On Monday, General Motors (GM) said that it will spend $700 million at eight different Michigan facilities with the goal of getting its new rechargeable electric car, the Chevrolet Volt, road-ready. Obviously, this is a technological and economic boost for the state of Michigan and, as we’ve seen, what happens in Michigan affects what happens in other states. A rebounding economy in Michigan can clearly lead to a rebounding economy in nearby states and everywhere else.
These investments by GM will come in the form of new machinery and equipment. GM realizes that improvements in their facilities and processes, in their own infrastructure, will lead to better products and profits. Making a better product – one your customers want, with the quality they expect – is crucial and doing so at a minimum of effort and cost just makes sense. GM is like any other business – one that has struggled or not – they need to make the best possible products and offer the best quality for the best price. Improving their facilities and machinery and getting them up-to-date with the best technology available today is the way to stay, or to become, competitive.
Much of the investments and future plans are efforts to spend more money on products to get them to market faster. A faster design, implementation, and production cycle equals a faster return on investment. This is the model that every successful business must follow and manufacturers are no different. If anything, this model applies to them even more so.
Read the full article in the Chicago Tribune
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