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Manufacturing and Technology Part IV: Q&A

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Our audience was filled with manufacturers with workforce issues. If you’re in the same boat, check out the answers to these common questions.

In case you missed it earlier on the blog: our expert panelists explained how they find the right employees for their organizations, reach out to high school graduates and tackle advanced manufacturing.

 

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Panelists:

Jon Kinning, COO, RK Mechanical, Inc.
Kim Madigan, CEO, AdamWorks
Bill Newland, CEO, Hercules Industries
Kevin Fink, CEO, Ice-O-Matic

Moderator:

Bart Taylor, Founder/Publisher, Company Week

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


UMB Financial Corporation (Nasdaq: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. It also has a loan production office in Texas. Subsidiaries of the holding company include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.



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Manufacturing and Technology Part III

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3-D printing and advanced manufacturing are hot topics in the manufacturing and technology industry that our panelists tackled at a recent thought leadership event.

Panelists:

Jon Kinning, COO, RK Mechanical, Inc.
Kim Madigan, CEO, AdamWorks
Bill Newland, CEO, Hercules Industries
Kevin Fink, CEO, Ice-O-Matic

Moderator:

Bart Taylor, Founder/Publisher, Company Week

In case you missed it earlier on the blog: our expert panelists explained how they find the right employees for their organizations and reach out to high school graduates.

Later this month, we’ll bring you more answers to some frequently asked questions.

 

Continue Reading

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


UMB Financial Corporation (Nasdaq: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. It also has a loan production office in Texas. Subsidiaries of the holding company include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.



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Manufacturing and Technology: Attracting a New Workforce

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Last month our expert panelists explained how they find the right employees for their organizations. Now these manufacturing and technology industry leaders tackle the topic of education and attracting the next generation to the workforce.

Kim Maddigan (CEO, AdamWorks) says the industry needs to reintroduce manufacturing as an appealing career option for young people in the United States. The panelists also discuss whether or not internships and job shadowing are a helpful approach.

Panelists:

Jon Kinning, COO, RK Mechanical, Inc.
Kim Madigan, CEO, AdamWorks
Bill Newland, CEO, Hercules Industries
Kevin Fink, CEO, Ice-O-Matic

Moderator:

Bart Taylor, Founder/Publisher, Company Week

Next month, we’ll bring you the panelists’ answers to some frequently asked questions.

 

Continue Reading

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


UMB Financial Corporation (Nasdaq: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. It also has a loan production office in Texas. Subsidiaries of the holding company include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.



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Manufacturing and Technology: A New Workforce Dynamic

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How do you find the right employees for your organization? A panelist of leaders in the manufacturing industry shared their struggles and successes with the ever-changing workforce.

Panelists:

Jon Kinning, COO, RK Mechanical, Inc.
Kim Madigan, CEO, AdamWorks
Bill Newland, CEO, Hercules Industries
Kevin Fink, CEO, Ice-O-Matic

Moderator:

Bart Taylor, Founder/Publisher, Company Week

Next month, we’ll bring you these panelists’ insights on education and technology advancements.

 

Continue Reading

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


UMB Financial Corporation (Nasdaq: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. It also has a loan production office in Texas. Subsidiaries of the holding company include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.



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Industry Insights: Manufacturing…3 ways to become more efficient

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For manufacturers, finding more ways to increase cost-savings continues to be a top priority. Looking at the rise in lean standards shows this trend. And while many are making great strides in maximizing their physical operations, administrative areas should be considered as well. Specifically, consider these time and money savers in your company’s financial processes:

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1) Plan for large investments – Evaluate and properly plan for equipment guidance line needs. As technology continues to evolve, many manufacturers are purchasing more equipment to support their operations. As businesses expand their work, make repairs or replace units, they may find themselves making multiple purchases throughout the year. Rather than go through the process of taking out a separate loan for each investment, manufacturers should map out their anticipated needs for the year and take out a line that will cover all potential investments. Not only will this save time, but it also provides flexibility for manufacturers to buy new or used equipment and to proactively plan for capital expenditures they may want to make during the year.

2) Streamline purchasing processesPurchasing cards are another item to consider from a processing standpoint. Not only does the right program provide valuable rewards, but it also cuts down on check writing, and provides increased flexibility in cash flow. Additionally, it creates a more streamlined tracking system for accounting departments. By allowing job numbers to be attached to specific expenses, companies can easily allocate costs to the appropriate projects, which results in more effective planning and budgeting.

3) Use payment technology – Remote deposit is a great service to incorporate into business operations as well. For manufacturers that have not yet made the jump, this is an easy, and extremely valuable, component to incorporate into the payments process. In addition to being very easy to use, it provides a safe and secure way to process incoming funds and also saves valuable time by eliminating the need for deposit trips to the bank.

As the saying goes, time is money, so implementing ways to become more efficient is a great way to positively affect the bottom line.

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Mr. Nohavec is a SVP/Business Development Officer for UMB Bank Colorado. He is responsible for Colorado. He joined UMB in 2005 and has 20 years of experience in the financial services industry.



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