What is it? Consignment inventory is a supply chain in which retailers offer their products, but the suppliers keep the inventory of the products until they are sold. Unlike traditional inventory practices, consignment inventory puts responsibility to sell goods on the manufacturer or supplier. How does it work? Typically, the supplier would approach the retailer with an offer, the retailer will then consider the offer. Negotiations will then usually take place before the contract is signed by both...Continue Reading
Author: Nick Knotts, Industrial Engineer, The Lawton Standard Co. What are some of the current trends in the foundry industry? As the economic, social, and technological climate changes in the world, all industries inevitably must adapt to survive, and the foundry industry is no different. As a result, foundries across the United States are taking steps to ensure their survival in the near future, and their sustainability long-term as businesses. One of the things that makes the foundry industry rather...Continue Reading
The Lawton Standard Co. has recently added AMSCO Wear Products, Inc., located in Wilmington, Del., to the Lawton Standard family as part of its expansion strategy. AMSCO has been providing cost-effective, wear-resistant steel since 1915. They offer innovative design, world-class quality control, and superior customer service. AMSCO’s products include wear parts for steel recycling, mining, and waste-to-energy industries. AMSCO will operate as a sister company to Temperform. Read the full announcement here.Continue Reading
Author: Nick Knotts, Industrial Engineer, The Lawton Standard Co. What is a company’s most important asset? What is the most important resource to a manufacturing operation? Is it the machines? Is it the raw material? Does it depend on the type of manufacturing? Maybe it does depend on the business, but in my opinion, in almost every type of manufacturing, the most important resource is the people. This is especially true for an environment like the foundry, particularly...Continue Reading
Nick Knotts, Industrial Engineer for the Lawton Standard Co. has been with the company for 2 1/2 years and spent most of his time working on-site at Temperform as both an industrial engineer and a quality engineer. He came from a sister company from the same owners that were involved in automation. He was really looking forward to utilizing his education to help the other sites and has since transitioned to a more industrial engineer-focused role at the...Continue Reading
