The Canadian economy has show resiliency over the past months after an earlier period of ups and downs. According to The Canadian Press, the number of exports to foreign buyers rose 3.5 percent for the North American country in May. This growth reflects a rosier picture of the Canadian economy, which was also bolstered by news of rising imports.
Economy Gains Momentum
Dawn Desjardins, assistant chief economist with the Royal Bank of Canada, explained the rise in the number of purchases from outside of the nation was likely tied to the need for equipment, which may indicate greater investment in the manufacturing industry. Meanwhile, the housing market has experienced a gradual decline in activity, and Canadian bankers are eyeing exports to help supplement the economy. Combined with recent news of an emboldened American manufacturing sector, there's reason to believe that Canada will benefit from strong exporting figures.
At the same time, this news means business owners will need to invest in their data infrastructure to ensure they maintain a strong supply chain. In fact, the Canadian arm of the international automaker Toyota recently reported stronger-than-usual sales numbers for June. The company sold more than 18,700 vehicles in the month, which reflects 2.1 percent growth compared to the same time last year. At the top of consumers' list for purchases were Toyota trucks, accounting for roughly half of all sales for the month.
Toyota Canada Manages Expansion with Inventory Controls
During a period of rapid growth, Toyota Canada encountered issues related to its vehicle processing systems and operational procedures. The company realized it was in need of an update, especially at its vehicle processing centers, which had been recently upgraded with the latest technology. However, the processing systems weren't aligned to provide the most accurate and efficient management procedures. Accordingly, Toyota collaborated with RFgen to create a yard management system that provided workers with mobile technology and advanced automation tools. With access to rugged mobile devices and radio-frequency identification equipment, workers were able to actively track the progress of vehicles as they entered the yard and moved to the processing center.
The data management solution allows Toyota to gather data it uses to analyze capacity, order parts and conduct pre-sort planning. Each vehicle is given a unique RFID tag, which can be used to locate it and dictate what information forms are needed, parts allocation, work order tracking and yard placement. When a vehicle reaches its final point in the Toyota facility, carriers are automatically notified it's ready to be delivered.