from popular bridge models to portable arms, white light scanners, and other metrology tools, they can also provide you with the latest software, like state-of-the-art PolyWorks Inspector, which allows your CMM to monitor the entire production process.

As Industry 4.0 becomes more of a reality with every passing year, the solution to costly bottlenecks and unforeseen machine failures is manifesting itself in production lines that monitor themselves. When integrated into smart production systems, the vast amounts of data that CMMs gather every time they measure a part can be used to find minor errors before they lead to major problems. By making production lines flow more smoothly and predictably, CMMs don’t just increase efficiency; the immense resources of time and capital that they save a manufacturing business might well mean the difference between success and failure.

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You Need To See Where Silver Prices Could Go This Year

You’ve probably heard the words “silver-gold ratio” if you’ve done any reading about investing in silver and gold. When you compare gold prices to silver prices, you see a big difference, with silver currently trading around $16 / oz. compared to gold at around $1,300 / oz. How could you look at those numbers and tell whether silver is overpriced or underpriced? Simple: the silver-gold ratio.

The historical silver-gold ratio was the same throughout most of human history, around 16 to 1. That started to change around the 1880s. The historical average for the last 300 years is 27, while in the last 30 years it’s fluctuated between 30 and over 90.

Silver and gold generally share price trajectories, with silver often following gold. Comparing the two precious metals helps investors understand which one is a better deal. Silver is more volatile, so when gold prices go up, silver prices rise even faster, and the silver-gold ratio shrinks. When gold prices start to fall, silver also falls faster, and the ratio increases. Right now, the market is seeing the results of a fall after peak precious metal prices in 2011. Silver is undervalued, and it could gain a lot of ground the next time market forces send gold and silver prices back up. But how far could silver prices go?

Using the prices above (and prices change constantly), the silver-gold ratio would be around 81. That means that either silver is highly undervalued historically or gold is overvalued. However, given the fact that gold has spent several years in this price range, many believe that it’s experiencing a bear market, neglected in favor of a stock market that until recently seemed like it could only go up.

You can use the silver-gold ratio to see what kind of growth potential silver might have. While it’s always a risky business trying to forecast silver prices, the silver-gold ratio gives you an idea of what’s possible given historical trends.

As mentioned above, the latest price of silver has roughly an 81:1 ratio with gold. If gold held steady at $1,300 / oz., a move toward a ratio of 60 would have silver at $22.60. A more dramatic shift to the historical average of 27 would have silver at $48 / oz.

Investors have a lot to gain from investing in silver. It has a higher growth potential than gold. You can start investing in silver quickly and easily by buying silver coins from dealers like Silver Gold Bull. The bigger your investments, the more storage will become an issue. But with dealers like Silver Gold Bull, allocated storage solutions mean you can invest in any volume of silver.

It’s estimated that silver is about 17 times more abundant than gold on the planet Earth. Industrial demand and the use of silver in applications that are not recyclable could one day diminish the total available silver. For now, mines continue to produce silver, though supplies are becoming tighter.

Most experts agree that gold will always be more valuable than silver, but that doesn’t mean that investors can make more money from gold. Silver is presently undervalued and any move closer to historical averages would be a huge boon to investors who chose silver over gold.

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How To Plan The Perfect Staycation

Are you unable to afford a trip away? Would you love to escape the demands of daily life? Are you extremely close to reaching the end of your tether? If your answer to these questions is yes, you should seriously consider arranging a staycation. This is a fantastic opportunity for you to enjoy the benefits of a holiday, without any of the costs. However, your staycation will only be a success if you take the time to plan ahead. Below are four steps that will guide you through the process.

Overhaul your living space

Before you do anything else, you will need to overhaul your living space. Failing to take this step will make it impossible for you to enjoy your staycation, as you will be spending your time in a cramped and cluttered home. This is your chance to take control of your property. Throw away the old items you no longer need, experiment with a new layout, and invest in attractive accessories. You could even go all out and place towels on the end of your beds, along with some mini toiletries and a couple of fancy chocolates.

Find fun activities to enjoy

The next step is to find fun activities that you can enjoy in your local area. This is an excellent opportunity for you to inject some much-needed excitement into your staycation. Instead of falling into step with your usual schedule, it is important that you push yourself to do something different. If you are wondering how you to go about this and try something new, you should go online to visit Ticket sales. There is no better place for you to find incredible tickets at affordable prices. From musical displays to sporting events, there is no end to the amount of fun that you could be having.

Organize delicious refreshments

You could also have a lot of fun organizing delicious refreshments to enjoy throughout your staycation. If you are a keen chef, you should take the time to look through your favorite recipe books. Are there any ambitious meals that you wouldn’t usually have the time to try out? Perhaps this is the ideal chance for you to put your culinary skills to the test. Alternatively, if you are looking for an easy life, you could explore your local takeaways and restaurants. Just try to find somewhere that you haven’t visited before, as this will make it easier for you to believe that you are on holiday.

Take plenty of great photographs  

Finally, you should endeavor to take plenty of great photographs. The fact that you haven’t left your local area shouldn’t stand in the way of you getting beautiful holiday snaps. After all, if your staycation goes to plan, it will be an experience that you want to remember. That is why you should set yourself the challenge of taking at least five photos each day. You should also learn the basics of polaroid photography, as this is a brilliant way for you to mix up your photo collection.

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3 Ways To Keep Your Business Afloat

It can be a tough struggle to keep your business relevant. There’s no end to the competition, and there is constantly room to grow and improve too. Furthermore, failure is always right around the corner, and there’s nothing you can do to comfortably distance yourself from it. In a constant arena of ‘adapt or die’, the desire for entrepreneurs to keep their own business afloat grows stronger by the day!

Consequently, here are three ways you can achieve just that!

Calm and Collected

As an entrepreneur, you’re no doubt burdened by endless responsibility. Of course, this level of obligation can really start to chip away at your mental health and overall wellbeing. Whether it’s for the company’s success or even just to keep employees paid and happy, there’s a great deal to juggle. Each branch affects the next, and when the pressure seeps on in, your business can sink.

Consequently, it’s important you prioritise. Budget your concerns the way you would your finances and realise that you can’t fix every gap there is. After all, if you have employees, then much of the responsibility in running the company falls to them. Recognise that you can’t do everything yourself, that you’re human, and work from that mindset before you turn into a miserable machine.

Fresh Ideas

Many mistake corporate competition as copying the next guy or gal and tacking on an additional quirk. If one company is succeeding in something, it can be tempting to capitalise on that trend and tweak it slightly to edge them out. Still, consumers aren’t think, and they can spot a lazy business from a mile away. Put simply, you won’t last long if your business model depends on other business making quality innovations.

However, the best kinds of businesses stick around because they are needed. Those who fade, aren’t. It’s really that simple. To be thought of as needed, you need fresh ideas that only you can execute and products that only your business can provide. When you have a unique service and brand identity, the sky is the limit for your reputation and the chances of your survivability will soar. New and exciting is forever better to shameless copying!

Funding Help

When push comes to shove, keeping your business afloat largely comes down to financing, plain and simple. If you don’t have the funds, your projects can’t get off the ground, nor can you market what you do have. You can also be evicted from your workplace if your premises are leased, and your assets will keep bleeding out until they’re well and truly spent.

However, if you’re in hard financial times or are struggling to find viable options, that doesn’t mean all hope is lost! It’s not reasonable to fund everything out of your own pocket. Consequently, a loan or two is needed to give your company that bit of a push.  Put simply, you just need to know where to look to find that support, because it’s out there. Do some research and contact investors; if your business has potential, people will come sniffing with their cash in hand!

 

 

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Here Are Reasons Business Flexibility Is At Best When Hiring Remote Workers

Workplaces around the world are changing every day and one of the most glaring changes we’re seeing is in the flexibility companies are increasingly giving to workers. Remote work is becoming more popular by the day and it shouldn’t be a surprising development, considering how flexible it can make a business. Are you interested in how hiring remote workers can improve your business? Read on.

Boost productivity

Some may argue that remote workers and part-time employees aren’t so productive, but according to Richard Branson, this is not the case at all as these kinds of workers still have high engagement and productivity levels. Other executives and entrepreneurs have discovered this as well, including Peter Hirst of MIT who noted that his flexible work policy created passionate, fulfilled and motivated employees.

Save costs

Any business would be interested in cutting costs as much as possible and that’s exactly what hiring remote workers helps you do. Apart from essentials like health insurance and professional indemnity insurance (if you run a firm of professionals), you won’t have to pay for much else per staff, except salaries, of course.

You’ll be able to employ as many people as you need without having to use a large office space. You would also reduce the carbon footprint of your company since you’ll use less power and dozens of people won’t have to get in their cars to go to and from work.

Better satisfaction

Not only will your employees be more satisfied if they can work remotely, but your customers will be too. Working on flexible terms can make employees more productive and improve their mental health and morale. Given that your employees are the contact point between your business and your customers, you can expect their attitudes to spill over to your clients. Grumpy or dissatisfied employees are likely to cause your customers to be less satisfied and this is more applicable in certain sectors more than others.

You’ll benefit from a bigger hiring pool

One of the most crucial ways a business can remain flexible is to have more options to choose from when hiring. Hiring remote workers helps you do that since you won’t be limited by factors such as geographic location. That means you can hire top talent even if they live halfway across the world. This can be particularly important for business in locations that aren’t major cities where top talent is typically found.

You’ll be free from chasing down staff

With remote workers, you are freed of the necessity of having workers being perpetually present in the office. You are less likely to deal with cases of absenteeism where a worker simply goes AWOL. While that can also happen with remote workers, there’s a slimmer chance since workers aren’t mandated to be in the office anyway.

Conclusion

If you’ve ever thought remote workers get to have all the fun, we hope you now see how flexibility can be good for your business as well.