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Maximizing Manufacturing Margins with Value Engineering Balancing Cost Reduction, Process Improvement, and Product Value
Maximizing Manufacturing Margins with Value Engineering Balancing Cost Reduction, Process Improvement, and Product Value Manufacturers large and small all hope to achieve the same thing: manufacture more products, with higher margins. Of course, in order to build a lasting business, you need to keep customers satisfied, meaning the quality of products must remain high when you make moves to reduce costs. The best way to reduce costs and improve processes without diminishing the quality of your product is through a process called Value Engineering. Value Engineering is a process used by companies across the globe to ensure product functionality is maximized while costs are minimized. By incorporating Value Engineering into your product development process, you’ll reduce costs, increase margins, and establish a smarter way to determine which new products justify the investment to bring them to market. FortéOne has been helping middle market companies conduct a value analysis and implement Value Engineering in their organizations for 20 years. By leveraging the experience of our people, who have installed Value Engineering in companies across many industries, we have developed a four-step process for incorporating Value Engineering into middle market organizations that avoids the most common challenges companies face during its implementation. Explained below are the lessons we have learned. What is Value Engineering? Value Engineering starts with product value. Product value is the ratio of product function to product cost (including the purchase of raw materials and packaging, logistics and shipping costs, overhead and manpower, and line efficiency). Product function is the work a product is designed to perform. -
Mining Engineering 1
Mining Engineering 1 Learn more about the bachelor’s degree in mining engineering (https:// MINING ENGINEERING uaf.edu/academics/programs/bachelors/mining-engineering.php), including an overview of the program, career opportunities and more. B.S. Degree College of Engineering and Mines As the nation’s northernmost accredited mining engineering program, Department of Mining and Geological Engineering (https://cem.uaf.edu/ our mission is to advance and disseminate knowledge for exploration, mingeo/) evaluation, development and efficient production of mineral and energy 907-474-7388 resources with assurance of the health and safety of persons involved and protection of the environment, through creative teaching, research Programs and public service with an emphasis on Alaska, the North and its diverse peoples. Degree • B.S., Mining Engineering (http://catalog.uaf.edu/bachelors/ The mining engineering program emphasizes engineering as it applies bachelors-degree-programs/mining-engineering/bs/) to the exploration and development of mineral resources and the economics of the business of mining. The program offers specializations in exploration, mining or mineral beneficiation. Minor • Minor, Mining Engineering (http://catalog.uaf.edu/bachelors/ Students are prepared for job opportunities with mining and construction bachelors-degree-programs/mining-engineering/minor/) companies, consulting and research firms, equipment manufacturers, investment and commodity firms in the private sector, as well as with state and federal agencies. The mining engineering program educational objectives are to graduate competent engineers who: • apply their engineering skills and knowledge with consideration to health, safety and the environment, • pursue careers in mineral-related industries, • are active among the local and professional mining communities, and • seek professional advancement of mining engineering technology and practices. -
Managing Cost and Delivering Savings in Professional Services Agenda
Managing Cost and Delivering Savings in Professional Services Agenda • Introductions • Objectives & Background • Building Blocks • Types of Fee Arrangements • Case Studies • Conclusion Speaker Bios Kala Bhatt • Current Head of IP & Legal Controlling for BASF Corporation • Over 20 years of diverse experience in Finance • Received a B.S. in Accounting (Rutgers University) • Active, licensed CPA Fred Paulmann • Founder of The Counsel Management Group, LLC • Served as the Director of Law Firm Management at Pfizer • Previously worked at a NY law firm (Kaye Scholer) • Received his BA from Boston College, JD from New York University, and MBA from New York University Background Emerging Trends in Finance “Data and analytics” represent the top strategic priority for CFOs, according to a recent survey 1 “Cost reduction is a focus of most companies globally (86 percent)”2 but “nearly two-thirds (63 percent) of organizations are failing to meet their goals”2 in this area. Evolving role of Finance: data “black belts”, change agents, fiscal discipline for savings, strong ROI to invest in growth 1 http://engage.kornferry.com/2018-cfo-pulse-survey 2 https://www.mindtools.com/pages/article/newCDV_52.htm Q&A with Kala • How would you describe the focus on cost management at BASF? • What do your colleagues want / need? • What are the challenges? Professional Services • Professional services and external expertise will be critical for future change and growth opportunities • Include accountants, financial advisers, lawyers, advertising professionals, architects, engineers, and consultants, among others • Usually provide skills / expertise that cannot be found, or in short supply in-house – highly specialized and often expensive • However, professional services can be costly and be difficult to forecast depending on the engagement Presentation Objectives 1. -
Engineering Merit Badge Workbook This Workbook Can Help You but You Still Need to Read the Merit Badge Pamphlet
Engineering Merit Badge Workbook This workbook can help you but you still need to read the merit badge pamphlet. This Workbook can help you organize your thoughts as you prepare to meet with your merit badge counselor. You still must satisfy your counselor that you can demonstrate each skill and have learned the information. You should use the work space provided for each requirement to keep track of which requirements have been completed, and to make notes for discussing the item with your counselor, not for providing full and complete answers. If a requirement says that you must take an action using words such as "discuss", "show", "tell", "explain", "demonstrate", "identify", etc, that is what you must do. Merit Badge Counselors may not require the use of this or any similar workbooks. No one may add or subtract from the official requirements found in Scouts BSA Requirements (Pub. 33216 – SKU 653801). The requirements were last issued or revised in 2009 • This workbook was updated in June 2020. Scout’s Name: __________________________________________ Unit: __________________________________________ Counselor’s Name: ____________________ Phone No.: _______________________ Email: _________________________ http://www.USScouts.Org • http://www.MeritBadge.Org Please submit errors, omissions, comments or suggestions about this workbook to: [email protected] Comments or suggestions for changes to the requirements for the merit badge should be sent to: [email protected] ______________________________________________________________________________________________________________________________________________ 1. Select a manufactured item in your home (such as a toy or an appliance) and, under adult supervision and with the approval of your counselor, investigate how and why it works as it does. -
Scottmadden's New Energy Industry Update Provides a Comparison Of
ScottMadden’s New Energy Industry Update Provides a Comparison of Utility-Scale and Distributed Renewables Shaping a Path Toward High-Renewable Penetration ATLANTA, GA – (November 14, 2019) – ScottMadden, Inc., one of North America’s leading management consulting firms specializing in energy, recently released its latest edition of The ScottMadden Energy Industry Update (EIU). Themed “Everything Counts … In Large Amounts,” this EIU explores key considerations for utilities in balancing or prioritizing development of utility-scale versus distributed renewable resources. “Large amounts” of renewable resources are on the horizon, constituting a big part of interconnection queues across the nation. But what should the balance be between utility-scale and distributed renewables? Depending on what’s in the ground and policy incentives, focusing on utility-scale resources may make sense for many utilities. As the EIU highlights, the growth of renewables is shaped by many drivers, including state policy, resource availability, technology costs, geography, and customer preferences. As more states transition to high-renewable energy penetrations, utilities will need to be nuanced in their thinking about the best portfolio of products to offer their customers. There are several criteria—including cost, speed to scale, and grid integration—that point toward leveraging utility-scale resources. For a utility that has yet to set a direction, these factors provide a compelling rationale to pursue a strategy comprised predominantly of utility-scale renewables. “For utilities in states without a significant penetration of solar, utility-scale solar offers them the opportunity to shape their own future and improve their product offering to customers,” explains Sean Lawrie, partner at ScottMadden. -
Reflections on a Transformative Year for the Industry and Our Practice
February 2020 Reflections on a transformative year for the industry and our practice CRA’s Energy Practice experienced strong growth in 2019, reflecting the increasingly complex issues facing the industry. Below, we summarize a few representative engagements for the year, share a list of publications including our colleague Seabron Adamson’s new book on renewable energy finance, and look ahead to emerging issues for 2020. We appreciate the opportunity to assist our clients by providing strategic, economic, and financial expertise on energy issues the worldwide. Representative 2019 Engagements Utility strategy, investment planning, and regulatory support In 2019, CRA supported numerous investor-owned and publicly owned utilities with strategy, planning, and expert testimony. This included developing resource plans for utilities considering coal retirements and evaluating investment opportunities with renewables and storage; grid modernization plans for utilities seeking to demonstrate the benefits to their regulators and limit future recovery risk; corporate strategy for gas and electric utilities facing headwinds on natural gas investment; and decarbonization plans for utilities planning around state policies. CRA experts filed testimony in numerous utility proceedings. For Black Hills Energy, Jim McMahon filed testimony on qualifying facility (QF) policy related to a proposed solar plant in the state of South Dakota. For Liberty Utilities, Mr. McMahon filed testimony in a Certificate of Public Convenience and Necessity (CPCN) proceeding involving construction of a wind farm. For NIPSCO, Patrick Augustine filed testimony in four CPCN applications for wind projects and a general rate case in the state of Indiana. CRA experts also supported stakeholder processes on behalf of several utilities. -
Information Technology and Business Process Redesign
-^ O n THE NEW INDUSTRIAL ENGINEERING: INFORMATION TECHNOLOGY AND BUSINESS PROCESS REDESIGN Thomas H. Davenport James E. Short CISR WP No. 213 Sloan WP No. 3190-90 Center for Information Systems Research Massachusetts Institute of Technology Sloan School of Management 77 Massachusetts Avenue Cambridge, Massachusetts, 02139-4307 THE NEW INDUSTRIAL ENGINEERING: INFORMATION TECHNOLOGY AND BUSINESS PROCESS REDESIGN Thomas H. Davenport James E. Short June 1990 CISR WP No. 213 Sloan WP No. 3190-90 ®1990 T.H. Davenport, J.E. Short Published in Sloan Management Review, Summer 1990, Vol. 31, No. 4. Center for Information Systems Research ^^** ^=^^RfF§ - DP^/i/gy Sloan School of Management ^Ti /IPf?i *''*'rr r .. Milw.i.l. L T*' Massachusetts Institute of Technology j LIBRARJP.'Bh.^RfES M 7 2000 RECBVED The New Industrial Engineering: Information Technology and Business Process Redesign Thomas H. Davenport James E. Shon Emsi and Young MIT Sloan School of Management Abstract At the turn of the century, Frederick Taylor revolutionized the design and improvement of work with his ideas on work organization, task decomposition and job measurement. Taylor's basic aim was to increase organizational productivity by applying to human labor the same engineering principles that had proven so successful in solving technical problems in the workplace. The same approaches that had transformed mechanical activity could also be used to structure jobs performed by people. Taylor, rising from worker to chief engineer at Midvale Iron Works, came to symbolize the ideas and practical realizations in industry that we now call industrial engineering (EE), or the scientific school of management^ In fact, though work design remains a contemporary IE concern, no subsequent concept or tool has rivaled the power of Taylor's mechanizing vision. -
Modern Challenges in the Electronics Industry
Volumen 41 • No. 19 • Año 2020 • Art. 19 Recibido: 12/02/20 • Aprobado: 14/05/2020 • Publicado: 28/05/2020 Modern challenges in the electronics industry Desafíos modernos en la industria electrónica GAVLOVSKAYA, Galina V. 1 KHAKIMOV, Azat N.2 Abstract The paper analyzes the challenges and current trends in the global electronic industry, carries out a literature review and highlights the gaps in the study of the features of the development of world radio electronics. The article gives a brief historical review of the electronic industry development, provides a characteristic of the modern world electronics market and considers the most important challenges and current trends in the development of the electronic industry. key words: Electronic industry, radio electronics, digital economy, microelectronics. Resumen El documento analiza los desafíos y las tendencias actuales en la industria electrónica mundial. Lleva a cabo una revisión de la literatura y destaca las lagunas en el estudio de las características del desarrollo de la radio electrónica mundial. El artículo ofrece una breve reseña histórica del desarrollo de la industria electrónica, proporciona una característica del mercado electrónico mundial moderno y considera los desafíos más importantes y las tendencias actuales en el desarrollo de la industria electrónica. Palabras clave: industria electrónica, electrónica de radio, economía digital, microelectrónica. 1. Introduction 1.1. Relevance of the research Electronic industry as a machine-building sector today is one of the state’s competitiveness factors in the global market, an instrument for ensuring the economic development of the state in the conditions of an unstable environment and an engine of economic growth for other sectors of industry. -
ENGR 100 Introduction to Engineering 3 Units (2 Lecture + 1 Lab) Prerequisite: Trigonometry
ENGR 100 Introduction to Engineering 3 Units (2 lecture + 1 lab) Prerequisite: Trigonometry Course Description: This course explores the branches of engineering, the functions of an engineer, and the industries in which engineers work. The course explains the engineering education pathways and explores effective strategies for students to reach their full academic potential. The course presents an introduction to the methods and tools of engineering problem solving and design including experimentation, data analysis, computer and communication skills, and the interface of the engineer with society and engineering ethics. A spreadsheet program (Microsoft Excel) and a high-level computer language (MATLAB/FREEMAT) are an integral part of the course. Learning Outcomes: By the end of this course, students should be able to 1. Describe the role of engineers in society and classify the different engineering branches, the functions of an engineer, and industries in which they work. 2. Identify and describe academic pathways to bachelor’s degrees. 3. Develop and apply effective strategies to succeed academically. 4. Explain engineering ethical principles and standards. 5. Demonstrate knowledge of effective practices for writing technical engineering documents and making oral presentations. 6. Analyze engineering problems using the engineering design process. 7. Demonstrate teamwork skills in working on an engineering design team. Resource Links: Course Syllabus: lecture content and course schedule, textbook info, course requirements, etc. Course Documents: Lab handouts, problem sets, content review slides, etc. Lab Overviews: list of lab descriptions and learning objectives Lecture Videos: videos used for Fall 2016 . -
Code of Ethics and Business Conduct
CODE OF ETHICS AND BUSINESS CONDUCT EXPERTS WITH IMPACT A LETTER FROM OUR PRESIDENT AND CEO, STEVEN H. GUNBY Dear Colleagues, Over the last 30 years, FTI Consulting has grown to the Code applies to a particular circumstance, or become a market-leading global consulting firm by if you see something that you believe violates this serving as a trusted advisor to our clients in both good Code, I encourage you to contact our Chief Risk and bad times. As trusted advisors, our clients look & Compliance Officer, our General Counsel or our to us to protect their interests with unquestionable Human Resources Department, You will never be integrity. punished or retaliated against for making an honest, accurate report of your suspicions or concerns. Our Code of Ethics and Business Conduct is designed to help us meet this expectation. This Code reflects It is an honor to be a part of this terrific group of our corporate values, outlines our collective inten- individuals, a group that aspires to enhance our tions with respect to how we conduct global business Company’s reputation each and every day. I look activities and addresses important laws and policies forward to working with each of you as we continue that apply to our day-to-day interactions with key to strengthen our firm’s legacy as an unparalleled constituents. business partner. Direct and honest communications and behavior are critical to the success of our firm. By committing Sincerely, to those behaviors and following this Code, we will continue to protect and strengthen our reputation. I urge each of you to familiarize yourself with the elements of this document. -
Workloads and Standard Time Norms in Garment Engineering
Volume 2, Issue 2, Spring 2002 REVISED: July 15, 2002 Workloads and Standard Time Norms in Garment Engineering Zvonko Dragcevic*, Daniela Zavec**, Dubravko Rogale*, Jelka Geršak** *Department of Clothing Technology, Faculty of Textile Technology, University of Zagreb, Croatia **Textile and Garment Manufacture Institute, Faculty of Mechanical Engineering, University of Maribor, Slovenia E-mail: zvonko.dragcevic @zagreb.tekstil.hr ; [email protected] [email protected], [email protected] ABSTRACT Possibilities of new methods for measuring loading and standard time norms are presented, as applied in the field of garment engineering. Measurements described are performed on modern measuring equipment designed to measure and perform computer analysis of temporal values of processing parameters in sewing operation and simultaneously record in two planes using a video system. The measuring system described was used to investigate sewing operation for the front seam on a ladies’ fashion suit, 52 cm long. For the operation investigated, method of work employing the MTM (Methods Time Measurement) system with analysis of basic movements was selected. The MTM system used shows that normal time for the operation in question is around 429.3 TMU (15.5 s). Investigations of workload imposed on the worker according to the OADM method were done simultaneously, and total ergonomic loading coefficient of Ker=0.082 was established, thus determining the time necessary to organise the process of work as 464.5 TMU (16.7 s). Simultaneous measurements of time and dynamic changes of processing parameters, as well as logical sets of movements, are important for defining favourable operation structures, time norms, ergonomically designed systems of work and workplaces in garment engineering, as early as in the phase of designing operations. -
Introduction to Industrial Engineering
INTRODUCTION TO INDUSTRIAL ENGINEEING Industrial Engineering Definition Industrial Engineers plan, design, implement and manage integrated production and service delivery systems that assure performance, reliability, maintainability, schedule adherence and cost control Development of I. E. from Turner, Mize and Case, “Introduction to Industrial and Systems Engineering” I. E. History from Turner, Mize and Case, “Introduction to Industrial and Systems Engineering” U.S. Engineering Jobs from 2003 BLS % of Eng. Jobs % Growth (2012) • Electrical 19.8% 3-9% • Civil and Environmental 18.6% 3 -9% • Mechanical 14.5% 3-9% • Industrial 13.1% 10-20% •All Others <5.0% IE Prospects • Industrial engineers are expected to have employment growth of 14 percent over the projections decade, faster than the average for all occupations. As firms look for new ways to reduce costs and raise productivity, they increasingly will turn to industrial engineers to develop more efficient processes and reduce costs, delays, and waste. This focus should lead to job growth for these engineers, even in some manufacturing industries with declining employment overall. Because their work is similar to that done in management occupations, many industrial engineers leave the occupation to become managers. Numerous openings will be created by the need to replace industrial engineers who transfer to other occupations or leave the labor force. US Engineering Employment 2008 Civil engineers 278,400 Mechanical engineers 238,700 Industrial engineers 214,800 Electrical engineers 157,800