ReportWire

Tag: Efficiency

  • Increase Manufacturing Efficiency With No Quality Compromise – Aha!NOW

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    If you’re trying to produce more in the same period of time with the same resources, there are chances that the quality of the product may deteriorate. Here are some tips and tweaks that you can implement at your factory to increase the manufacturing efficiency while making sure you do not compromise on the quality of the products. ~ Ed.

    How To Increase Manufacturing Efficiency Without Compromising On Quality

    The manufacturing process itself takes time to manufacture if you really think about it. Every element is as complex as the moving parts in any machine, and while all systems can use improvement, messing with a certain element and failing to consider the wider context it operates in can cause problems. We can’t just take the fan belt out of a car or replace it with an inappropriate substitute and expect the same performance from such a vehicle.

    The same logic can apply to your approach to optimizing your efficiency. “If it isn’t broke, don’t fix it” can sometimes leave out the possibility for repairs that genuinely work, but the principle isn’t a bad one.

    In this post, we hope to help those struggling with this balancing act. After all, passing on the cost of savings in production can help, but if you’re unable to sustain the same quality as before, the process isn’t worth it. We hope the advice we give can reverse that direction.

    7 Ways to Increase Manufacturing Efficiency Retaining Quality Standards

    Here are the tips and tweaks from the experienced and the experts to help you make more money.

    Perfect Your Storage Cycle

    It may seem that storage is part of the process that comes well after you’ve manufactured something, and that raw materials need little in the way of sophisticated planning outside of being safely present, easy to access, and secure. But of course, that’s not always the case.

    That’s because storage layout directly impacts every aspect of production time and quality. For example, materials that sit in the wrong conditions or stay on shelves too long can degrade quite easily, which eats into the discount of your bulk purchase.

    It’s also pretty obvious that poor organization will make you suffer unnecessary delays. Investing all you can in a well-planned storage system is wise, because it keeps materials close to their point of use, rotates stock effectively, and also ensures proper environmental conditions for sensitive items.

    You might benefit from implementing a more thoughtful reorganization of your storage areas and as such limit hours of wasted movement and searching time. So perhaps it’s not your factory line that needs the upgrade, it’s your warehouse, your storing facilities, and your loading bays. A new indexed or barcode scanning system might be best, or investing in new storage movements facilities like a new fleet of forklifts or conveyors could help. Perhaps you just need to hire a warehouse manager, who could pay for their own salary tenfold each year in improved efficiency.

    Frequent, Scheduled Maintenance

    Maintenance goes far beyond routine cleaning and basic upkeep. Each piece of equipment needs specific attention, such as monitoring belt tensions and gear alignments. Machine operators, if you train them well, become skilled at noticing subtle changes in equipment performance through sound and vibration.

    This awareness, combined with regular professional maintenance, keeps production running smoothly and equipment lasting longer. It’s essential that you implement a healthy documentation of maintenance activities to give the entire management team data about equipment performance.

    Maximum Capacity Measures

    Ultimately, every production outfit, no matter how large or sprawling or impressive, will have production capacities. This is especially strained during seasonal periods of course, but still worth keeping in mind.

    It’s important for managers and business owners to understand that while machines might technically handle higher volumes, human operators and material storage limitations often set the real maximum capacity, and it’s important not to push these constraints but invest in a wider operation if you hope to achieve more.

    After all, running equipment at its absolute limit will almost certainly cause increased downtime and quality issues. Production targets based on actual operational capacity, rather than theoretical maximums, even if you have to renegotiate deadlines with your clients, will help with consistent output and better product quality. A good investment is to have regular analysis of capacity usage patterns, because then you can see where additions or alterations to your production timeline are possible.

    It also means avoiding overbooking yourself and struggling to meet the demands of multiple clients, which will almost always cause disappointment if you’re not careful and disciplined enough to avoid it.

    Offloading Waste/Scrap

    Good waste management is usually a worthwhile practice to invest in for obvious reasons. But if your business deals with valuable materials or those that may hold value or purpose beyond your own uses, optimized or sustainable waste management alters what could be a pure cost center into a potential value stream. To start with, you’ll have to integrate proper sorting and handling of recyclable materials, which opens up additional revenue if you can find a worthwhile sale. This isn’t as difficult as you may imagine give creative reuse of manufacturing byproducts.

    For example, unused biofuel and scrap metal could provide two options. At the very least you might work with sustainable partners to help reduce the impact of your wastage, which could possibly help you make use of more recycled output once again.

    Private Safety Audits

    Instead of bringing in outside consultants who might not understand your specific setup, running your own regular safety reviews makes a lot of sense, as long as they can be conducted by another part of your department who will be utterly stringent.

    Walking through your facility with fresh eyes every month or so will spot issues you might normally avoid. Of course, it is worth investing in a private auditor too if you think that you may be too biased, or if you have huge inspections coming up and you want to meet even more stringent standards before they come.

    A great approach is to include your floor workers in these reviews because they’re the ones who know exactly where things could be safer or work better. Moreover, when such staff see their suggestions being taken seriously, they’re much more likely to speak up about other improvements in the future and not sweep their difficulties under the rug at all.

    Custom Machinery

    A manufacturing line might have been curated thus far with standard machines purchased from catalogs and integrated as part of a logical line. That’s perfectly normal of course, as every manufacturing setup is different and some modularity is important. It’s not like you’re going to invent every machine you need yourself to begin with either, as most practical purposes have already been made available and sold at scale, allowing you to enjoy some of those savings.

    However, a simple adjustment to a conveyor system or a modified attachment might solve your problem without requiring a fully custom unit. A high-quality set of precision bearings could be a worthwhile investment for custom machinery, allowing you to gain further functionality over time. Incremental improvements like that can add up to a setup that’s perfectly fitting to your needs.

    Supplier Alternatives

    Nobody likes to think about their suppliers letting them down, but it happens. Sometimes it happens often if there are shortages or if a strange little quasi-trade war is taking place (and unfortunately, in today’s political reality, this is unlikely to be that infrequent).

    Having a backup plan doesn’t mean you don’t trust your main suppliers, of course, as it’s just good business sense. Building relationships with two or three reliable suppliers for your essential materials can save you massive troubles down the line where you scramble to put those in at the time. You may pay touch more sometimes, but that’s better than having your whole production line grind to a halt because of a delayed delivery. If you host frequent chats with your suppliers for reviews it can also help you spot potential issues early and often lead to better service overall.

    Wrapping Up

    Perfecting your storage cycle, scheduling frequent maintenance, measuring the maximum capacity, offloading the waste, conducting private safety audits, customizing your machinery, and building relationships with alternative suppliers.

    With this advice, we’re certain you’ll be able to continue improving manufacturing efficiency without laying off staff or replacing with ineffective material replacements.

    Over to you

    If you have a manufacturing facility, what measures do you take to produce more in the same duration keeping the quality standards? Share your tips and experiences in the comments below.

    Disclaimer: Though the views expressed are of the author’s own, this article has been checked for its authenticity of information and resource links provided for a better and deeper understanding of the subject matter. However, you’re suggested to make your diligent research and consult subject experts to decide what is best for you. If you spot any factual errors, spelling, or grammatical mistakes in the article, please report at [email protected]. Thanks.

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    Sarah Domeier

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  • MS Project 2024 — Your Project Partner for Life | Entrepreneur

    MS Project 2024 — Your Project Partner for Life | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Any tool that can help streamline workflow and keep projects on schedule could be a game changer for many business professionals. This is something the minds at Microsoft know all too well, evident in their latest iteration of Project, on sale for just $79.97 (reg. $1,129) through November 21.

    Microsoft Project Professional 2024 is packed with everything you need to plan, track, and deliver on time. This 2024 project management powerhouse is perfect for keeping teams organized, budgets in check, and timelines on track. Whether you’re a seasoned project manager or new to the game, this tool makes it easy to turn complex projects into smooth, successful operations.

    With pre-built templates, you can kick-start any project running smoothly, helping you quickly organize tasks, set timelines, and allocate resources effectively. Need to make adjustments on the go? This program enables you to run “what-if” scenarios, allowing you to find the most efficient way to assign tasks and meet deadlines.

    Managing a team has never been easier, thanks to seamless integration with Microsoft Teams and Project Online, which let you check team members’ availability, start chats, and track progress in real time. Multiple timeline views and Gantt chart task paths make it simple to visualize your project from any angle. At the same time, intuitive baselines enable you to compare actual progress to your original plan, keeping every project on target.

    Detailed reports like Burndown and Resource Overview provide valuable insights for stakeholders so you can ensure every detail aligns with your goals. Plus, with task auto-population based on dependencies, you can efficiently set start and end dates, enabling a smooth workflow.

    Microsoft Project Professional 2024 is compatible with Windows 10, 11, and Windows Server 2019, designed to support long-term servicing and seamless operation with Office LTSC and Office 2024.

    Invest in this comprehensive management tool and be ready to tackle any project with confidence and precision.

    Microsoft Project Professional 2024 is just $79.97 (reg. $1,129) through November 21.

    Microsoft Project Professional 2024: Lifetime License for Windows – $79.97

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  • Biggest banks develop AI at 2x the speed of smaller institutions

    Biggest banks develop AI at 2x the speed of smaller institutions

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    Banks with more than $1 trillion in total assets are developing and deploying AI and generative AI at twice the rate of smaller institutions.   Larger financial institutions are able to spend big bucks on AI development, creating a gulf between them and smaller ones, Alexandra Mousavizadeh, chief executive of data analytics company Evident AI, said […]

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    Vaidik Trivedi

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  • Wells Fargo’s tech spend up and headcount down in Q3

    Wells Fargo’s tech spend up and headcount down in Q3

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    Wells Fargo trimmed its staff and total costs in the third quarter, with efficiency in mind.  “We have maintained strong credit discipline and driven significant operating efficiencies in the company while investing heavily to build a risk and control infrastructure appropriate for a bank of our size,” Chief Executive Charlie Scharf said during today’s Q3 […]

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    Whitney McDonald

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  • Q&A with Jack Henry’s Jonathan Baltzell on efficiency gains

    Q&A with Jack Henry’s Jonathan Baltzell on efficiency gains

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    Financial institutions are investing in tech to drive efficiency among market pressures to increase deposits. 

    According to Jack Henry’s 2024 Strategy Benchmark report, increasing operational efficiency is a top strategic priority for banks and credit unions over the next two years. The survey was conducted in January and February and included responses from 127 bank and credit union chief executives. 

    The following FIs have made recent investments in efficiency: 

    • HSBC digitalized internal operations to boost efficiency; and
    • Wells Fargo has invested in self-service capabilities through its mobile applications. 

    Bank Automation News sat down with Vice President and President of Bank Solutions at Jack Henry Jonathan Baltzell to discuss how to approach efficiency projects within financial institutions tapping new technology. What follows is an edited version of that conversation. 

    BAN: How does a financial institution determine where to invest in technology? 

    Jonathan Baltzell: It starts with the institution’s strategic plans. That’s what needs to drive investment in technology and elsewhere. When we did our most recent benchmark study, we found that the top two priorities for banks were growing deposits and increasing efficiencies. Those two areas of focus can be tied together. For example, our online account opening solution JHA OpenAnywhere really helps drive a more efficient process for online account opening and the Banno solution brings together account opening. 

    BAN: How can a financial institution identify what to automate? 

    JB: On the efficiency side, I think every institution should look at what they can stop doing. That’s the quickest way to gain efficiency, find things you can stop doing. 

    From a technological point of view, an area where we see consistent and quantifiable gains is in workflow automation and robotic process automation. Institutions that integrate Jack Henry’s jhaEnterprise Workflow (EWF) solution with their Jack Henry Core, see a cost benefit of $108,000 on average. When they integrate EWF across multiple solutions, that’s when you see those results really start to compound. For example, if you integrate EWF with your core, our CRM solution and our content management solution, the cost benefit is on average $229,000. 

    BAN: How do you approach an efficiency project with a financial institution? 

    JB: Any efficiency project is going to start with some sort of cost analysis or reward projection. We see a lot of institutions that aren’t running as efficiently as they could be, but they may not possess the depth of knowledge in their solutions to identify those inefficiencies.  

    Jack Henry has an internal group, JHA Client Services Consulting, which is made up of former bankers who have operated our solutions and can help determine where to boost efficiency within bank operations.  

    From there, the team puts together the cost analysis and projected reward and based on those numbers, banks can do a lookback and see if their investment in workflow automation or robotic process automation or other tools is paying off.  

    BAN: What technology is Jack Henry investing in to keep up with client demand for new capabilities? 

    JB: Jack Henry is investing in the following technology modernization initiatives: 

    • Jack Henry Financial Crimes Defender: Our new fraud solution, currently in beta, leverages Feedzai’s industry-leading AI engine to reduce false positives and gain efficiency through the fraud process on a single platform. In this platform, we utilize AI and behavioral analytics to manage and automate the BSA and fraud processes in near real-time. 
    • Enterprise Account Origination: We had a number of disparate account opening solutions that we’re melding together into one cohesive account opening platform that’s designed to reduce friction, improve the account opening process and provide an account opening experience that can be completed in a matter of minutes. I think we’re pretty close to being able to achieve that in the next year. 
    • Jack Henry Platform: The platform is a collection of modern core services. We are in the process of instrumenting these services with AI capabilities, and we think that’s going to be a huge opportunity to provide efficiency gains for financial institutions.  

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    Whitney McDonald

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  • Let Your Projects Shine with MS Project 2021 Pro for Just $19.97 | Entrepreneur

    Let Your Projects Shine with MS Project 2021 Pro for Just $19.97 | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Project management is a tough gig. A notable study from the Project Management Institute (PMI) consistently highlights that over 70% of projects globally either fail to meet their original goals or deadlines or go over budget. If you want to stay out of that group, Microsoft Project 2021 can help.

    Managing a project requires clear visibility, accurate resource allocation, and efficient scheduling. With Microsoft Project 2021 Professional, you’ll have a complete set of tools to help you tackle projects of all sizes, ensuring that you stay on track from start to finish. And for just $19.97, this lifetime license is a cost-effective solution for businesses and entrepreneurs looking to streamline their project management.

    It’s designed to help project managers and business owners work more efficiently. With features like automated scheduling, resource allocation, and built-in reports, you can reduce the time spent on manual tasks and focus on making informed decisions and driving your projects forward.

    One of the key benefits of Microsoft Project 2021 is its ability to improve project visibility. By offering clear task tracking, resource management, and collaboration tools, you can easily monitor progress and keep your team aligned. This not only enhances communication but also ensures that everyone is on the same page, allowing you to deliver projects on time and within budget.

    As your business grows, so do your projects. Microsoft Project 2021 supports that growth with its ability to handle increasingly complex projects, whether you’re managing a small team or overseeing multiple departments. The software’s flexibility and scalability make it an ideal solution for businesses that are expanding and need to keep up with higher project demands.

    For just $19.97, you get lifetime access to one of the most powerful project management tools available—no recurring fees, just one upfront investment. By automating key tasks like scheduling and reporting, Microsoft Project 2021 helps you save valuable time.

    Pick up a lifetime license to Microsoft Project 2021 Pro for just $19.97 (reg. $249) through September 29.

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  • Unlock the Power of Data with Microsoft Project 2021 Professional for $20 | Entrepreneur

    Unlock the Power of Data with Microsoft Project 2021 Professional for $20 | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    In today’s fast-paced business world, making informed decisions is the key to success, especially when managing complex projects with multiple moving parts. Whether you’re overseeing a small team or juggling large-scale initiatives, having the right tools to track progress, allocate resources, and anticipate challenges can be the difference between success and missed deadlines.

    Microsoft Project Professional 2021 is not just a project management tool; it’s a comprehensive platform designed to help entrepreneurs and project managers plan, manage, and execute projects efficiently. And now, for a limited time, you can grab a lifetime license for just $19.97 (regularly $249), an incredible deal available through September 29.

    Data-driven decision-making

    One of the biggest challenges for project managers is effectively using data to guide decisions. With Microsoft Project Professional 2021, you can track tasks and gain valuable insights that help you stay ahead.

    Wondering how changes in resource allocation or task timelines will impact your project? With what-if scenarios, you can experiment with different strategies and immediately see the effects, enabling you to choose the best path forward.

    Many of us learned the hard way that overcommitting your team can lead to delays and burnout. Microsoft Project Professional 2021 automatically adjusts assignments to ensure that resources are allocated efficiently, helping you avoid bottlenecks and keep your project on track.

    You can also stay on top of your project’s health with real-time progress tracking. You’ll have a clear picture of what’s been completed, what’s pending, and where attention is needed, all in one place.

    Features galore

    Project Pro is packed with features designed to help you execute your projects more smoothly and efficiently. With pre-built templates designed for common project types saving you time, seamless synching with Project Online and Project Server, and more, it’s no wonder it has 4.4/5 stars on Capterra.

    Don’t miss Microsoft Project Professional 2021 while it’s on sale for just $19.97 (regularly $249) through September 29.

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  • 78% of regional FIs say AI can help find new business

    78% of regional FIs say AI can help find new business

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    Regional and community banks are investing in AI for new business opportunities, revenue growth and efficiency gains.   “Financial institutions are quite bullish when it comes to AI,” Allison Cerra, chief marketing officer at fintech Alkami, told Bank Automation News. “They’re looking at this as kind of a broader catch-all of business opportunities, not necessarily […]

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    Vaidik Trivedi

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  • Paper Transport Recognized as a 2024 SmartWay High Performer by the U.S. EPA

    Paper Transport Recognized as a 2024 SmartWay High Performer by the U.S. EPA

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    Paper Transport is proud to announce that it has been named a 2024 SmartWay® High Performer by the U.S. Environmental Protection Agency (EPA) based on the performance of its freight transportation operations. This prestigious recognition highlights Paper Transport’s commitment to sustainability and efficiency in goods movement.

    For the eighth year, the EPA will publish a list of SmartWay High Performers, and Paper Transport is honored to be included. A complete list of all 2024 SmartWay High Performers and the criteria for making the list are available on the SmartWay website: www.epa.gov/smartway/smartway-high-performer-lists.

    In addition to this recognition, Paper Transport has also submitted and received approval for its current data submission to the SmartWay Transport Partnership. This innovative collaboration between the EPA and the transportation industry provides a framework to assess the environmental and energy efficiency of goods movement supply chains.

    Paper Transport will continue to contribute to the Partnership’s savings of 379 million barrels of oil, $52 billion on fuel costs, 162 million metric tons of CO2, 2.8 million short tons of NOx, and 114,000 short tons of PM. This is the equivalent of the annual electricity use in 24 million homes. By joining SmartWay Transport Partnership, Paper Transport demonstrates its strong environmental leadership and corporate responsibility.

    “For the past 15 years, Paper Transport has been a leader in providing sustainable transportation solutions,” stated Ben Schill, CEO of Paper Transport. “We have pushed the envelope to test and implement solutions that help reduce the carbon footprint of our shippers across the board. We lean on acting and learning from real-world experience versus pontificating about what can or cannot work. We embrace the spirit of SmartWay in terms of embracing real-world testing and finding sustainable solutions that can work in a practical environment.”

    About SmartWay: Developed jointly in early 2003 by EPA and Charter Partners represented by industry stakeholders, environmental groups, American Trucking Associations, and Business for Social Responsibility, this innovative program celebrated its 10th anniversary in 2014. Partners rely upon SmartWay tools and approaches to track and reduce emissions and fuel use from goods movement. The Partnership currently has nearly 4,000 Partners including shippers, logistics companies, truck, rail, barge, and multimodal carriers.

    For information about the SmartWay Transport Partnership, visit www.epa.gov/smartway.

    About Paper Transport: Transport Topics Top 100 for-hire truckload carrier and Top 20 IMC, Paper Transport excels in dedicated, one-way OTR, intermodal/drayage, brokerage, and sustainability solutions. After over 30 years, Paper Transport has established a notable national presence offering asset and non-asset solutions through strategic partnerships and versatile logistics capabilities across diverse industries.

    For more information about Paper Transport, visit www.papertransport.com or call (920) 617-5412.

    ###

    Source: Paper Transport

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  • 3 Ways the Intersection of AI and Blockchain Will Change the Future of Your Business | Entrepreneur

    3 Ways the Intersection of AI and Blockchain Will Change the Future of Your Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    AI and blockchain are complementary forms of technology that have, as readers are likely aware, gained stunning momentum in recent years. Over the course of just last year, the former has found expansive application across the business landscape: According to a survey from UKG from late 2023, no less than 78% of executives reported that their companies were using artificial intelligence. A further 71% considered AI to be a medium to high priority for their businesses, and 62% thought they were not adopting such solutions fast enough.

    Second, we have blockchain technology. As early as 2018, 84% of C-suite members in a PwC survey claimed to have a blockchain initiative underway, and the rapid rise of cryptocurrency in the intervening years has shed further light on its potential.

    Related: Meet The Visionary Shaping Entertainment Through Blockchain

    The benefits of AI and blockchain working in tandem

    As these two concepts become more mainstream, business leaders are increasingly recognizing their productive capacity in working together. In a recent presentation at the EY Global Blockchain Summit 2024, for example, EY Global Chief Innovation Officer Jeff Wong addressed the synergistic possibilities of blockchain’s ability to certify original ownership, particularly as AI-generated content increases. He pointed out that technologies rarely create a leap forward on their own: Usually, Wong said, they have to come together with other new or existing ones to enable higher utility and a surge of development.

    Companies can use AI and blockchain together to change business processes and influence digital transactions—among the payoffs are a further reduction in costs and a transformation of consumer experiences in the consumption of online content and in other digital interactions.

    The question is, what might all this potentially translate to in day-to-day business operations?

    Here are a few possibilities:

    1. AI-driven predictive analytics

    The ability of artificial intelligence to look at past data and use it to predict future outcomes has gained impressive recent utility. However, that usefulness diminishes if past data is unreliable. Blockchain reinforces the predictions of AI-driven analytics by ensuring that data used in each algorithm is accurate, untampered with and transparent.

    Companies can use blockchain to create a level of integrity and reliability that’s not possible in a less secure set of data for AI models.

    Related: A Complete Guide to Using Predictive Analytics in Your Business

    2. Enhanced data security and capability

    Blockchain’s ability to improve data trustworthiness is unrivaled. It publicly traces all iterations of a piece of data, recording transactions in a decentralized and tamper-proof manner.

    This markedly improves data quality but does not boost utility. That’s where AI comes into the picture: It can execute increasingly sophisticated actions, including creation and generation. But here once again, the quality of data lies at the heart of each LLM’s (large language models) dependability — something blockchain naturally elevates.

    Blockchain technology can create data that powers cleaner and more accurate AI results.

    3. Sophisticated smart contracts

    Contracts make the business world go round, but can also hold things up when not handled efficiently. Blockchain makes it possible to store self-executing smart contracts on-chain when certain conditions are met. This reduces errors, eliminates the need for intermediaries and lowers costs.

    AI takes the basic yet vital acceleration of blockchain contract execution and increases complexity. The LLM models and neural networks that power AI algorithms introduce a higher degree of adaptation to the smart contract model. This gives them a dynamic, decision-making quality that uses real-time data to power adjustments.

    Businesses can use AI to enhance smart contract capabilities and reduce workloads.

    Related: Making a Difference with Adaptive Neural Networks

    Investing in synergy

    Technology is always advancing, but rare are the moments when multiple complementary techs overlap in powerful ways. The intersection of blockchain’s reliability and AI’s capability could lead to an explosion in business efficiency and dynamism. The question is, are you and your company ready to explore that new frontier?

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    Rashan Dixon

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  • Duke Energy Florida to Reduce Rates for Second Time This Year

    Duke Energy Florida to Reduce Rates for Second Time This Year

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    For the second time this year, a typical Duke Energy Florida customer will see lower electric bills, this time because of a rate reduction the company is proposing to begin in June to reflect anticipated lower fuel prices.

    The company filed a fuel midcourse rate request with the Florida Public Service Commission to account for lower projections for natural gas costs.

    Under the proposal, a typical Florida residential customer with a monthly usage of 1,000 kWh would see their bill decline by $5.90, or almost 4%. The savings would be on top of a $11.29 decrease, or about 6%, a decrease that typical residential bills began showing in January.

    Similarly, typical commercial and industrial customers will see a bill decrease between 3.5% and 7.0%, varying based on factors, such as industry type and differences in customer use patterns.

    “With fuel prices expected to decline, we have an opportunity to lower rates for a second time this year for our customers, just as we prepare for the higher energy usage that come with summer months,” said Melissa Seixas, Duke Energy Florida state president. “We remain committed to providing the best possible price for Florida’s growing population, while delivering the reliable power and customer service our customers deserve today, tomorrow and for many years to come.”

    Duke Energy Florida ensures customers receive the best service to their homes, businesses and communities through expertly managing its fuel resources, and its complex systems of power generation, transformers, wires and poles across 13,000 square miles – 24 hours a day, 365 days a year, under the most challenging conditions.

    The company also offers several easy-to-use energy efficiency programs and tools to help Florida customers have more control over their energy use and bills.

    Duke Energy Florida, a subsidiary of Duke Energy, owns 12,300 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.

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  • Grab Microsoft Project Professional 2021 for $20 During This Flash Sale | Entrepreneur

    Grab Microsoft Project Professional 2021 for $20 During This Flash Sale | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    If you’re in charge of a business and you don’t have a clear understanding of how to approach projects in an organized and effective manner, that’s a problem. Like many leaders before you, consider leaning on software that’s designed to streamline the project workflow for companies representing a wide range of industries.

    A rate that will only be available from April 19 through 22, you can get Microsoft Professional 2021 for just $19.97 (reg. $249).

    This well-reviewed software comes with a range of pre-built templates that you can use to set your project off on the right foot. It supports a number of helpful functions like building complex schedules with varying timelines, auto-populating those schedules in instances where it can, and submitting timesheets that can be distinguished by project work and non-project work.

    Some additional features of Microsoft Project Professional that can help entrepreneurs and their teams include what-if scenario generation capabilities. Microsoft Project Professional also allows you to sync projects on your local server with those online, which is massively helpful for remote teams.

    Its comprehensive and well-curated offerings are part of why Project Professional is rated an average of 4.7/5 stars on the Entrepreneur Store.

    Don’t miss this limited-time opportunity to make a worthwhile investment in your business for the price of a beer at the ball game.

    A price that will only last from April 19 through 22, you can get Microsoft Professional 2021 for just $19.97 (reg. $249).

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  • Goldman Sachs bets on AI financing | Bank Automation News

    Goldman Sachs bets on AI financing | Bank Automation News

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    Goldman Sachs is deploying AI in-house and preparing for financing opportunities in AI development in the market.  Developing AI technology requires “infrastructure, power, and all these things require financing to drive scale that’s going to be necessary for people to execute on the investments that they see as important to keep their businesses competitive at […]

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    Vaidik Trivedi

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  • Opinion: California has to conserve water. Why is Sacramento dragging its heels?

    Opinion: California has to conserve water. Why is Sacramento dragging its heels?

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    On the heels of two wet winters, it’s easy to forget how close some parts of California came to running out of water a few short years ago. But this climate amnesia will not help us prepare for the next inevitable drought. Since before the state’s founding, the boom-and-bust of drought and flood have shaped our landscapes. In this era of climate change, weather extremes are becoming more common and more severe.

    The robust water supply of the 20th century is no longer reliable. California recently agreed to cut water imports from the Colorado River by 10% not out of altruism, but because we must. The Department of Water Resources projects that the Sierra snowpack — a major source of water for farms and cities — could be reduced by as much as 65% by the end of the century. More immediately, California’s water supply is projected to decrease by 10% as early as 2040. Now is the time to prepare for a drier, less predictable future.

    That’s why we spent nearly two years crafting legislation designed to do just that. We developed and shepherded the passage of two water conservation bills, Senate Bill 606 and Assembly Bill 1668, back in 2018. That legislation established a framework for creating long-term water-use efficiency standards for urban water suppliers that would govern indoor use, allowable water loss and outdoor use. The State Water Resources Control Board was charged with crafting the standards, working with the Department of Water Resources, businesses, environmental advocates and water utilities.

    The process has required compromise all around. The standards for indoor use and allowable water loss were hammered out by 2023, but there has been a delay in finalizing the outdoor-use efficiency standards.

    In large part because of that delay, the water board is about to trample the hard-won work that’s been done so far by allowing water utilities until 2035 or later to implement meaningful reductions. Under the current proposal, according to the board’s “provisional data,” 72% of Californians won’t have to save any additional water for another 10 years. But climate change isn’t waiting another decade to deepen its impacts. We need to stretch every drop from years when we get enough snow, as in this year, to carry us through the hot, dry periods to come.

    SB 606 and AB 1668 and the standards that are being set won’t tell Californians how many times a week to shower or when they can water their yards. The framework creates “water budgets” for water suppliers — customized bottom lines based on population, water use in the service area, climate and the like — that the utilities and their customers can meet in ways that best fit their individual situations.

    The goal of the budgets is to keep faucets flowing and water bills in check by pushing the utilities to invest in efficiency. That means replacing aging infrastructure to reduce wasteful leaks. It means incentivizing users to replace their lawns with California-friendly plants and to update their washing machines, toilets and faucets — all of which utilities can promote through rebates or even by doing the work themselves for households that can’t afford to pay upfront and wait for reimbursement.

    Because the water board’s latest plan for implementing efficiency standards has such an extended timeline, water will inevitably become even more expensive, including for low-income households and communities. While it is true that investing in efficiency costs money, it is the least expensive and fastest way to get our demand for water into balance with increasingly limited supplies. It can give us all more flexibility, so we’re not facing mandatory cutbacks or situations where households worry they can’t afford water for basic needs.

    Dollars not invested in improved efficiency will not be saved; they will instead have to be spent on more expensive options to achieve water sustainability, such as wastewater recycling and desalination plants. These are important tools essential to improving our water security, but they take time to build. Whether a water utility is promoting efficiency or recycling wastewater into drinking water, those costs ultimately get passed on to customers. Viewed in this full context, prioritizing investments in efficiency is raging commonsense.

    It is essential for state leaders to create durable and responsible policy rooted in today’s climate reality. Our water supply is under intense pressure.

    It’s not too late to turn this ship around. We can end the delay in implementing our conservation legislation by reverting to earlier proposed standards for outdoor water use in urban areas and finally holding utilities to appropriate water budgets.

    The state water board must do what is right for our communities, our environment and our future: Make efficiency the top priority. Don’t leave Californians waiting decades longer to make conservation a way of life.

    Robert Hertzberg is a former speaker of the Assembly and former majority leader of the state Senate. Assembly member Laura Friedman (D-Glendale) is running to replace Adam Schiff in the U.S. House of Representatives.

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    Robert Hertzberg and Laura Friedman

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  • Western Systems Enhances Denver’s Smart City Initiative With Advanced Equipment and Innovation

    Western Systems Enhances Denver’s Smart City Initiative With Advanced Equipment and Innovation

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    Driving Sustainable Urban Development Through Tailored Solutions and Customer-Centric Innovation

    Western Systems, a leading provider of customized and innovative traffic management solutions, is proud to announce a strategic collaboration with the City and County of Denver to advance urban mobility as part of the Denver Smart City Program.

    Denver Smart City Program

    Inspired by the U.S. Department of Transportation’s Smart City Challenge, Denver’s Smart City Program embodies a commitment to sustainability, connected mobility, and innovative partnerships. Western Systems’ cutting-edge P PLUS cabinet with Integrated Battery Backup System (BBS) perfectly aligns with the program’s objectives, contributing to enhanced safety, sustainability, and connectivity in the city.

    Denver, known for its progressive approach to innovation rooted in its pioneering spirit, faces increasing demands for efficient traffic management solutions to address congestion, enhance safety, and reduce environmental impact. Western Systems’ P PLUS cabinet with Integrated Battery Backup System (BBS) optimizes space and accessibility within traffic cabinets, addressing immediate challenges while supporting Denver Smart City’s long-term goals of sustainability and safety.

    Denver’s Traffic Challenges

    The city aimed to find ways to keep intersections functional during power disruptions like rolling blackouts, Utility Public Safety Planned Shutdowns (PSPS), and severe weather, all while prioritizing road-user safety and the accessibility of BBS equipment. The city sought a fresh perspective on cabinet design to support the community’s growth and evolving needs.

    Furthermore, Denver encounters growing pressures for effective traffic management solutions to tackle congestion, bolster safety measures, and mitigate environmental effects.

    Western System’s Unique and Innovative Solution

    In response to Denver’s requirements, Western Systems introduced the innovative P Plus cabinet with an Integrated Battery Backup System (BBS) solution, designed to optimize space and accessibility within traffic cabinets. This solution effectively addresses Denver’s current challenges by improving efficiency during power outages and BBS maintenance while also aligning with the long-term sustainability and safety objectives of Denver Smart City initiatives.

    The specialized solution’s impact on Denver’s operational efficacy:

    • The P Plus cabinet seamlessly integrates Traffic Signal Control and Battery Backup System, maximizing efficiency and space utilization.
    • Its ergonomic design facilitates straightforward maintenance and accessibility for traffic engineers, ensuring the effective utilization of BBS equipment and enhancing mobility across the city’s road network.
    • This solution is scalable and adaptable to future mobility needs.
    • During power outages, the solution ensures sustainability and safety for drivers and vulnerable road users, bolstering the city’s overall resilience in traffic management.
    • By providing resources and space for upgrades, it enables advanced connectivity and data management, further supporting Denver Smart City’s data-driven initiatives and fostering innovation in traffic management technologies.

    Innovative P PLUS Cabinet Solution Effectively Addresses Both Long-Term and Short-Term Urban Challenges

    The unique approach of Western Systems’ innovative solution includes the integration of Traffic Signal Control and Battery Backup System, accommodating up to 16 load-bays and 64 detection channels for scalability and adaptability to future needs. Additionally, the Remote Network Unit enables advanced connectivity and data management, supporting Denver Smart City’s data-driven initiatives.

    Installation of 11 P PLUS cabinets is underway, with Western Systems’ Senior Vice President Zach Hoiting coordinating closely with Denver officials to ensure timely deployment in alignment with The City and County of Denver objectives. This collaboration not only promotes sustainability, safety, and connectivity but also offers cost-effective solutions through efficient space utilization and reduced maintenance costs.

    Strategic Partnership to Enhance Urban Mobility

    Denver’s Smart City Program encompasses various initiatives aimed at transforming urban mobility, enhancing public services, and fostering sustainability, including Connected Mobility, Healthy Places & People, Living Labs, and Data Management. Western Systems collaborates closely with the City and County of Denver to align its solutions with Denver Smart City’s goals and drive impactful outcomes for the community.

    “The City and County of Denver is dedicated to harnessing the power of technology to create a more sustainable and efficient urban environment,” says Brent L. Thomas, DOTI CA2750 Manager. “Our partnership with Western Systems exemplifies our commitment to innovation and collaboration. Together, we’re implementing solutions that address rising urban challenges while improving the quality of life for our residents.”

    “Customized, innovative, and sustainability and safety-oriented solutions are at the heart of everything we do at Western Systems,” says Zach Hoiting, Senior Vice President at Western Systems. “Our partnership with the City and County of Denver represents a significant milestone in our commitment to revolutionizing urban mobility. By leveraging cutting-edge technology and tailored solutions, we’re driving positive change that directly benefits the community.”

    Source: Western Systems Inc.

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  • Truist shakeup continues | Bank Automation News

    Truist shakeup continues | Bank Automation News

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    Bryce Elliott, former chief information officer of wholesale and enterprise functions at Truist Financial, is no longer working at the Charlotte, N.C.-based bank. Elliott’s role at Truist is being taken on by Kelly Buchanan, executive vice president and head of enterprise payments and wholesale technology, and Jay Poole, executive vice president and head of consumer, […]



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    Whitney McDonald

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  • How to Streamline Your Digital Ecosystem | Entrepreneur

    How to Streamline Your Digital Ecosystem | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    I vividly remember when Microsoft rolled out Windows 95. Designed to actually look like a desktop, with icons for the Recycle Bin, Briefcase, Inbox and other functions, it felt revolutionary, a boon for productivity as well as operations and logistics, and above all, user-friendly. And that innovation was market-proven: Microsoft product designer at the time, Juliette Weiss, noted in a 2017 article for Medium, “It was the most heavily user-tested product in [the company’s] history.”

    In those days, it made sense to treat a computer workspace more or less like your home or office desktop — to regularly clean and organize it just as you would its physical facsimile. But today, with cloud computing and an endless number of automated tools and apps, the digital/physical workspace analogy doesn’t quite hold up. Organizing your 21st-century ecosystem isn’t just a matter of implementing a smart filing system, but about choosing the right tools and building intuitive systems, then continually refining and updating them. Harvard Business Review summed it up well in an article published more than a decade ago: “Our job today and tomorrow,” it read in part, “isn’t to organize ourselves better; it’s to get the right technologies that respond to our personal productivity needs.”

    At Jotform, my team and I rely on a multitude of tools and platforms for personal work and collaboration and streamlining them has helped us to reduce friction, increase output and both grow and scale without a dime of outside funding.

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    Aytekin Tank

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  • United Mississippi Bank frees up internal IT resources through Jack Henry | Bank Automation News

    United Mississippi Bank frees up internal IT resources through Jack Henry | Bank Automation News

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    United Mississippi Bank continues to use Jack Henry’s Hosted Network Solutions to enhance its IT infrastructure without adding employees.  

    In 2017, United Mississippi Bank Executive Vice President and Chief Information Officer Christopher Maxwell was looking to improve IT operations, including the need for two full-time IT employees, he told Bank Automation News.

    However, adding headcount was costly, with some IT applicants expecting to be paid more than a bank’s chief executive, Maxwell said. “That doesn’t fit” for the $452 million, Natchez, Miss.-based bank, he said.  

    “Hosted Network Solutions (HNS) was specifically designed for financial institutions to host any Windows- or Linux-based servers in Jack Henry’s secure and fully redundant private cloud platform,” Nick Shirk, national director of sales and information security and technology, told BAN.  

    The bank’s third-party service contracts were expiring in 2017 and it was time for a hardware refresh, expected to cost about $1 million, Maxwell said. While determining the best path to improve hardware and virtual servers, Maxwell talked with the Jack Henry team as well as banks that had already implemented HNS. 

    The bank is in its third three-year contract with HNS, Maxwell said. The platform meant the bank wouldn’t need to hire more full-time employees.  

    “By effectively transferring risks and management responsibilities to Jack Henry, financial institutions can free internal IT resources to focus on strategic initiatives to better serve their account holders,” Shirk said. 

    Nashville, Tenn.-based FirstBank and Panama City Beach, Fla.-based Innovations Credit Union are among financial institutions that have moved their network infrastructure to HNS, according to the Jack Henry website.  

    Get ready for the Bank Automation Summit U.S. 2024 in Nashville on March 18-19! Discover the latest advancements in AI and automation in banking. Register now. 

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    Whitney McDonald

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  • How to Project-Manage Your Personal Life | Entrepreneur

    How to Project-Manage Your Personal Life | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    If you audit time in terms of what you said you’d accomplish versus what you actually did, it’s not uncommon to see deltas like, “I only completed to my satisfaction 20% of what was needed: 70% got pushed to the next week, and 10% wasn’t done well.” Normally at a corporate job, this level of productivity is a recipe for unemployment, but when it comes to personal lives, we tend to extend ourselves so much grace that it can border on self-sabotage.

    Why? Well, because we can. There’s simply less accountability within a personal space not governed by a passion to be more effective and efficient with time (efficacy here essentially means “I’m getting it done,” while efficiency translates to “I’m getting things done faster and better”). And the only way someone can ever truly embrace both is by leveraging the tools and systems connected to how we operate on a granular level. This is what good project management does.

    Define objectives and create deliverables

    The first step in applying better management to your personal life is to clearly define objectives. This includes breaking them down into smaller deliverables and defining the time needed to achieve each one. Say you need to clean out the garage: Instead of saying, “This is a goal, and I’ll do it this Saturday,” a better mechanism might be detailing that “Garage section 1 will take 40 minutes, and section 2 will take 50 minutes.” You’ve broken tasks down, assigned a duration to each, and can now monitor whether it took less or more time than anticipated.

    Related: Why Inner-Mastery is the Key to Self-Growth

    I’ve found that the two most important things about setting objectives are:

    • Ensuring what needs to be done is detailed, as lack of information leaves room for ambiguity. In other words, make sure goals have a defined scope.
    • Emphasize measurement: that dates, durations and progress can be attached to the objective.

    Prioritization

    Among the most challenging parts of project management is beating the “I know what to do, there’s just not enough time to do it all” syndrome. Such a phrase is a common indicator of an overwhelmed calendar and a lack of prioritization. Suppose deliverables are schedule-arranged according to the level of importance. In that case, there will be a strategy for choosing immediacy or delay and a schema to dictate later calendar development.

    One organizing method I apply is the “P1 to P5” scale:

    • P1 (Critical): Anything that needs to be addressed immediately
    • P2 (High priority): Important but not time-sensitive
    • P3 (Neutral): No immediate deadline, but it still needs to be addressed
    • P4 (Low priority): Should be completed when there’s time
    • P5 (Unknown): No estimated or outlined deadline

    Related: How Entrepreneurs Can Learn From Project Managers

    Schedule curation

    Creating a comprehensive timetable can be tedious, partly because of shifting priorities attached to deliverables, taking longer than expected, forgetting pre-requisites (what needs to be completed first) and the inevitable fact that people won’t always adhere to what we forecasted for their time. Investing in a project management scheduling tool for personal matters is great, as it introduces automation to help recalibrate these many variables. This is not to say that manual intervention will not be required on occasion; it is just that more detail will be captured and better managed over time.

    A few tools to consider are Wrike, Asana, Trello, Monday.com and Smartsheet — their principal assets include:

    • Ease of schedule updating, as it lives in the cloud and can be categorized by master or sub-schedules, allowing for both high- and low-level granularity.
    • Quantitative assessments can be made to show, for example, how many tasks were planned versus accomplished, along with time overruns and scheduling delays.
    • Resource tracking can help hold people accountable for completed tasks.
    • Incorporating the often overlooked, such as potential risks, will make it easier to create contingency plans.
    • Connectivity to existing schedules on Google or Outlook Calendars to provide additional visibility.

    Related: 5 Best Project Management Tools of 2023

    The payoffs

    Any capable project manager makes it a point to document rigorously, including lessons learned, and the same should apply to ways personal lives are organized. This may seem at first like a needless expenditure of effort, but consider the business corollary: If you were late on deliverables 25% of the time or if high-priority items were not being handled well, the effects would be dramatic. Putting better systems in place requires consistency, discipline and focus. Still, you’ll find that practice quickly becomes a habit — that what once seemed fussy translates into real-life improvement and better results in all of its aspects.

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    Nickie Rowley

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  • Q3 earnings roundup: Tech spend up, headcount down | Bank Automation News

    Q3 earnings roundup: Tech spend up, headcount down | Bank Automation News

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    Major U.S. banks invested in AI and automation while pulling back on headcount as cost reductions remained a priority during the third quarter. Bank of America, BNY Mellon, Citibank, Citizens Bank, Fifth Third, and JPMorgan Chase, all reported higher tech spend year over year.  The $1.9 trillion BNY Mellon, for one, invested in automation and […]

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    Vaidik Trivedi

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