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Ford Motor Co. said Wednesday its third-quarter profit declined from a year earlier amid the semiconductor shortage while promising better days ahead.

New orders for durable goods slid in September on declines in orders for transportation equipment, the U.S. Commerce Department said today.

Caterpillar Inc. today said third-quarter earnings soared as the maker of earthmovers, mining trucks and other heavy equipment saw increased sales.

Mold-and-die shops thrive on the latest technology in tooling, software, and machines. Process success often depends on using best-in-class solutions from the past as well as from the latest advances of today. New ways of using older technologies often depend on advances in enabling technologies.

In IIoT-based smart factory setups, AI-enabled digital assistants are linked into all assets and all data. It is this intelligence that takes the IIoT beyond data collection to predictions and decisions.

Establishment of cross-sectoral networks provides an affordable solution to help manufacturers fast-track processes to keep pace with AI technologies and realize far-reaching efficiencies at scale.

The Institute for Supply Management issued an economic forecast calling for expansion for the rest of 2021.

Machine shops use a variety of techniques to track the condition of their cutting tools, ranging from simple to sophisticated. No matter what monitoring method is used, it can be crucial in preventing catastrophic tool failure. At its best, monitoring also significantly boosts tool life and slashes tooling costs.

We can gracefully and successfully transition through the storm by implementing three simple actions: visualize the instinctual tribal knowledge of our company veterans, use automation to complement our workforce challenges and get involved in our local industry partnerships.

Sarah O'Sullivan, accounting director at LeaseQuery, talked to SME Media about how accounting changes related to leases are affecting manufacturers.