The American Mold Builder 2023 Issue 4

ISSUE 4 2023

AMBA Conference 2024 Set to Engage, Elevate and Evolve Reshoring Case Study Delivers Win-Win China Tariff Strategy Drives Election Strategic Planning for Success

THE OFFICIAL PUBLICATION OF THE AMERICAN MOLD BUILDERS ASSOCIATION

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ISSUE 4 2023

AMBA Conference 2024 Set to Engage, Elevate and Evolve Reshoring Case Study Delivers Win-Win China Tariff Strategy Drives Election Strategic Planning for Success

ISSUE 4 2023

THE OFFICIAL PUBLICATION OF THE AMERICAN MOLD BUILDERS ASSOCIATION

Speak Out .................................................. 6 Product ...................................................... 17 Association .............................................. 28 Industry .................................................... 38 Calendar ................................................... 46

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EVENT PREVIEW AMBA Conference 2024 Engage. Elevate. Evolve.

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ADVOCACY Biden’s 2024 China Tariff Strategy

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FOCUS Creating a Win-Win with Reshoring

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STRATEGIES Strategic Planning for 2024: Contracts, Labor Market and Tax Impacts

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TALENT The Hidden Value of Leadership Development

Ad Index ................................................... 46

Cover image courtesy of Industrial Molds.

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AMERICAN MOLD BUILDERS ASSOCIATION 7321 Shadeland Station Way, #285 Indianapolis, IN 46256 P: 317.436.3102 • F: 317.913.2445 info@amba.org • www.amba.org

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BENCHMARKING US Mold Builders Look Beyond Financial Incentives to Attract and Retain Employees

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MARKETING How to Get the Most Out of Attending NPE2024

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TRAINING Strategic Workforce Management: The ATR Framework

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AMBA TEAM

Troy Nix, Executive Director Kym Conis, Managing Director Susan Denzio, Business Manager Rachael Pfenninger, Director of Strategic Execution

Advising Editor: Kym Conis Advertising/Sales: Susan Denzio PUBLISHED BY:

2150 SW Westport Dr., Suite #101 Topeka, KS 66614 P: 785.271.5801 Vice President, Editorial: Dianna Brodine Editor: Lindsey Munson Vice President, Design: Becky Arensdorf Graphic Designer: Hailey Mann Opinions expressed in this publication may or may not reflect the views of the Association and do not necessarily represent official positions or policies of the Association or its members.

www.americanmoldbuilder.com | AMBA.org

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A MESSAGE FROM THE AMBA PRESIDENT

H THOMAS W. BARR AMBA President TK MOLD & ENGINEERING

ello AMBA family! I just got off the phone with Rick Hecker from Eifel Mold. Like most of us, Hecker is a generational moldmaker. It’s always refreshing to have conversations with Hecker and be reminded that I am not alone in the current manufacturing climate. When I started my company almost 21 years ago, I never fully realized the weight of it all. Hecker’s phone call reminded me of what AMBA is about – “A brotherhood/sisterhood created by AMBA.” Hecker and I know that if we ever want to run ideas by each other or have someone present to listen, we are a phone call away. He and I met years ago as we were attempting to start the AMBA Detroit/Southeast Michigan Chapter. We’ve remained moldmaking brothers ever since. Building friendships and knowing we are in this together are what keeps us determined to fight through any challenges. I encourage my fellow members to keep reaching out to each other for encouragement and camaraderie.

We were in the midst of the UAW Strike, when I was writing this article, and we are doing what needs to be done to keep moving in a positive direction. Whether in the automotive sector or not, this strike has had a ripple effect on the entire industry and economy. Some of the immediate ramifications include layoffs, indefinite job loss and businesses that simply had to close their doors.

When this strike ends, we know that prices of vehicles will continue to go up, manufacturers and consumers will be hit hard again and money will need to come from somewhere to pay for the strike negotiations. Nothing is ever free.

Besides the UAW strike affecting the industry, today’s environment has more pressure points than in the past. The recession is driving up interest rates, costs of living and commercial issues. Offshore competition, incomplete data and more demands put on businesses were not factored into estimates for work we're doing, just to name a few. I am not telling you anything that you do not already know. But I am saying, “You are not alone.” As AMBA members, we all ‘get it’… It’s a brotherhood/sisterhood!”

I do have to say that growing up in the Detroit area reminds me how lucky we are that we are not a unionized trade. Our trade is multifaceted and full of people who are true innovators, with a work ethic like military elites and star athletes. We are cross-trained and can carry out multiple assignments and are not limited to one area of the job. We design, build, assemble and produce products that people need to USE! We have grit! We have determination! And AMBA cares... Brotherhood/sisterhood!

Thank you, AMBA Board members, for taking time out of your busy schedules to carry out AMBA’s vision. This last board meeting was very productive, spending the day at Swiss Steel’s Chicago facility. The Board continues to be laser-focused on AMBA’s mission: To provide workforce development solutions, networking and benchmarking opportunities and industry promotion for members’ success. Stay tuned for new initiatives. Thank you, Board Member John Stocker and the Swiss Steel team, for the tour and providing a location where we could be together to work on AMBA’s future programming… Brotherhood/sisterhood!

As the president of AMBA, writing these articles comes with this position. I want to mention, as I have in the past, how fortunate we are to have such great business partners. We are grateful to have partners right there with us producing quality products and services to give us a competitive advantage. Thank you AMBA partners! Here’s to the brotherhood/sisterhood! n ­

BOARD OF DIRECTORS OFFICERS

National President Tom Barr, TK Mold & Engineering Immediate Past-President Jim Sperber, Master Tool & Mold Vice President Tyler VanRee, Legacy Precision Molds

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Secretary and Legal Counsel Alan Rothenbuecher, Benesch, Friedlander, Coplan & Aronoff LLP Treasurer Andy Peterson, Industrial Molds Group

David Bowers, II, JMMS, Inc. Charles Daniels, Wepco Plastics Ed Francis, Crystallume Engineered Diamond Products Mike Hetherington, Franchino Mold & Engineering Eric Karaman, Michiana Global Mold Kyle Klouda, MSI Mold Builders Chad LaMance, United Tool and Mold Troy Roberts, Tolerance Tool Camille Sackett, Accede Mold & Tool John Stocker, Swiss Steel USA, Inc. Hillary Thomas, Westminster Tool, Inc.

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2024

Engage. Elevate. Evolve.

ENGAGE. ELEVATE. EVOLVE. – AMBA CONFERENCE 2024 March 19-21, 2024 – The Amway Grand Plaza Hotel – Grand Rapids, Michigan AMBA Conference 2024 will tackle the tough challenges faced by mold manufacturers today through content and connection opportunities that will motivate attendees to elevate beyond what they know, engage with those who are moving the dial and evolve with a greater resolve!

Conference 2024 will drive off-the-chart value for attendees as mold manufacturers engage with peers and industry suppliers to discover new business strategies, explore emerging technologies and uncover workforce development strategies that are successfully impacting retention and growth.

Featured content will include business strategies, continuous improvement initiatives to produce greater efficiencies, workforce development strategies and best practices, advancements in technology to drive bottom-line impact and proven ROI, leadership and communication strategies for AMBA's Emerging Leaders, connection opportunities to strategize with peers sharing similar job functions and much more. Learn more and register at www.ambaconference.com.

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KEYNOTE SPEAKER AND EMCEE TROY NIX American Mold Builders Association Troy Nix is the executive director of the AMBA and serves as the master of ceremonies for AMBA Conference 2024. Known for his spirit, enthusiasm and belief in American manufacturing, Nix delivers an opening address that never fails to spark emotion in each attendee’s inner core. This year’s message will focus on Nix’s personal life experiences and best practices that are sure to empower personal and professional growth. Nix’s tag line “America Is What America Makes” is an essential ideal that motivates those attending the conference to strive for excellence.

SCHEDULE OF EVENTS TUESDAY

12:15 p.m.

1:00 - 4:00 p.m. Emerging Leaders Pre-Con Session (Optional): Assertiveness Skills for Managers and Supervisors » Kelly McDaniel, president, DeLisaGroup 4:15 - 5:30 p.m. Topical Rounds (TBA) – All Conference Attendees 5:30 - 7:00 p.m. Welcome Reception

WEDNESDAY 7:00 a.m.

8:00 a.m.

8:20 a.m.

9:20 a.m.

10:00 a.m.

11:15 a.m.

“Business over Breakfast” Connections Or “Conversation over Coffee” Welcome Kick-Off » Troy Nix, AMBA Executive Director Opening Keynote: The Promise » Jason Hewlett, Speaker, Entertainer and Author Supplier Trade Fair / Networking Break Breakout Track – Business Management Strategies General Session: Navigating the 2024 November Election – Tax Policy, Tariffs and More » Omar Nashashibi, The Franklin Partnership

1:30 p.m.

2:45 p.m.

3:15 p.m.

3:45 p.m.

6:30 p.m.

7:30 p.m.

THURSDAY 7:45 a.m.

9:00 a.m.

9:15 a.m.

9:45 a.m.

10:00 a.m.

11:00 a.m.

2:00 p.m.

Networking Lunch Or Lunch and Learn with Jason Hewlett Breakout Track – Workforce Strategies Supplier Trade Fair / Networking Break General Session: Reshoring Panel Closing Keynote: “No Excuses” – Break Through Fear and Adversity to Play a Bigger Game in Business and Life » David Atkins, Keynote Speaker Awards Reception Awards Dinner and Celebration

“Grab and Go” Breakfast over Peer-to-Peer Roundtable Discussions Supplier Trade Fair / Networking Break General Session: TBA Event Wrap Up » Troy Nix, AMBA Executive Director Conference Adjourned Plant Tour (Optional) Plant Tour Adjourned

ambaconference.com www.americanmoldbuilder.com | AMBA.org

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FEATURED PRESENTATIONS THE PROMISE Jason Hewlett, speaker, entertainer and author In a world where consumer expectations are at an all-time high and online reviews can make or break a reputation, organizations are eager to learn how they can improve the customer experience and attract new business. According to Jason Hewlitt, the answer lies with igniting the “inner icon” in all team members, showing them the very real value in defining and developing their “signature service moves,” raising their commitment and showcasing their promise for legendary people skills.

With humor, heart and absolute clarity, Hewlett brings the legends of stage, music and comedy to life so that leaders and teams can discover their own signature moves and redefine their promise and commitment to their companies and customers alike.

NAVIGATING THE 2024 NOVEMBER ELECTION – TAX POLICY, TARIFFS AND MORE Omar Nashashibi, The Franklin Partnership Every presidential election year brings with it uncertainty over the direction Washington will take regarding policy that will affect US manufacturers. AMBA’s lobbyist in Washington, D.C., Omar S. Nashashibi, will address this uncertainty through a timely update on the state of tariffs on China, the ways in which elections already are impacting tax policy and whether the outcomes of November 2024 will prompt a change in direction for regulators. Attendees will receive exclusive insight into the anticipated state of R&D and business tax rates, tariffs on imports, developments at OSHA and how companies can plan around possible election scenarios. This is a must-attend session that will help US mold manufacturing executives navigate the uncertainty and provide direct access to a Washington insider.

“NO EXCUSES” – BREAK THROUGH FEAR AND ADVERSITY TO PLAY A BIGGER GAME IN BUSINESS AND LIFE David Atkins, keynote speaker Fear and adversity – and how they are addressed – often make the difference between those that truly are successful and those that are not. These challenges are faced each and every day, professionally and personally; however, only a select few know how to overcome them. Through vision, mindset and a sense of urgency, motivational speaker David Atkins inspires audiences to join “the few” as he coaches attendees on how to break through these barriers with the P3 Framework – a model that speaks to the inner core. Audience members will leave the session equipped with the tools necessary to face their fears head-on and energized with a “no excuses” mindset to accomplish their goals.

THANK YOU TO THE AMBA CONFERENCE 2024 SPONSORS PLATINUM EVENT SPONSORS

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SPECIAL SESSIONS EMERGING LEADERS PRE-CONFERENCE SESSION ASSERTIVENESS SKILLS FOR MANAGERS AND SUPERVISORS Kelly McDaniel, president, DeLisaGroup During this interactive workshop, emerging AMBA professionals will join their peers to tackle strategies related to the toughest of supervisory problems: coaching others for accountability and meeting team member needs, even in relationships where they don’t have authority. This three-hour session will include a panel of seasoned mold manufacturing executives, who will share their personal leadership experiences, management strategies, best practices learned and the bottom-line impact of thoughtful learning and leadership.

LUNCH AND LEARN DISCOVERING YOUR SIGNATURE MOVE Jason Hewlett, speaker, entertainer and author During this deep-dive session, Jason Hewlett will explore the ways in which leaders and team members can discover their individuality and contribute to the customer experience through the development of their “signature move.” This is a ticket-only event.

PEER-TO-PEER EXCHANGES

HOTEL INFORMATION HISTORIC LUXURY IN DOWNTOWN GRAND RAPIDS

Discover historic charm and modern comforts at the Amway Grand Plaza Hotel, Curio Collection by Hilton. Nestled downtown by the Grand River, the hotel is perfectly situated for exploring the city’s many attractions, restaurants, craft breweries and more. The property offers nine on-site restaurants and bars, indoor pool, fitness center and onsite spa. The special AMBA rate is $189/night. To get the AMBA rate, reservations should be made on or before February 28.

This session is back by popular demand! Growing peer-to-peer networks For reservations, call 616.774.2000 or visit is a primary component of AMBA Conference 2024. Attendees will have www.ambaconference.com. the chance to interact with peer groups during this session on topics that are unique to their job functions in their specific groups. Driven by past attendee feedback, these focused sessions have been highly requested and are expected to be one of the biggest hits of this year’s conference. Areas covered will be operations, owners/presidents/CEOs, sales and marketing and workforce development.

MEET THE MENTOR FOR AMBA’S EMERGING LEADERS AMBA's Emerging Leaders will have the opportunity to engage and connect with industry mentors and other up-and-coming professionals during the Wednesday Networking Lunch. Designated seating will be reserved for those professionals looking to learn from one another and connect. n GOLD EVENT SPONSORS

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www.americanmoldbuilder.com | AMBA.org

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BIDEN’S 2024 CHINA TARIFF STRATEGY

By Omar S. Nashashibi, co-founder, The Franklin Partnership, LLC

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he Biden administration’s policies toward China not only have geopolitical implications beyond US borders, but also are a direct factor in the November 2024 elections.

An Ipsos August 2023 poll proves this point well.

Sixty-six percent of Americans are more likely to support a candidate who endorses additional tariffs on Chinese imports, while 53% want a candidate who will ban certain Chinese imports, even if that means paying higher prices.

Gallup has annually surveyed Americans since 1996 about their opinions toward China, reaching a peak in 2017 with 50% favorable opinion. In 2023, only 15% of Americans hold that same opinion, with 84% having an overall unfavorable opinion.

Much can be said about the state of polling in US politics today, but few would question how voters, in general, feel toward policies of the Chinese Communist Party that runs China’s government. Few also would question many voters in manufacturing-heavy states that help decide a presidential election who want a Biden or Trump administration to demonstrate that it will take a tough-on-China approach.

(We will presume for these purposes, that one year from now, Biden and Trump are their party’s nominee.)

The White House knows that Republicans already are readying attack lines that President Biden is weak on China – whether over Taiwan support, electric vehicles or critical technologies, such as artificial intelligence. Advisors to former President Trump have said that he would increase tariffs on China were he to return to the Oval Office in 2025.

At the start of the current Congress in January 2023, House Republicans created the Select Committee on the Strategic Competition between the United States and the Chinese Communist Party. The Committee has held field hearings throughout the country, and Senate Majority Leader Charles Schumer (D-NY) indicated he would like to move a Chinafocused bill in 2024 that could receive bipartisan support.

The American Mold Builders Association, for which The Franklin Partnership (TFP) lobbies in Washington, D.C., continues to push the Biden administration to maintain the 12

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25% tariffs on imported Chinese molds, tools and dies, and succeeded in convincing the US Trade Representative (USTR) to maintain the tariffs as it reviews policy toward China. Former President Trump began imposing tariffs on China in July 2018, and President Biden decided to retain the tax on over 10,000 Chinese imports, including plastic injection molds, that AMBA successfully lobbied to have reinstated in 2019.

AMBA’s lobbying campaigns for both the Trump and Biden administrations focused heavily on the economic and national security importance of its members. However, TFP also strategically worked with lawmakers in key states of political importance for the upcoming elections to send a message directly to the White House – to keep the tariffs in place. This was key to success – understanding the political approach to public policy: in this case, the tariffs on China.

President Biden and his reelection team also are including a political approach to their China strategy. The US is in talks with the European Union (EU) about creating steel and aluminum tariffs on both excess imports from non-market economies and on carbon-intense products.

The US asked the EU to place a 25% tariff on steel and 10% on aluminum, which would cover 70% of the imports from non-market economies, such as China. This is among the top priorities for the steel industry and its unions, on which President Biden will rely to help him win a second term. This White House promotes itself as the most prounion administration in US history, and the continuation and expansion of tariffs on Chinese products is a winning political issue, aside from the policy implications.

Whether it is an effort to drive union support or show strength behind American manufacturing, many in Washington, D.C. believe that President Biden will retain most tariffs on China.

The Office of the USTR is conducting a four-year review on the effectiveness of Section 301 tariffs and, ultimately, if it should retain or lift the tariff action on imports from China, including molds, tools and dies. Reason one to keep and increase tariffs on China: Unions and manufacturing votes.

Sometimes, good politics makes good policy.

Cooling Range

The second constituency President Biden aims to appease with this tariff policy toward Beijing is the environmental groups. Concurrent with the EU discussions over excess steel capacity from China, the Biden administration is in discussions with its counterparts in Brussels about creating a carbon-based tariff.

USA System

On October 1, 2023, the EU started its Carbon Border Adjustment Mechanism (CBAM) regime that requires importers of certain products, including iron and steel, to report on their carbon footprint. Starting in 2026, importers into the EU of select products including from the US, must purchase CBAM certificates, and regulators may expand those products by 2030 to include other imports.

Rather than create a carbon certificate or credit program, the US is looking to create a partnership with the EU, whereby both jurisdictions impose tariffs on imports based on the product-specific carbon footprint. Washington envisions a program that allows products carrying a carbon cost below a certain level to move tariff-free. Products manufactured in one of the countries that is part of the carbon club would face a lower tariff rate if they exceed the permissible carbon level, and those not in the carbon agreement must pay a higher tariff rate.

Currently, the proposal, known as the Global Arrangement on Sustainable Steel, is limited in scope, but many expect an expansion should President Biden win a second term.

This clearly targets countries such as China, which again helps President Biden politically with unions and manufacturing voters, but also with environmental groups that want to see reduced carbon from the industry. He is able to achieve two political goals through a tariff policy toward Chinese imports.

This, his team hopes, will help in the 2024 reelection campaign against his predecessor, who first implemented the tariffs. The political circumstances of 2024 only increase the position of AMBA, as it lobbies to retain the tariffs on Chinese molds, tooling and dies.

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Sometimes, good politics makes good policy. n Omar Nashashibi is a founding partner at The Franklin Partnership, LLC, a bipartisan government relations and lobbying firm retained by the American Mold Builders Association in Washington, D.C.

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www.americanmoldbuilder.com | AMBA.org

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CREATING A WIN-WIN WITH RESHORING

By Shelly Otenbaker, president, WayPoint Marketing Communications

T

hroughout the past three years, the manufacturing industry has experienced a series of challenges that have made it difficult for companies to remain competitive and, in some instances, keep finished goods in the marketplace.

As a result, it has become increasingly more important for manufacturers to streamline and fortify their supply chain to eliminate risk and better manage demand.

Many businesses already have, or are considering, relocating secondary work closer to the origin of production, often referred to as “reshoring.” In fact, according to a report from The Reshoring Initiative, approximately 400,000 manufacturing jobs in 2023 were announced to be added in the US due to reshoring and foreign direct investment. This represents an 11% increase from 2022.

Due to these unprecedented times and ongoing geopolitical challenges, many US-based manufacturers are looking at every aspect of their operations, including supply chain, to ensure they can cost effectively meet demand. What worked in the past may not work today. Reshoring or transferring work closer to its origin are options that can reduce risk, ensure stability and, oftentimes, improve efficiency. With available capacity in the mold building industry hovering between 71% to 72%, according to AMBA’s 2023 Shop Rate Report, reshoring provides an opportunity to strengthen the domestic manufacturing industry and benefit mold builders and molders.

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Illinois-based Industrial Molds – a highly automated, state-of-the-art mold manufacturer and part of Pyramid Molding Group – has capitalized on the instability in the manufacturing marketplace by securing business that previously was completed in low-cost countries.

CASE STUDY: INDUSTRIAL MOLDS COLLABORATES WITH SLOAN Sloan, a manufacturer of water-saving commercial bathroom products based in Franklin Park, Illinois, was searching for a supplier to support the company’s need for a 14-tool package, including complex tools for a product with Class A finishes. The company was familiar with sourcing tooling in China and other low-cost countries, but for this situation considered a two-pronged approach – quoting the whole package overseas and splitting up the package to multiple vendors to ensure cost, quality and lead-time targets were met.

“We have extensive experience with building molds for complex parts and managing secondary operations, so we felt we could meet Sloan’s needs,” said Andrew Peterson, chief operating officer, Industrial Molds. “We never say no.

Our knowledgeable team of problem solvers always finds a way to deliver, so we were confident we could help Sloan.”

As it does with all customers, Industrial Molds collaborated with Sloan to understand the project’s requirements and key concerns. Knowing the complete picture, Industrial Molds

Caption (right): Sloan was looking for a partner that could provide a 14-tool package to produce a part with a Class A finish. developed a unique solution that leveraged the company’s expertise and partnerships. By collaborating with Pyramid Plastics – also part of Pyramid Molding Group – and identifying an industrial plating partner, Industrial Molds’ solution included mold building, molding and plating. For Sloan, this would mean a competitively priced finished part produced 100% in the US. In addition to providing a single source for the project, being located in the same state meant Industrial Molds was able to eliminate time zone complications, address issues and conduct product reviews in person throughout the project.

Sloan was looking for a partner with the ability to meet its high-quality standards and compressed timeline – two critical componets. These were no problem for Industrial Molds.

1.

2.

Quality – The specific part needed to be molded and then chrome dipped, a process that would highlight any imperfections. To meet Sloan’s requirements, the part needed to be “perfect.” Understanding this, the Industrial Molds team worked with Sloan to design a mold that could provide the correct fit and finish, and made adjustments throughout the process to ensure the required quality was met.

Timeline – The initial timing of the project was five months from kickoff to fully approved production part, which included compressed deadlines. To address this, Industrial Molds created a project plan that leveraged the company’s technology, unique scheduling process and experienced team.

“During the COVID-19 pandemic, we made adjustments to our operations that improved efficiency and our ability to deliver molds with reduced lead times,” said Peterson.

“Since making those operational changes, our workforce is more productive and turnaround times have improved, leading to an increased throughput of 31%.” Peterson added that a key to meeting this metric was a “mind shift” in the way the company tackled in-house work. Instead of working on several projects at the same time, the company focused on fewer projects but with greater time, energy and resolve.

This strategy has served to increase production and decrease turnaround time on molds.

There are many benefits to building molds and producing parts near locations where final production and assembly will occur. As the price gap between domestic and low-cost country manufacturing shrinks, mold builders and plastic processors can benefit from reshoring. The Sloan/Industrial Molds project is just one example of a project where reshoring resulted in both companies achieving success – an on-time, high-quality product.

“We strongly feel that collaboration was the solid foundation for Sloan selecting us as a partner. We were able to eliminate the complexity of multiple suppliers, as well as time zone and language challenges. In addition to all that, we established a relationship built on transparency, trust and communication,” added Peterson.

While the Sloan project is a reshoring success story that highlights how Industrial Molds was able to think differently and still deliver value to a customer, it’s not its first. Since 2020, Industrial Molds has leveraged its key differentiators to identify and secure a significant number of reshored projects. In fact, approximately 35% of Industrial Molds’ business today comes from reshored projects.

“We will continue to pursue business that fits our niche,” said Peterson. “It is our goal to add value and wow the customer with our service and quality products. Right now, we see reshoring as an opportunity and are working to continue capitalizing on it.”

BENEFITS OF RESHORING MOLD BUILDING ● Enhanced Quality Control: Closer proximity to production facilities allows for better oversight and quality assurance, as well as faster communication regarding quality issues and solutions. ● Improved Security: Reshoring promotes self-reliance, reduces dependency on foreign suppliers and safeguards sensitive technologies, helping eliminate the loss of intellectual property for US companies. ● Reduced Lead Times: Shorter supply chains result in faster delivery times and improved responsiveness to market and customer demands. ● Reduced Freight Costs: Having molds made closer to the production facility eliminates the need for air and sea freight costs, which have risen exponentially recently.

t

Caption (left): In addition to designing and building the mold, Industrial Molds identified resources for molding and plating the part, providing a finished product built entirely in the US.

www.americanmoldbuilder.com | AMBA.org

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t PREPARING A BUSINESS FOR RESHORING OPPORTUNITIES Mold building is and will continue to be a very competitive industry. And, while many things also are evolving in the industry, one thing remains constant – price always will be a factor. However, there are steps that can be taken to improve a shop’s competitiveness and create a compelling business case for reshoring.

First, look for improvements within internal operations: What steps can be taken to eliminate waste, improve the teams’ efficiencies and make the most of existing equipment? Also, look for opportunities to invest in technology – automation or software – that can streamline the mold building process or allow the team to do more with less.

Next, leaders need to be innovative in the way they bid on business. What are ways the company can deliver more value or a better solution than overseas manufacturers?

For example, think about identifying strategic partners that can help create a niche or expertise in a specific area while ensuring security of product designs and intellectual property.

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PCS_ProductLine_HalfPgH_7_5_x_4_875_050923_Final.indd 1

Finally, help customers recognize and understand the value in reshoring their mold building to the US – eliminating additional project management and transportation costs; mitigating the negative effects that a poor-quality part can have on cost and reputation; and reducing extended timelines related to transportation and/or mold repairs, just to name a few. Although these may not show up in the initial quote, they can be incredibly costly factors when working with low-cost countries for mold building needs.

Recently, the only consistent factor in manufacturing is the ongoing chaos. Unfortunately, it is not predicted to change in the near future. This is why companies in the North American plastics industry need to find ways to maintain their competitiveness while meeting the growing demand of customers. Reshoring is one of those ways. n Shelly Otenbaker is president of WayPoint Marketing Communications, a full-service marketing communications firm focused on helping manufacturers attract and retain customers and talent with smart marketing strategies. More information: www.waypointmc.com

5/9/23 7:29 AM

1 [1] PROGRESSIVE RELEASES BLUETOOTH CVE MONITOR Progressive Components, Wauconda, Illinois, a developer and distributor of componentry and software for the production tooling industry, has released the CVe Monitor® RT. This real-time mold monitor allows users to view the tool’s cycle count and other data on the device, provides Bluetooth® access to information utilizing the ProFile® app and with additional hardware can send real-time data to the app in the cloud for global access. For more information, visit www.procomps.com.

HASCO RELEASES MOLD TAG WITH RFID CHIP HASCO, Fletcher, North Carolina, has released a new mold tag (A5910) with an RFID chip (radio frequency identification) that enables the easy and reliable digitalization of original HASCO standard mold units in injection molding tools. The new mold tag gives direct access to current information and CAD data of the hot runner system, including order reference, product category, product type and material number. For more information, visit www.hasco.com.

[2] STARRETT INTRODUCES WIRELESS DEPTH GAGES The L.S. Starrett Company, Athol, Massachusetts, has introduced three Wireless Electronic Depth Gages (W640JZ, W643JZ and W644JZ). The gages are made in the US and are part of a line of over 40 new electronic precision gages. The depth gages feature a digital readout that can be viewed on a large easy-to-read LCD and offer automated wireless measurement data collection when integrated with data acquisition applications such as Starrett DataSure® 4.0 software. Measurement ranges for each of the gages include: the W640JZ offers a range of 0-.500" (0-13 mm), the W643JZ offers a range of 0-.125" (0-3 mm) and the W644JZ offers a range of 0-3" (0-75 mm). For more information, visit www.starrett.com.

ANCA LAUNCHES FX7 ULTRA ANCA, Melbourne, Australia, a manufacturer of CNC grinding machines, has launched the FX7 ULTRA. Designed for small tools, the FX7 ULTRA was built with new software, hardware and design features that improve surface finish, accuracy and controlled runout, ensuring batch consistency from the first ground tool to the last. It includes a new

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servo control algorithm for smooth motion; system and mechanical upgrades to enhance stiffness and rigidity; and in-process measuring, balancing and runout compensation for consistent accuracy. For more information, visit www. machines.anca.com.

PLATINUM TOOLING DISTRIBUTES U-TEC® Platinum Tooling Technologies, Inc., Prospect Heights, Illinois, the North American importer for heimatec GmbH, has announced the addition of the u-tec® flexible changing system. The system allows a standard ER output live tool to accept various adapters for different applications. This allows users the ability to have a quick changeover of tools on almost any lathe or mill, using a single tool, without having to commit to a quick-change system on the initial purchase. For more information, www.platinumtooling.com.

EMUGE-FRANKEN USA INTRODUCES MULTITOOL PROGRAM EMUGE-FRANKEN USA, West Boylston, Massachussetts, a manufacturer of high-performance taps, thread mills, drills, end mills and other rotary tools, has introduced its MultiTOOL program. It includes MultiTAP™ tapping solution, ranging from cut taps to form taps in different coatings and extended lengths; MultiTHREAD™ MILL, a cost-effective thread milling solution for facilities with frequent application and material changes; and MultiDRILL™, solid carbide 3XD and 5XD drills for manufacturers that have limited quantity production runs or operate in an environment with many materials. For more information, visit info.emuge.com/ multitool.

[3] SERVOMOLD® DEVELOPS SERVO LINEAR ACTUATORS Servomold®, Erbach, Germany, has developed new servo linear actuators of the SLA series and new compact servo worm actuators of the SSA series. The SLA types are available in five sizes. The three smaller actuators are equipped with ball screw spindles as standard but also can be optionally supplied with roller screw spindles that can withstand higher loads over longer periods. The two larger versions are solely available with roller screw spindles. The SSA servo worm actuator is available only in one size and has a flat design with a 90° arrangement of the drive unit. For more information,visit www.servomold.com. n www.americanmoldbuilder.com | AMBA.org

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STRATEGIC PLANNING FOR 2024: CONTRACTS, LABOR MARKET AND TAX IMPACTS

By Lindsey Munson, editor, The American Mold Builder

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n a matter of weeks, 2023 will come to a close and companies will begin the important task of analyzing the prior months to then take those learnings and build a strategic plan for 2024.

Ultimately, this will paint a clear direction for management and internal teams as they head into a new year.

By taking early measures to create an annual roadmap, companies prepare to meet challenges and pressures head-on, to effectively combat economic impacts and to set their day-to-day operations up for major achievements.

In this article, three industry professionals break down the ins and outs of the industry based on their specific business area, including contracts, labor shortages and tax law. Through this infor­mation, manufacturers will gain insight into various market factors (i.e., geopolitical issues, demand-supply imbalances, technological advancements, consumer behavior, etc.), high-low trends of the industry and how to strategically plan for success in 2024.

CONTRACT PLANNING In the past five years, the mold manufacturing industry has seen significant upheaval in commercial contracts, driven by unprecedented challenges that have included pandemics, labor shortages, energy crises, transportation issues and supply chain disruption. These circumstances have increased uncertainty and risk, which is why it is critical that leadership put a contract management plan in place. This allows management to monitor and assess contracts to ensure they support business goals.

This reduces risk and streamlines decisions by 1) putting contracts in one place, 2) installing an efficient method to manage contracts across channels and 3) providing better control of the contract through each stage.

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“As for the labor market and its unrest,” he continued, “this could spread among a variety of industries as well as employment classes in manufacturers’ vendor pool. This is a wildcard that is hard to predict, but could be incredibly impactful.”

The upcoming presidential election also will drive uncertainty and have a deep impact on the industry. This economic and legislative limbo isn’t new, as Keglewitsch shared there has been constant pressure on mold builders and that they, “… have been looking over their shoulders for years, unclear as to what will come next.”

MRT’s Co-Owner and Executive Recruiter Jerry Jones said, “For manufacturers regardless of their readings or feelings, the industry has a severe shortage of critical skilled technical talent.” A 25-year veteran in the recruiting industry, Jones has seen the highs and lows that come with the manufacturing industry, assisting companies with operational turnarounds and rebuilding them through recruitment, training and development.

Continuing, Jones said, “The challenges in employment and staffing are the shortages in the areas of operations, engineering, sales, finance and maintenance. The searches MRT is conducting today and for tomorrow bear this out.

Considering not only the deficit in talent but also the housing cost, higher interest rates and boomer retirements will exacerbate the situation.”

Economically, Jones shared that the biggest challenge in the industry is the talent shortage and the ability to relocate a person due to housing issues, costs and mortgage rates. He said, “As mentioned time and time again, this will be with companies in the industry for some time and will intensify.”

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Josef Keglewitsch, a partner with full-service law firm Ice Miller LLP, has extensive experience in the contractual complexities of the manufacturing industry and offers professional insight that can assist companies in their yearly contract planning. “The industry should expect supply chain challenges to continue easing up as the new year hits, which will translate into fewer breaches of contracts,” Keglewitsch said. “In prior months, there was a spike in breaches as a result of the inability to perform due to supply chain-created limitations.”

www.americanmoldbuilder.com | AMBA.org

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However, he said manufacturers should keep their eyes on current news: “There perhaps will be a negative impact at the end of the year, depending on the political party that wins, or as polling points move one direction or another. This will determine the outcomes of long-term concerns that include increased regulatory burdens and inflation that creeps into contractual relationships.”

As manufacturers begin planning 2024, Keglewitsch shared practical ways to mitigate contractual challenges: ● Build price flexibility into customer contracts to ensure manufacturers do not get caught flat-footed. ● Lock down vendors in long-term contracts. ● Be proactive in managing contractual relationships. ● Get smart force majeure provisions in place and make sure form contracts are state-of-the-art. Most importantly, don’t sign just to finalize the deal.

LABOR MARKET AND CLOSING THE SKILLED GAP As an industry, solving the manufacturing labor shortage would make a company’s life a whole lot easier. However, it’s not just about finding a person to fill the need – it’s about educating from the ground up and finding skilled workers who can leverage today’s technology and advance it for tomorrow. Florida-based Management Recruiters of Tallahassee (MRT) has more than 40 years of experience in manufacturing recruitment solutions. MRT’s mission is to connect the people vital to manufacturing success. Its slogan, “Placement with purpose,” breeds the reality of exactly what manufacturers need to beat the labor market woes.

t As for the upcoming presidential election, MRT is preparing for a labor market slowdown but, Jones said, “… just for a bit.” He continued, “Typically, as the spring and summer wanes during an election year, companies pull back until after the election due to the fear of the unknown. Regardless of who wins, we will be back to business as usual.”

As mold builders look to 2024, MRT encourages them to sit down and review their employee rosters to see if any of their key people, the ones who carry the 80/20 rule, are approaching or are at retirement age.

Jones said, “The next step is to identify if the company has sufficient in-house talent to develop or if the recruitment process should begin to bring in labor from the outside. This brings another set of challenges with internal equity vs. what the outside currently is making.”

Most importantly, Jones said, “Companies should not shy away from a younger, less experienced person but rather encourage the new generation to step in and up. When the younger employee base is given an opportunity, MRT routinely has seen them shine – especially when given proper mentoring and coaching for success.”

Jones’ recruiting philosophy is not just to find the requirements for the position but rather, the right employee fit to include culture, experience, skills and capability.

TAX IMPACTS AND POLITICS While 2023 introduced a mix of tax benefits and challenges with rising interest rates and inflation, companies will be digging deep for tax planning strategies amid volatility across most industry sectors. Mike Devereux is a partner, Industrial Products Manufacturing leader and CPA for Wipfli, Milwaukee, Wisconsin, a business and accounting consulting firm, brought answers, insights and strategic moves on how to prepare for the annual tax impacts of 2024 affected by a tough economy and Washington’s political moves.

Devereux said, “As 2023 comes to a close, manufacturers will continue to face significant uncertainty around US tax laws. Congress has a history of making provisions of the tax code temporary to get around very complex budgeting requirements. The Tax Cuts and Jobs Act of 2017 (TCJA) made many taxpayer-friendly changes to the industry’s tax laws. Specifically, manufacturers greatly benefited from these changes, such as lower tax rates, 100% bonus depreciation and flexibility in their methods of accounting.”

On the flip side, the industry is feeling the tax pressures. He continued, “Congress enacted tax increases impacting the manufacturing sector in order to ‘pay for’ the tax breaks.

One such tax increase that manufacturers felt the impact of was the way companies are required to account for research expenditures. This can include engineering labor, new tooling and technological process improvements.”

“Beginning with tax year 2022, taxpayers are required to capitalize their research expenditures, amortizing them over five years, if the research is domestic, or 15 years if foreign research expenditures are incurred. This is a significant departure from companies deducting research expenditures as paid or incurred, which has been allowable since 1954,” said Devereux.

If a member of the tax-writing committee who authored the TCJA were asked, they would tell you that this provision was never meant to become effective. Congress would fix it in the five-year window before its effective date, Devereux shared.

“Well, the can was kicked down the road and many manufacturers saw a much larger tax bill this year,” he said.

“When viewed in a silo, fixing this issue is bipartisan; but US Congress does not legislate that way anymore.”

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With the end of the year approaching, the research expenditure fix, along with other provisions important to manufacturers such as the continuation of 100% bonus depreciation, is being

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t considered by Congress in a year-end tax extenders package.

While most manufacturers would be happy if Congress fixed it for 2023 and thereafter, current legislative language fixes the issue retroactively to the beginning of 2022, causing much ambiguity and uncertainty.

As for the new year outlook, Devereux said, “The 2024 election will significantly impact US tax law in the very near term. Many of the TCJA benefits enjoyed by manufacturers are expiring in 2025. Lawmakers must address these expiring provisions at the start of the 119th Congress, and the party that controls the White House and both houses of Congress will rule the day, extending or ending many of the tax provisions important to manufacturers. A split government is almost certain to create Congressional infighting, resulting in a last-minute tax bill that no one likes, passed by a Congress that didn’t read or understand the tax changes impacting US manufacturing.”

“The industry can mitigate the risks of this tax uncertainty with proper planning,” said Devereux. He shared tips to include tax professionals and run projections in multiple different ways – considering best-case and worst-case scenarios.

He continued, “Wipfli saw the 2022 tax increases surprise and impact the cash flow of many manufacturers. The income tax is a significant line item on most P&Ls, and planning should not just happen at year-end, but rather throughout the year.”

In closing, Devereux said, “It is important to understand how it will impact the cash flow and overall profitability of the business. By engaging in continuous planning, manufacturers are giving themselves enough time to execute those plans in a thoughtful manner.”

In the always-evolving mold manufacturing industry, companies need to prioritize and conduct a deep dive into every area of their company to build an impactful 2024 strategic plan. Developing a formalized strategic plan that takes on the ins and outs of contracts, addresses the labor market and focuses on tax initiatives will contribute to a company’s year-end success and the ability to effectively maneuver the lows and highs of the industry. n Reprinted with permission from Inside Rubber (www.arpminc.com). More information: www.icemiller.com, www.mrrecruiter.com, www.wipfli.com

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23

THE HIDDEN VALUE OF LEADERSHIP DEVELOPMENT

By Rachael Pfenninger, director of strategic execution, AMBA

Although many US mold manufacturers have decades of experience, most came up “through the ranks” – either as family members learning from earlier generations or through extremely specific training in areas like CNC machining, polishing, tool design or any number of other roles critical to the completion of a mold.

Because of this “learning-on-the-job” mentality, most of America’s mold manufacturing executives intimately understand the technical components of what it takes to make a mold, but often lack the management and leadership training that supports navigating today’s domestic and global moldmaking industry.

As running a mold manufacturing business grows more challenging amidst foreign competition, falling profitability and a shrinking workforce, today’s executives are realizing that the next generation will need more support than ever – particularly as companies look less for skilled labor and instead for employees that fit the company culturally and can be integrated into future succession plans.

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In consideration of this, the AMBA Emerging Leaders Network and its Advisory Board intentionally create annual opportunities for all emerging professionals to access some degree of management and/or leadership training. This year, one of those opportunities was offered in the form of a virtual series, provided by Kelly McDaniel, president of DeLisaGroup.

As a specialist in leadership and management skills training, as well as employee recruitment and retention strategies, McDaniel is uniquely positioned to provide valuable insight to AMBA’s emerging professionals. With her guidance, attendees of her recent virtual series, Management Fundamentals for Emerging Leadership, walked away with applicable methods for supervising and motivating others, communicating with peers, team leads and executives and managing others for accountability.

“Managers so often struggle with the right supervisory style, and without the right mentality or training, there can be enormous cost associated with misguided management,” explained McDaniel. “But with an understanding of the styles that are being employed vs. those that could be utilized, such a difference can be made in how one’s workforce feels, how its team members perform and, ultimately, how they impact the bottom line.”

McDaniel’s emphasis on supervisory style and its impact isn’t misguided. According to a Gallup study of one million workers cited by Inc., a whopping 75% of employees have

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espite the sophistication of the US mold manufacturing industry, many of its executives would not necessarily use the word “sophisticated” to describe themselves in terms of management skill or financial prowess. How is that possible in such a specialized and technical field where companies are handling millions in material annually and employing a workforce that becomes more varied by the day?

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“But with an understanding of the styles that are being employed vs. those that could be utilized, such a difference can be made in how one’s workforce feels, how its team members perform and, ultimately, how they impact the bottom line.” quit due to a poor manager. When coupled with research by the Society of HR Management (SHRM) that argues replacing an employee could be equal to 50-60% of that position’s annual salary, (Plus overall costs that range from 90-100% of that position’s salary!), suddenly the cost of leadership training – and the potential to keep all of those unhappy, mismanaged employees – becomes a significantly less expensive investment.

In addition to supervisory style, McDaniel addressed other skills critical for successful management, including communication flow and style and the development of listening as a skill. To work on these skills, McDaniel suggested that session attendees give this process (specifically, the “Describe and Ask” technique) a try in their working environment. For some who shared during a peerto-peer session the following week, practicing these skills turned out to be an eye-opening experience.

“I was really looking forward to this, and what I learned was actually two-fold,” stated Patrick Brisson, United Tool and Mold (Liberty, South Carolina). “First, the result of the exercise – practicing a questioning technique taught in one of our sessions – was that I realized I’m not spending enough time sharing good news with my team. I’m always focused on emergencies, and it has made the guys almost dread me coming into a room – which is obviously not what I want!”

Brisson went on to share more. “The second part of what I learned was larger than that though. I have to be more intentional with my team and about how I interact with them. Management isn’t just about ‘managing’ – the dayto-day job stuff. It’s about developing a relationship with each employee, understanding how I make him or her feel and then using that as a motivational tool. And honestly, this process helps our entire team and it makes me better at what I do, too.”

What Brisson highlighted about this experience goes beyond these sessions and touches on the mission of the AMBA

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Emerging Leaders Network, which is to provide continued development opportunities for emerging professionals within US mold manufacturing. Rarely are these one-off learning events! Session by session, attendees learn how to better support their teams, impact the bottom line and embrace all aspects of the business – not just the technical role for which they’ve been groomed.

2024 PREVIEW: CONFERENCE PRE-CON, LEADERSHIP RETREAT AND MORE In 2024, the AMBA Emerging Leaders Network will again plan a variety of connection and development opportunities for emerging professionals in US mold manufacturing. For those interested in meeting in person, it’s time to save the date for March 19, 2024, Grand Rapids, Michigan, when members will join a pre-conference session at AMBA Conference 2024 on building accountability, dealing effectively with conflict and tension and peer relationship management.

Later in the year, Network members will meet for its biannual Leadership Retreat, a one-and-a-half-day workshop that will guide attendees through leadership principles critical in manufacturing. n Stay tuned for more details on this event, set to take place in late June 2024, and other 2024 AMBA Emerging Leaders events at www.amba.org/events.

DeLisaGroup is a team of organizational development experts offering consult to a diverse range of businesses looking to improve their workplace culture and productivity.

For more information on how DeLisaGroup helps businesses and their managers, visit www.delisagroup.com or email info@delisagroup.com.

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1 [1] AMBA CONFERENCE 2024 – REGISTRATION NOW OPEN! March 19-21, 2024 | Grand Rapids, Michigan Registration is now open for AMBA Conference 2024 – Engage. Elevate. Evolve. During this annual industry event, hundreds of US mold manufacturers and industry partners come together to share best practices in business, workforce development strategies, new technologies, investments and more. Don’t miss this opportunity to engage with executives, management teams and emerging leadership, and impact the bottom line through peer connection and strategic guidance.

For more information about AMBA Conference 2024, visit pages 8-11 or www.ambaconference.com.

[2] PREPARE FOR 2024 WITH INDUSTRY-WIDE BENCHMARKING EFFORTS AMBA 2023 Wage and Salary Report AMBA has published its annual compensation study, which is the comprehensive representation of average, high and low wages across over 50 positions commonly found in US mold manufacturing. This year’s final report included trends in cost-in-living increases, incentives to attract qualified labor, efforts to mitigate the impact of inflation and vacation benefits, as well as personal insights provided by US mold builders and industry partners.

To purchase the 2023 Wage and Salary Report, visit www.amba.org/publications.

AMBA 2024 Business Forecast Survey – Now Open The 2024 Business Forecast Survey is now available to U.S. mold manufacturers. This annual survey gathers data on sales trends, profit levels, capital expenditures, shop and design employment levels and challenges faced in the industry. Data from this year’s report will be pulled from surveyed responses on 33 economic indicator questions that will cover 2023 performance, fourth-quarter performance and forecasts and expectations for 2024.

To participate in the 2024 Business Forecast Survey, visit www.amba.org/events.

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VIRTUAL EVENTS OFFER EXECUTIVE-LEVEL LEARNING OPPORTUNITIES Preparing for Automation in the Tooling Industry December 7, 2023 | 12-1 p.m. EST While many believe that automation is largely reliant on some sort of robotic CNC center, the truth is that automation is really a state-of-mind – and its successful adoption is dependent on step-by-step preparation, workforce development and an attitude focused on continuous improvement. Join to learn how a facility can prepare, standardize and measure its processes for successful automation implementation.

NEW: Business in 2024: Outlook and Insights December 13, 2023 | 12-2 p.m. EST AMBA has launched a first-time, end-of-year event to help US mold builders reflect on 2023 and prepare for 2024.

During this two-hour virtual meeting, attendees will receive an overview of current and anticipated industry-wide challenges, access insights from industry partners, including The Franklin Partnership (AMBA’s advocacy partner), Wipfli and Benesch Law. Exploring the Pillars of People Management January 23, January 30 and February 6, 2024 | 12-12:45 p.m. EST This executive-level series is designed to provide insight into workforce development tactics and attitudes that will help executives attract and retain talent while positively impacting bottom-line revenue. Join AMBA peers for these “30-minute insights” and learn how leaders can positively impact and build up their workforce in 2024.

2024 State of the Industry Address February 15, 2024 | 12-2 p.m. EST Join AMBA Executive Director Troy Nix as he breaks down the findings of the AMBA 2024 Business Forecast Report during AMBA's annual State of the Industry webinar.

The presentation will provide invaluable data, including industry performance, 12-month forecast for sales, capital expenditures, employment levels, profitability, trade and supply chain updates and more. Following Nix, Omar Nashashibi of The Franklin Partnership, AMBA's lobbying

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firm in Washington, D.C., will provide an update on current policies in Washington, D.C. and the anticipated challenges and opportunities for the US mold manufacturing industry, tariff updates and more These virtual events are available to AMBA members at no cost and will preview concepts to be covered at AMBA Conference 2024. For more information or to register, visit www.amba.org/events or contact Rachael Pfenninger at rpfenninger@amba.org.

CNC USERS GROUP SET TO LAUNCH IN Q1 2024 In 2024, AMBA will launch a CNC-specific users group that will address current technologies, best practices and challenges related to internal operations and CNC-specific processes. Driven by a steering committee of AMBA mold manufacturers, this users group will provide unique connections and learning opportunities for CNC operators, machinists and others. Stay tuned for details at www.amba. org/events.

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1320 Holmes Rd., Elgin, Illinois [3] THOUSANDS RAISED BY AMBA MEMBERS AT 2023 • Welding sales@ultrapolishing.com Ph: 847-352-5249 • Plating IWARRIORS GOLF OUTINGS www.ultrapolishing.com Fx: 847-352-4052 • Texturing AMBA members wrapped the year up with the 2023 United Tool and Mold Golf Outing, the third event of its kind this year, in philanthropic support of the iWarriors organization.

Similar events also were hosted in February 2023 by M.R. 2023_Ultrapollishing_AMBA_quarterpgV1.indd 1 2/14/2023 3:42:12 PM Mold & Engineering and in September 2023 by Alliance Specialties and Laser Sales. All together, these communityled efforts included 300 plus golfers, featured 110 plus sponsors and raised over $77,000 to iWarriors – which will help the organization assist severely injured members of every branch of the Armed Forces, by providing them with personalized tablets to aid in their return, recovery and reintegration.

Partnerships

To learn more about iWarriors, visit www.iwarriors.org.

NEW PARTNER Alro Steel 3100 E. High St. Jackson, Michigan 49203 Brian Glick, vice president Phone: 517.787.5500 Email: brglick@alro.com Website: www.alro.com Alro Steel is a distributor of metals, industrial supplies and performance plastics. Founded in 1948 in Jackson, Michigan, Alro offers cut-to-size metals and plastics with next-day delivery to over 50,000 customers in North America. Alro operates over 80 locations in 16 states and provides a broad inventory of products under the following companies: Alro Steel, Alro Metals, Alro Metals Outlet, Alro Industrial Supply and Alro Plastics. n www.americanmoldbuilder.com | AMBA.org

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US MOLD BUILDERS LOOK BEYOND FINANCIAL INCENTIVES TO ATTRACT AND RETAIN EMPLOYEES

By Rachael Pfenninger, director of strategic execution, AMBA

As a result, many domestic manufacturers find themselves somewhere between a rock and a hard place. As business continues to perform above expectations for many prime industries, such as medical, dental and optical markets, aerospace, defense and others, manufacturers must decide – do they give up on or delay business or do whatever it takes to fill open positions?

Many US manufacturers, unsurprisingly, have opted for the latter over the last few years. Not only does this mean that average wages have continued to rise year-over-year (despite the simultaneously increasing pressure of inflation, which, as seen in chart 1, peaked dramatically in 2022); in past surveys conducted by the American Mold Builders Association

Chart 1

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(AMBA), employers also have indicated their willingness to increase signing bonus opportunities, referral bonuses, merit increases and other financial incentives to sweeten the pot.

However, despite the continuing rise in wages and the distribution of other financial incentives, it seems that many US mold manufacturers are realizing this effort isn’t sustainable. According to AMBA member interviews and AMBA’s most recent wage data from its 2023 Wage and Salary Survey, for example, US mold manufacturers indicated the utilization of a variety of other employee incentive strategies that leverage a combination of the aforementioned financial incentives alongside a number of opportunities and benefits.

For example, while nearly one-fifth of respondents reported offering signed bonuses to new employees, a much higher percentage (nearly half) provide referral bonuses. This means that it’s the current employee that benefits more often than the new hire.

Another example of the balance between financial incentives versus other employee benefits is that, while the majority of employers (87%) have offered wage increases due to costof-living-adjustments, acrossthe-board salary increases and company profitability (Chart 2, page 33), over a third of 2023 survey respondents also have chosen to offer increased insurance coverage, while two-thirds are offering flexible schedules, which help address other employee pain points and needs (Chart 3, page 33).

Of all of the employee benefits cited in this year’s survey data, one of the most notable was that over 90% of this

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n recent months, the need for employees – in all areas of the US manufacturing operations – has risen to a fever pitch.

According to the Indeed Job Posting Index, employer demand in the manufacturing sector was 51.3% above pre-pandemic levels as of September 2023. When taking into account the pre-existing skills gap of 2.1 million job openings that existed before 2020, it’s clear that prospective employees continue to have the upper hand in today’s labor market.

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t had on the company’s workforce.

Chart 2

Chart 3

year’s responding companies reported offering employee development opportunities. Two members – Nicolet Plastics, LLC (Mountain, Wisconsin and Jackson, Wisconsin) and Prestige Mold, Inc. (Rancho Cucamonga, California) provided their perspective on why these alternatives – particularly employee development – are so important to company health and its ability to employ a stable workforce.

“When our company experienced an increase in turnover during COVID, our team recognized a need to go ‘back to the basics’ and determine how we could better support our team members,” explained Lisa Pichotta, director of human resources at Nicolet Plastics.

The company’s leadership team knew that something needed to be done, so it decided to sit down and tackle the problem head-on. “A cross-functional team was developed to drive this initiative forward. Those efforts led to the initiation of our Leadership Training Program (now in its third year) and the company’s ‘War for Talent’ project, out of which came incredibly impactful attraction and retention strategies,” Pichotta stated. “Today, our turnover percentage is significantly lower and we’re much more intentional about each team member’s development path, the investments we make as a company and the culture we cultivate.” Pichotta concluded that the new focus has been tremendously successful for Nicolet, which is reflected in the impact it’s

Todd Steging, the general manager at Prestige Mold, Inc., agrees with the impact that development and leadership opportunities can have on an employee’s loyalty and commitment to the company. “I know that others are struggling with factors like inflation and competition, but we’ve been really fortunate in that we made investments in our people and company early on,” Steging said.

“From the jump, we pay our employees competitively – but more than that, we give them opportunities to grow and we celebrate their accomplishments.

From employee satisfaction surveys and leadership development to investment in new technology and company transparency, we try to focus on and understand all of the features that can positively impact an employee’s experience.”

The payoff, according to Steging, has been low employee turnover and high employee engagement.

Although the percentage of US mold manufacturers still seeking employees for one or more positions has dropped slightly from 84% in 2022 to 78% this year, the battle for employees is likely to continue. So, whether it’s through professional development, exposure to new learning opportunities or some other employee incentivization strategy, manufacturers would be well-served to explore any opportunity that will help attract and retain employees – because it doesn’t look like the labor market is easing any time soon. n Every year, AMBA publishes its annual Wage and Salary Report, which highlights average, low and high wage rates across over 50 common positions in US mold manufacturing.

This year, the report also will highlight cost-of-livingadjustments (COLA), employee incentivization strategies, pay differentials, financial incentives, bonus structures and more.

To learn more and purchase a copy of the final report, visit www.amba.org.

www.americanmoldbuilder.com | AMBA.org

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HOW TO GET THE MOST OUT OF ATTENDING NPE2024

By Greg Hannoosh and Mark Malloy, Next Step Communications, Inc.

N

orth America’s biggest and best plastics event is back and NPE2024 is coming to Orlando from May 6-10.

2024. The folks at the Plastics Industry Association (PLASTICS) have been working hard to make sure the first NPE since 2018, will be the best yet. If you are one of the over 55,000 people projected to attend the show, congratulations – you’re in for a treat. NPE will provide you with countless opportunities to see and meet with industry suppliers, who can help your company improve its operations.

Attending NPE is a big investment. It’s an investment in terms of what it’s going to cost you for airfare, hotel, entertainment, etc.; but it’s also an investment in you and your company. If you do it right, you’ll come out of this show better informed about the latest products, technologies and trends in the plastics industry, with the contacts and information you need to help you and your company take its next steps forward.

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When you’re attending NPE, it is important – really important – that you do all you can to make the most out of your time at the show! Read on for some tried-and-true tips for getting the most out of attending NPE. PRE-SHOW First things first: Do you need your company’s approval to travel to and attend NPE? If you need to make your case to your company’s management team to attend NPE, the team at PLASTICS has come up with a cool “justification letter” template that you can use. To access the letter, visit https:// npe.org/first-time-attendees/.

If you’re going to NPE, congratulations! Let’s get started on some things you should do to get ready for the show.

Three “Musts”: 1. Book your travel and housing ASAP.

2. Plan and set goals for your time at the show.

3. Schedule meetings with suppliers and customers.

Booking your flight and hotel. Doing this early is important.

You’ll have a better chance of finding the right housing for your needs (price, location) and planning your travel dates by booking early. Start by visiting the NPE website and checking out the “Travel & Hotels” section under the “Attend” tab.

Planning your time at the show. There’s no better place than NPE to learn about new technology, machinery, equipment, etc. In North America, NPE is the biggest and best plastics industry event, and suppliers pull out all the stops. Most of them plan their new product introductions around the show.

The show is huge, and you have limited time to see what you want to see – so it is essential to plan and set goals. What are you coming to see? Primary machinery, like injection molding machines and extruders? Robotics and automation?

Auxiliary equipment? Materials?

Not everyone in your company can make the trip to Orlando, so ask what you can cover for them while you’re at the show.

Consider calling a meeting with co-workers to outline what you’re planning and ask if there’s anything important that they want you to see.

When talking with your customers, tell them you’re going to NPE. If they aren’t attending the show, ask them what suppliers, technology, etc. you can be looking for to help them. They’ll appreciate the offer.

Schedule meetings with suppliers and customers ahead of time. It’s a given that you’ll be visiting numerous booths at NPE and seeing a lot of people. But, if you’re hoping to actually meet with suppliers and customers at the show, whether it’s at the show or after hours, you need to reach out to them well in advance to schedule your meetings.

ATTENDING THE SHOW Three “Musts”: 1. Dress comfortably, bring business cards, charge your phone, etc.

2. Plan your day(s), see who you need to see and network, network, network.

3. Have fun!

those new shoes. Bring business cards as you’ll be doing a lot of interacting with suppliers and customers, and you want to be sure to get their contact information and give them yours.

Have your phone on you and charged – you’ll need it.

Plan your day(s), see who you need to see and network, network, network. Considering that NPE has over 2,000 exhibitors and 1.1 million sq. ft. of exhibit space, you need to plan your time at the show wisely. Start by making a list of the companies and/or types of suppliers you need to see.

While most of the machinery suppliers are in the west hall, and most of the material suppliers are in the south hall, there is a lot of crossover as well.

Once it is available, you’ll want to download and use the official “Map Your Show” app – this is a useful tool for tagging the booths you want to visit. This app has a lot of helpful information and allows you to quickly find exhibitors, sort them by type of supplier, etc.

When visiting booths at the show, you’re likely to meet the top management of some of the exhibiting companies. Once again, make sure you have your business cards and be sure to swap cards with these people. Going forward, should you choose to do business with these companies, it is a good thing to have the contact information for the top people.

As for network, network, network, make sure to connect with colleagues during the show and after hours. There are a lot of vendor events, both at exhibitor booths and offsite, so find the ones that interest you and try to attend. You are sure to meet a lot of interesting people, and the opportunity to see this many plastics-industry colleagues in one location doesn’t happen often.

Have fun! That’s right, have fun. This is a great event, and you should enjoy it as much as you can.

POST SHOW Three “Musts”: 1. Document what you saw and what you learned.

2. Follow up by tackling your to-do list.

3. Watch the post-show industry news.

Dress comfortably, bring business cards, charge your phone, etc. All of this goes without saying, but we’ll say it anyway because these are things that truly can make or break your time at the show!

Document what you saw and what you learned. You can start doing this while at the show, but once you’re back from attending NPE, make sure to put together a post-show summary of what you learned. You can review this with your company’s team and with your customers. By putting it down in writing, it will be easier to remember some of the valuable information you gained by attending the show.

Wear comfortable clothes and shoes. You’ll be doing a lot of walking, and this is not the time or the place to be breaking in

Follow up by tackling your to-do list. You will meet and talk with a lot of people at the show. Be sure to follow up

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www.americanmoldbuilder.com | AMBA.org

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Registration Open!

2024

March 19-21 | Grand Rapids, MI

Engage. Elevate. Evolve.

MARCH 19 - 21, 2024 AMWAY GRAND PLAZA | GRAND RAPIDS, MI

ambaconference.com

Visit AMBA at NPE2024!

May 6-10, 2024 | Booth #S37129 36

the american MOLD BUILDER | Issue 4 2023

t with all of them if you promise to do so. Again, it was a big investment for you to attend NPE, so make sure to get the most out of it by following up on leads and interaction you had from the show.

Watch the post-show industry news. With NPE, you simply cannot see it all. You’ll see a lot while you’re there, but the fact of the matter is, it’s impossible to get all of the news and developments coming out of the show. For this reason, make sure to subscribe to the various industry trade publications (like this one!). They all do a great job covering the new technology from NPE. The coverage usually is by process (extrusion, injection, etc.) so it’s easier to find the specific technology news you’re looking for.

CONCLUSION At the beginning of this article, we said that “if” you’re attending NPE it is important that you do all you can to make the most out of your time at the show. We hope we’ve provided you with some helpful tips for doing just that! n

The show is huge, and you have limited time to see what you want to see – so it is essential to plan and set goals. serving clients in the plastics industry. Hannoosh has supported clients at every NPE show since 1988, and Malloy since 1994. As president of Next Step, Hannoosh manages day-to-day operations and client relationships and guides marketing program strategy to ensure all deliverables exceed expectations. Malloy has spent his entire career in the plastics industry and joined Next Step as a partner and equity stake holder in April 2021.

More information: www.npe.org and www.next-step.com Reprinted with permission from (www.plasticsbusinessmag.com).

Plastics

Business

Greg Hannoosh and Mark Malloy are partners in Next Step Communications, Inc., a marketing firm specializing in

THEY GAVE THEIR ALL. LET’S GIVE SOME BACK. The iWarriors mission is to honor severely injured soldiers from all branches of the Armed Forces by providing personalized tablets and technology to aid in their rehabilitation and recovery.

Support is from the American Mold Builders Association, MoldMaking Technology, and suppliers.

THANK YOU!

For raising $75,000 at your 2023 Golf Outings!

SAVE THE DATE! MR MOLD GOLF OUTING - FEB 9, 2024 - FOLLOWING PLASTEC WEST/MD&M REGISTRATION & SPONSORSHIP: iWARRIORS.ORG/GOLF www.americanmoldbuilder.com | AMBA.org

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[1] EIFEL CELEBRATES 50 YEARS Eifel Mold & Engineering, Fraser, Michigan, provides molds and engineering services to the automotive and consumer goods industries, celebrates 50 years in business this year.

Josef Hecker, a German-born pattern and model maker, founded Eifel Mold & Engineering in 1973; and in the early 1990s, his son, Rick Hecker, took over inspiring growth in both size and capabilities. Over the years, Eifel developed a reputation in complex injection molds from airbag covers to housings and steering wheels. Today, with Hecker’s son Eric in a sales/program management role and Eifel veteran Michael Nye in the general manager role, Hecker has the company poised for the next big thing. For more information, visit www.eifel-inc.com.

[2] INDUSTRIAL INNOVATIONS ACQUIRES ADVANCE PRODUCTS Industrial Innovations, Inc., Grandville, Michigan, a manufacturer of metalworking spray lubrication and diecasting automation, has announced its acquisition of Advance Products Corporation. This strategic move expands the company’s footprint by purchasing Advance Products consumable die-casting products and systems, including ladle cups, die clamps, hand sprayers, shot sleeves, plunger rods, plunger tips and die lubrication systems and reclaimers.

For more information, visit www.industrialinnovations.com.

NPE2024 REGISTRATION IS OPEN NPE2024: The Plastics Show registration now is open through May 2024. NPE2024 will be held May 6-10, 2024, at the Orange County Convention Center in Orlando, Florida.

It will be the most impactful trade show of the year for all plastics industry sectors in the US and globally. Every three years, NPE offers the plastics industry a global platform and attendees will gain exclusive access to machinery and equipment, raw materials, recycling and sustainability, automation and robotics, 3D and 4D printing, inspection, design and more. For more information, visit www.npe.org.

MICHIGAN MOLDER PAYS IT FORWARD West Michigan Chapter of American Mold Builders Association held its annual golf outing at the Boulder Creek Golf Club on August 11, where a portion of the proceeds go to support the West Michigan Chapter’s Scholarship 38

the american MOLD BUILDER | Issue 4 2023

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Fund. For the event, a toolbox was donated by Nemic Industrial Supply to be part of a drawing. Tony Messing of OP X Consulting, Inc., won and donated the toolbox back to be given to an apprentice. With that, Cody Cederquist an apprentice with Commercial Tool Group, won the toolbox.

For more information, email amba.westmi@gmail.com.

[3] KONGSBERG LAUNCHES CUSTOMER EXPERIENCE CENTER Kongsberg Precision Cutting Systems, Miamisburg, Ohio, a provider of digital cutting and Computer Numerical Control (CNC) solutions, has launched a state-of-the-art Customer Experience Center diversified to include both brands Kongsberg and MultiCam. The center showcases the power and precision of a range of featured machines, including the Kongsberg C64 with automated feeder and stacker, the Kongsberg C66 with complete roll-to-roll production, the Kongsberg C20, X44 and X24 tables, as well as the MultiCam Apex3R, MultiCam Apex1R and 1000 Series Waterjet machines. For more information, visit www.kongsbergsystems.com or www.multicam.com.

[4] OKUMA ANNOUNCES NEXT-GENERATION PARTNER PROGRAM Okuma America Corporation, Charlotte, North Carolina, a global builder of CNC machine tools, controls and automation systems, announced its next-generation program, “Partners in Technology,” designed for an elite group of companies that provide best-in-class technologies to augment Okuma products. The program is an evolution of the company’s former Partners in THINC Program and structured to offer more benefits to Okuma users and the program’s 40-plus member partner companies. Originally launched in 2007, the Okuma partner program includes a collaborative network of companies that provide products, services and support for the metal-cutting and manufacturing industries. Okuma’s Partners in Technology program focuses on maximizing machine tool production, profitability and performance. For more information, visit www.okuma.com/partners.

[5] STARRETT APPOINTS DOWNING, U’GLAY AND VILLEGAS The L.S. Starrett Company, Athol, Massachusetts, a global manufacturer of precision measuring tools and gages, metrology systems, saw blades, power tool accessories and

4 more, has appointed Seth Downing as strategic accounts manager of industrial products for North America, and Christopher U’Glay and Coby Villegas as US territory managers. With more than 10 years of experience in tool manufacturing, Downing has worked in the industrial, retail and automotive channels. U’Glay has 27 years of territory sales and sales management experience in commercial and industrial distribution; he oversees New Jersey, Maryland, Delaware and eastern Pennsylvania. Villegas has over 20 years of manufacturing and project management experience and spent 10 years as a civil affairs specialist in the US Army; he oversees southern Texas and southern Louisiana.

For more information, visit www.starrett.com.

[6] ANCA’S TOOL OF THE YEAR AWARDS ANCA, Wixom, Michigan, manufacturer of CNC grinding machines, held its 2023 Tool of the Year Awards at EMO Hannover, marking its sixth year. EMUGE-FRANKEN, West Boylston, Massachusetts, a German cutting tool manufacturer, took first prize in the Made on ANCA category, for their multi-functional carbide tool infused with ceramic material, promising extended tool life and unparalleled performance. The Made on ANCA category’s second-place winner was ARCH Cutting Tools and the third-place winner was TDM Cutting Tools. JG Group from Poland secured first place in the Virtual Tool Category for the second consecutive year, with an impressive simulation of a Dachshund – more commonly known as the sausage dog, that used 24 profiles just to create the head of its character.

The Virtual Tool category’s second-place winner was Hengrui Precision Tools (Jiaxing) and the third-place winner was ZMK Kazimieruk. The inaugural Female Machinist of the Year Award, an initiative aimed to promote diversity in the cutting tool industry and provide positive role models for women and girls, was received by Lena Risse from Risse Tool Technology GmbH. For more information, visit www. machines.anca.com.

MEUSBURGER RELEASES NEXT LEVEL PORTAL Meusburger, Mint Hill, North Carolina, a global manufacturer of high-precision standard parts, has released a new online portal that runs parallel to the previous version bringing next-level access to the online world. The first version of the

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portal is just the beginning with features, including a timesaving design in navigation for a user-friendly experience; simple order processing with the “My Account” section and access to all order data and receipts; efficiency through the product or order search and filter functions; and a responsive design that enables mobile use directly in the workshop. In the future, customers can look forward to many more portal features that will help them reach their goals even faster. For more information, visit www.meusburger.com/portal-en. n

NEW! Mold Repair Starter Kit! This convenient, all-in-one mold repair & polishing kit includes a variety of our most popular products to get you from start to final finish. Item # 90800

BorideAbrasives.com • info@borideabrasives.com • 231.929.2121

www.americanmoldbuilder.com | AMBA.org

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Congratulations to the AMBA

on 50 Years!

DME.net

STRATEGIC WORKFORCE MANAGEMENT: THE ATR FRAMEWORK

By Torsten Kruse, founder and president, Kruse Analysis, Inc. and Kruse Training, Inc.

The Attract – Train – Retain (ATR) Framework is a strategic approach to workforce management that underscores the interconnected nature of attracting top talent, developing their skills and expertise and retaining them for the long haul.

Each element feeds into the others, creating a harmonious strategy aimed at achieving organizational excellence.

ATTRACT: DRAWING IN TOP TALENT The first component of the ATR Framework, “Attract,” is centered on the art of drawing top-tier talent into the organization. In a world where competition for talent is tight, organizations must employ innovative strategies to set themselves apart and appeal to the brightest minds.

This begins with modernizing perceptions of the industry and showcasing its innovative facets, automated processes and promising career growth opportunities.

Key Strategies for Attracting Top Talent ● Modernize Perception: The manufacturing industry often suffers from outdated stereotypes. To attract talent, it’s vital to address these misconceptions by highlighting the industry’s cutting-edge technologies and career prospects. ● Technology Showcases: Organize open houses or events that showcase cutting-edge technologies. Robotics and computer simulation technology can ignite excitement and interest among prospective employees.

● Educational Partnerships: Collaborate with schools, colleges and vocational programs to help demonstrate the practical applications of manufacturing and injection molding. Encouraging students and parents to consider careers in these fields. ● Competitive Compensation: Emphasize the earning potential and job stability within the manufacturing sector to pique the interest of potential employees.

TRAIN: DEVELOPING SKILLS AND EXPERTISE “Train,” the second pillar of the ATR Framework, focuses on nurturing the skills and expertise of the workforce.

In today’s rapidly evolving landscape, employees must continually develop and adapt to stay relevant. Effective training programs are essential to equip employees with the knowledge and skills needed to excel in their roles.

Key Strategies for Developing Skills and Expertise ● Continuous Learning: Cultivate a culture of continuous learning within the organization. Provide employees with access to relevant training and development resources to keep their skills up to date. ● Personalized Development Plans: Recognize that each employee has unique strengths and weaknesses. Tailor development plans to individual needs and career goals, fostering a sense of investment in their growth. ● Focused/Micro-Learning: Implement clear and concise learning methods that promote results. Short, targeted learning modules can be particularly effective in enhancing specific skills. ● Reinforce Theoretical Learning: Combine theoretical learning with real-world examples, virtual reality lab lessons and hands-on experiences. This practical

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n an era defined by rapid technological advancements and evolving workplace dynamics, the success of any organization hinges on its ability to strategically manage its workforce.

www.americanmoldbuilder.com | AMBA.org

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PUT YOUR SHOP ON THE MAP

Take your business to the next level by winning the Leadtime Leader Award presented by MoldMaking Technology. You don’t have to be the biggest or fastest. It’s about what you do with what you have.

Shop nominations end January 1, 2024.

SCAN TO NOMINATE YOUR SHOP TODAY

For complete information, eligibility requirements and nomination forms, please contact Christina Fuges at cfuges@gardnerweb.com or (800) 579-8809 or visit short.moldmakingtechnology.com/leadtimeaward

LTL24_AMBA_Ad.indd 2

11/2/23 10:47 AM

t approach enhances understanding and retention of complex materials.

RETAIN: KEEPING YOUR EMPLOYEES The final element, “Retain,” underscores the critical importance of retaining valuable talent once they are part of the organization. High employee turnover can be detrimental to productivity and organizational stability. Therefore, creating an environment that fosters retention is paramount.

Key Strategies for Retaining Employees ● Enhanced Collaboration: Crosstraining employees fosters a collaborative work environment. It also reduces the risk of operational disruptions when employees leave the company or new team members are onboarded, as multiple employees can perform essential tasks. ● Career Pathways: Establish clear and structured career paths within the injection molding industry. Show new employees how they can start at entry-level positions and progress to more skilled roles with increasing

responsibilities and rewards. This provides a sense of direction and purpose. ● Workplace Culture: Cultivate a positive and inclusive work environment. Highlight the benefits of teamwork, problem-solving and the sense of accomplishment that comes with creating tangible products. A strong workplace culture can contribute significantly to employee satisfaction and retention.

In conclusion, this framework – Attract, Train and Retain – serves as a holistic strategy for strategic workforce management. In an ever-changing business landscape, attracting top talent, continuously developing their skills and retaining them are essential for organizational success.

By interweaving these elements and implementing the key strategies outlined in each category, organizations can build a workforce that not only excels in the present but also adapts and thrives in the future. Embracing these elements is a proactive step towards ensuring sustained excellence and competitiveness in the modern business world.

TRENDS IN TRAINING FOR MOLD BUILDERS In the ever-evolving landscape of mold design and manufacturing, staying abreast of the latest trends and technologies is crucial for mold builders in 2024. We had the opportunity to explore these issues during the recent TechXellence Training Summit.

technologies is essential in ensuring quality and staying competitive.

Here are some insights shared by industry experts:

Before embarking on a new training program, mold companies should consider several essential questions. First and foremost, they should assess the benefits the program will bring to the organization. Beyond this, it’s crucial to determine if all employees require this training.

What are the trends in training programs and technologies that mold builders should look for in 2024?

In 2024, the mold building industry is witnessing a shift towards a more inclusive training approach that encompasses all facets of the mold design process. It’s becoming increasingly vital for mold designers to possess knowledge not only in mold construction but also in plastics, part design and processing. This “Circle of Knowledge” holistic approach allows designers to optimize their creations before the mold building process begins.

What questions should mold companies ask before deciding on and starting a new training program(s)?

In today’s fast-paced industry, continuous learning is key, making training a cultural component rather than a one-

Furthermore, the use of Computer-Aided Engineering (CAE) simulations is gaining prominence. These simulations go beyond analyzing polymer flow and warpage to ensure part quality. They also encompass Computational Fluid Dynamics (CFD) simulations and mold thermal analysis to guarantee well-designed water circuits and uniform cooling, ensuring the mold’s optimal performance. Embracing modern design

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DON'T LEAVE MONEY ON THE TABLE amba members saved an average of $6K in mro spend in 2022 -

$4,800 more than average member dues.

Get involved to start saving today.

AMBA.org.

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By ensuring that all employees are re-skilled and updated on new design and mold-building technologies, a company can create a versatile pool of talent that can be flexibly deployed within the organization. time event. By ensuring that all employees are re-skilled and updated on new design and mold-building technologies, a company can create a versatile pool of talent that can be flexibly deployed within the organization. This not only enhances the company’s adaptability but also fosters a more dynamic work culture, encouraging cross-departmental collaboration, team spirit and resilience in case of personnel changes.

What are three ways mold companies can improve their training practices and methods?

Torsten Kruse is the founder and president of Kruse Analysis, Kruse Training and the highly anticipated VR innovation, Molding Expert. With an illustrious career spanning nearly three decades, Kruse has played a pivotal role in advancing injection molding, offering cutting-edge CAE simulation services, software applications and premier online training for design and process engineers. Before starting his own companies, Kruse had a successful seven-year career with Arburg, Inc., working on various molding applications and developing and delivering training programs in Germany and the US. The Kruse Training platform offers invaluable learning opportunities tailored to novices entering the field and professionals seeking to enrich their expertise. Kruse is dedicated to imparting intricate nuances of injection molding to aspiring part designers, mold designers and process engineers.

More information: www.krusetraining.com

Mold companies can enhance their training practices and methods by adopting the following strategies: 1.

Accessible Training Systems: Implement a training system that can be accessed anytime, anywhere and on any device. Accessibility to information is crucial in a rapidly evolving and fast-paced industry. Providing employees with immediate access to focused learning materials, including micro-lessons, enables efficient training and optimizes the balance between learning and work responsibilities.

2.

Continuous Learning Culture: Promote a culture of continuous learning within the organization. Training should not be viewed as a one-time event but rather as an ongoing commitment to staying ahead of industry developments. Encourage employees to seek out new knowledge and skills, fostering a workplace culture that values growth and adaptability.

3.

Crosstraining: Encourage crosstraining among employees. This not only broadens individual skill sets but also creates a workforce that can seamlessly transition between roles, departments, and projects.

Crosstraining enhances teamwork, builds stronger relationships among employees and ensures that the organization remains resilient in the face of challenges.

Incorporating these strategies into their training practices will empower mold companies to thrive in an industry marked by continuous innovation and change. n

www.americanmoldbuilder.com | AMBA.org

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DECEMBER Preparing for Automation in the Tooling Industry, December 7, www.amba.org/events Business in 2024: Outlook and Insights, December 13, www.amba.org/events JANUARY Overview and Part 1: Three Tactics for People Management, January 23, www.amba.org/events

Plastec West 2024, February 6-8, Anaheim, California, www.imengineeringwest.com AMBA 2024 State of the Industry Webinar, February 15, 12-2 p.m. EST, www.amba.org/events MARCH AMBA Conference 2024, Grand Rapids, Michigan, March 19-21, www.ambaconference.com

Part 2: Three Tactics for People Management, January 30, www.amba.org/events FEBRUARY Part 3: Three Tactics for People Management, February 6, www.amba.org/events

Alliance Specialties and Laser Sales ........................................ www.alliancelasersales.com........................................................7 AMBA 50th Anniversary ......................................................... www.amba.org..........................................................................40 AMBA Conference 2024 Register Now................................... www.ambaconference.com.......................................................36 BORIDE Engineered Abrasives ............................................... www.borideabrasives.com........................................................39 Crystallume, a Division of RobbJack Corporation................... www.crystallume.com...............................................................25 DME ......................................................................................... www.dme.net..............................................................Back Cover Dynamic Surface Technologies................................................ www.dynablue.com......................................... Inside Back Cover Federated Insurance.................................................................. www.federatedinsurance.com...................................................27 Grainger.................................................................................... www.grainger.com....................................................................44 GROB Systems......................................................................... www.grobgroup.com.................................................................20 HASCO America, Inc............................................................... www.hasco.com........................................................................13 INCOE Corporation.................................................................. www.incoe.com.........................................................................31 iWarriors .................................................................................. www.iwarriors.org.....................................................................37 Moldmaking Technology.......................................................... www.short.moldmakingtechnology.com/leadtimeaward..........42 NPE2024................................................................................... www.npe.org/AMBA................................................................22 PartnerShip................................................................................ wwwpartnership.com/AMBA-FedEx.......................................32 PCS Company........................................................................... www.pcs-company.com............................................................16 Plastic Engineering & Technical Services, Inc......................... www.petsinc.net..........................................................................3 Progressive Components .......................................................... www.procomps.com........................................Inside Front Cover Regal Components.................................................................... www. regalcomps.com..............................................................21 Swiss Steel Group..................................................................... www.swisssteal-group.com.......................................................23 The American Mold Builder..................................................... www.americanmoldbuilder.com...............................................29 Ultra Polishing, Inc................................................................... www.ultrapolishing.com...........................................................29 Vincent Tool.............................................................................. www.vincenttool.com...............................................................45 Wisconsin Engraving Co. Inc./Unitex...................................... www.wi-engraving.com............................................................19

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the american MOLD BUILDER | Issue 4 2023

DRY ICE ENERGY

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