_______________________________________________________________________________________________________ Meyer Tool
commercial sector has come back strong . However , amidst these favorable trends , our major challenge was and continues to be the ongoing quest for talent , both in terms of direct and indirect employees . This scarcity of skilled workforce remains a common issue within our industry and a tough obstacle to overcome ,” he shares . Nonetheless , the company has proactively tackled these challenges . “ We are addressing these obstacles through continued investment aimed at advancing technology , thereby enhancing our First Time Yield ( FTY ) and increasing efficiency to generate greater throughput . Additionally , we are forging partnerships with local universities and vocational schools to develop a feeder program tailored to better nurture and home grow our talent ,” he adds .
Despite the challenges Meyer has encountered over the past three years , its relationship with its supply chain remains resilient and cooperative . “ We continue to
leverage both our supplier ’ s resources and our own by consolidating purchases for all our sites to take advantage of volume discounts . Furthermore , we have actively collaborated with our supply chain to gain insights into lead times , allowing us to secure the best pricing by ordering in bulk and storing inventory on our shelves . Meyer has implemented a system where we are invoiced for inventory only upon consumption , enabling us to manage costs more effectively . This approach includes forecasting lead times and ordering ahead to prevent production disruptions ,” Doug elaborates .
Besides fostering progress within its own ranks , Meyer actively works towards easing the labor shortage crisis . “ We have implemented a multifaceted approach , beginning with prioritizing internal training initiatives and collaborating with local technical high schools , colleges , universities , and cooperative programs to cultivate the new generation of skilled
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