Employment Multipliers for the U.S. Economy

1. When it comes to the ripple effects that spread to the rest of the labor market, one lost dollar of economic output or one lost job is not the same as another.

2. Each industry has backward linkages to economic sectors that provide the materials needed for the industry’s output, and each industry has forward linkages to the economic sectors where the industry’s workers spend their income. 

3. Therefore, in addition to the jobs directly supported by an industry, a large number of indirect jobs may also be supported by that industry. The subtraction (or addition) of jobs and output in industries with strong backward and forward linkages to other economic sectors can cause large ripple effects.

4. This brief calculates employment multipliers by industry to illustrate the importance of these linkages, updating earlier work by Bivens (2003) and Baker and Lee (1993). Employment multipliers measure how the creation or destruction of output or employment in a particular industry translates into wider employment changes throughout the economy.

EVT (Engineering Validation Test), DVT (Design Validation Test), PVT (production validation testing) & NPI (New Product Introduction)

1. Explain the differences between EVT, DVT and PVT, or the engineering validation process.

2. Manufacturing overseas adds additional complexities and risks as geographic, communication, and cultural barriers can sabotage the product launch process.

3. This is where a New Product Introduction (NPI) team can make a substantial impact on commercializing a new product.  

Product Spotlight - Data Center Tiers Explained

1. Data center tiers are established rankings for the performance of servers which house data and information.

2. Data centers are ranked from I to IV, with I being the worst-performing of the four and IV being the best-performing.

3. The Uptime Institute’s Tier Certification is the independent measure through which ratings are judged. It determines the criteria for each tier and lists several values that collectively make up what constitutes the standards of data center tiers. 

Global Supply Chain Pressure Index (GSCPI) & Supply Chain Pessure in September 2022

1. The Global Supply Chain Pressure Index (GSCPI) is a new measurement of supply chain conditions, created by the Federal Reserve Bank of New York. The index combines variables from several indices in transportation and manufacturing, such as those related to delivery times, prices, and inventory.

2. The index is meant to help policymakers, businesses, and consumers understand the state of global supply chains.

Product Spotlight - Current Sensors and Industry 4.0: What do engineers need to know & Selection Criteria

1. A lot of the current buzz in electronic systems development is about “smart” products, and the ability to oversee the performance and functionality of these solutions. Between competition and consumer expectations, a product on the market today must perform its functions almost perfectly, or as close as can be achieved through modern technology and processes. 

2. Short battery life, poor RF connections, bad thermal management, and other non-critical aspects of performance are also make-or-break parameters when operating in the real world.

3. The explosion in the growth of the electronics marketplace at every level is challenging the industry at every level. From new semiconductor materials to advanced solutions like artificial intelligence, new technologies and approaches are creating new application spaces while rejuvenating old ones. All of this is being driven by the migration to integrate data technology into every aspect of electronics.

4. All of this is creating a disruptive period of demanding growth, which places additional pressure on system designers to ensure the product created is safe, efficient, reliable, and cost-effective (especially that last one). 

China’s Big Plan to Boost Data Center Computing Power

1. As China’s digital businesses continue to grow and as traditional sectors continue to digitize, there will be greater demand for data center infrastructure and high computing capacity.

2. The “Eastern Data, Western Computing” plan was first introduced at the end of 2020 when the National Development and Reform Commission (NDRC), the Cyberspace Administration of China (CAC), the Ministry of Industry and Information Technology (MIIT), and the National Energy Administration (NEA) jointly released the Guiding Opinions on Accelerating the Construction of a National Integrated Big Data Center Collaborative Innovation System (the “guiding opinions”). These guiding opinions first proposed the construction of a nationwide integrated data center system. 

Product Spotlight - MEMS (Microelectromechanical Systems) AND Global Market Forecast

1. MEMS or Microelectromechanical Systems are microsystems with both electric and mechanical functions. Built with the same advanced techniques that make today's integrated circuits, MEMS are everywhere around us. The tech is miraculous but the industry has long struggled with several significant economic issues. 

2. Global Micro-Electromechanical Systems (MEMS) Market Report 2022: Market to Reach $16.9 Billion by 2026 - Consumer Electronics Segment is Expected to Account for $10.3 Billion

Malaysia Makes Amendments to its Patent Act: Key Highlights

1. On March 18, 2022, the Patent (Amendment) Act 2022 [Act A1649] (the “Act”) and accompanying implementing regulations went into effect, updating the law originally created in 1983. The Act, which Malaysia’s upper parliament passed in December 2021, brings Malaysia’s patent regulations in line with a number of international agreements the country is a party.

2. Major international agreements reflected in the Act include the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership Agreement (RCEP), the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), and the Budapest Treaty on the International Recognition of the Deposit of Microorganisms for the Purposes of Patent Procedure (the Budapest Treaty).

Is the US’s Position as a Global Leader for Data Centres Changing?

1. Of the world’s ten largest data centre companies, six are US multinationals and two are Japanese. Many are questioning, however, whether this crop of data centre corporates will maintain their dominance of the industry’s cross-border investment and global footprint – and what does this mean for companies planning corporate expansions overseas?

Robotic Process Automation (RPA) Costs & Return on Investment (ROI)

1. As of 2020, 72% of companies surveyed by Deloitte had already implemented RPA tools. Improved compliance and quality topped the list of benefits reported by RPA pioneers. At the same time, 59% of enterprises registered a significant RPA-related cost reduction, with the median payback period for RPA projects spanning less than 12 months. 

2. However, only 3% of companies succeed in scaling their digital workforce, while up to 50% of initial RPA projects fail. Given that robotic process automation costs for a single software bot may range from $5,000 to $15,000, your business might end up spending millions of dollars to achieve company-wide automation. 

3. Before making the investment, most production and operations managers will need to provide sufficient evidence to company leadership and stakeholders that automated machinery would be a profitable venture throughout the lifecycle of the equipment.

4. What are the key factors behind the presumably high robotic process automation cost? Most importantly, what should your company do to realize RPA’s full potential without breaking the bank? 

How Manufacturers in Less Developed Regions Accelerate the Adoption of Industry 4.0?

1. The manufacturing industry is well aware of the benefits Industry 4.0 technologies can offer. Connectivity, AI/ML, IoT, AR/VR and other technologies are available to provide data and streamline processes and improve manufacturing across diverse industry segments.

2. Yet whilst awareness is broad, uptake is less so. Industrial digitalisation in the UK can be London-centric, leaving regional manufacturing hubs further behind in the adoption of new technologies. The likes of Make UK and Innovate UK are making great strides in broadening adoption, but there is further to go.

3. Part of the challenge lies in regional skills gaps and talent shortages, with businesses outside of city hubs unable to realise the full benefits of Industry 4.0 technologies. There is a lot of incredible technology out there to integrate into manufacturing operations – but it is not always accessible. Regionally, there needs to be equal access to technology alongside abilities to upskill staff and train talent regionally.

Impact of service level agreements on a manufacturing organization & ISO 27001

1. Managing a service level agreement (SLA) is a continuous process and should be constantly monitored, updated, and improved to meet the business needs of the manufacturing organization.

2. A service level agreement (SLA) with a cloud service provider (CSP) is a live document that must be well-understood and negotiated between the cloud service customer (CSC) and the CSP so the manufacturing organization (CSC) can manage and satisfy all security and regulatory compliance requirements in the cloud. When the manufacturing organization signs the SLA as a legally binding agreement with the CSP, it should not stop here because things are not done. They are actually never done.

Malaysia 2Q2022 Vistage-MIER CEO Confidence Index

1. The CEO Confidence Survey is a monthly survey of 100 chief executive officers (CEOs) from a variety of industries in the U.S. economy. The survey is conducted, analyzed, and reported by the Conference Board and it seeks to gauge the economic outlook of CEOs, determining their concerns for their businesses, and their view on where the economy is headed.

2. A reading of the survey index with a value above 50 indicates that the CEOs surveyed are more bullish than bearish on their economic outlook. The Conference Board's CEO Confidence Survey is seen as a leading economic indicator and it competes with Chief Executive magazine's CEO Confidence Index.

IoT Is Changing the Semiconductor Industry; and How Big Data is Applied in Major Industries

1. The IoT semiconductor industry is in continually high demand, especially as people look for increasingly advanced and feature-filled connected devices. However, the specific reasons for the chip’s rise are more complex than some might think. Here’s a closer look at some of them.

2. On the other hand, there are some major big data applications where it has become a game-changer for increasing efficiency, enhancing customer service, reducing costs, making better products, and much more:

Key Trends in Food Processing & Strategies for Food Tech Companies

1. The impact of COVID-19  on the food supply cannot be overstated. The virus is widely believed to have originated in the food supply in China in 2019. It’s therefore not surprising that the resulting global pandemic has changed the food production industry forever.  

2. With on-going quarantines, lockdowns, restaurant closures and work-from-home, consumers had more time to research how their food is being produced and where it is coming from. From the place of origin of food products, to ingredients, to packaging and food safety, American consumers have drastically altered their perception of what a desirable, safe, and delicious food product is. 

3. There are six key trends that U.S. food producers are reacting to. 

4. BCI Global has defined four strategic directions for innovative food tech companies with clear international ambitions to establish the right manufacturing and supply chain footprint for the future. They are as follows:
• Differentiating between short-term capacity development and longer-term strategy
• Creating the right ecosystem
• Selecting the optimal location for new operations
• Footprint risk management.

Can FDI fix the semiconductor supply chain?

1. Global semiconductor supply chains dramatically broke down during the Covid-19 pandemic, and everyone agrees this must never happen again. Could FDI fix this problem?

2. While China and the US represent the two largest buy-side markets for semiconductors, they only rank fourth and fifth, respectively, in the manufacturing of chips, according to the Centre for Strategic and International Studies (CSIS).

3. The next decade will see both countries prioritising their onshore manufacturing capacity to enable economic growth and avoid the severe global chip shortage seen in 2021 after the Covid-19 crisis. On 28 July 2022, US Congress passed the Creating Helpful Incentives to Produce Semiconductors for America Act, colloquially known as the Chips Act, which includes $52bn of incentives designed to onshore semiconductor manufacturing capacity. 

4. Although the passing into law of this congressional act is momentous for the future of the global semiconductor industry, it is just one moving part in a global reshuffle in which foreign direct investment (FDI) will play a critical role.

Digital Twin - Dynamic Virtual Copy

1. A digital twin is a dynamic virtual copy of a physical asset, process, system or environment that looks like and behaves identically to its real-world counterpart. A digital twin ingests data and replicates processes so you can predict possible performance outcomes and issues that the real-world product might undergo.

2. The power of digital twins comes from connecting real-world assets with real-world data, so you can better visualize them. Digital twins enable cross-functional teams to collaboratively design, build, test, deploy and operate complex systems in interactive and immersive ways. They help companies understand the past, view present conditions, and prevent future problems. They inform decision-making through sales and marketing insights, analysis, 3D visualization, simulation, and prediction.

Malaysia is expected to be the largest beneficiary from Regional Comprehensive Economic Partnership (RCEP)

1. As the Regional Comprehensive Economic Partnership agreement entered into force for Malaysia on Friday, China and Malaysia began to impose RCEP tariffs on each other, which will bring new economic cooperation opportunities.

2. Within ASEAN, Malaysia is expected to be the largest beneficiary of the agreement in terms of gains in exports, with a projected $200 million increase, according to the country's International Trade and Industry Ministry.

3. Under the RCEP agreement, the two countries commit to expanding market opening on the basis of China-ASEAN Free Trade Area Agreement, and some goods can enjoy new tariff preferences.

CPTPP Partner : Malaysia & Canada

1. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trading block that represents 495 million people with a combined gross domestic product of CAD $13.5 trillion – a full 13.5% of global GDP. Through the CPTPP, Canada has preferential access to half a billion consumers in some of the world’s most dynamic and fast-growing markets, which will strengthen Canadian businesses, grow the economy, and create more well-paying jobs for middle class Canadians.

2. The CPTPP entered into force for the first six countries to ratify the Agreement – Australia, Canada, Japan, Mexico, New Zealand, and Singapore – on December 30, 2018, for Vietnam on January 14, 2019, and for Peru on September 19, 2021. For the remaining signatories (Brunei, Chile, and Malaysia), the CPTPP will enter into force 60 days after that country ratifies the Agreement.

Key Differences Between Automation & robotics and How Robotics Solving Labor Shortages

1. Here are the key differences between automation and robotics and how to use them to your advantage.

2. Robots have emerged as the top solution to labor shortages. Persistent labor shortages have since debunked the idea that robots are somehow stealing jobs from humans. On the contrary “ robots are enabling humans to go after the jobs they truly want.