In this day and age, how does a business compete effectively to gain a profitable share of the market? Well, one of the best ways to do this is to improve your manufacturing productivity. This simple and often under looked segment of your business’ daily operations can have a revolutionary impact on your business. If you want to ramp up your revenue – and subsequently profits – you want to make sure that you are producing more and meeting the demands of the market accordingly. If your production doesn’t have the capability to meet these demands, there is a good chance that your business will falter. When it comes to boosting productivity, you don’t necessarily need to spend a lot of money either – you just have to be resourceful. Here are five effective ways to improve manufacturing productivity for your business.
- Implement stricter hiring practices. There is a good chance that your factory isn’t completely automated – you most likely have a strong crew of employees manning machines and putting the finishing touches on your product. However, if your employees are slow and aren’t performing efficiently, your manufacturing productivity will dwindle. So, your best option is to make sure you are hiring only the best and most experienced employees.
- Include newer and better machines. If you have old machinery in your factory, there is a good chance that productivity is slowing down to a snail’s pace – you may also be dealing with crashes and other problems that can slow down the production process even more. So, you may want to think of getting rid of your old antiquated machinery and updating. For instance, Elite Elastomers – a rubber manufacturing plant – uses all new machinery and their production is efficient and meets market demands.
- Aim high. When you are trying to boost production, you want to have something to aim towards. If you have products on back order, why not fill those orders by producing more. One of the best ways to do this is to implement goals, deadlines and quotas. If your factory has a quota to meet at the end of every month, your employees and factory managers will work harder towards particular goals. There may be a few days where employees are working on overtime, but it will definitely be worth it when you have effectively increased unit production numbers for a given month.
- Cash injection. If your factory doesn’t have the capital to produce at a certain capacity, you may want to think about taking out a loan to hire new employees, repair machinery and to update processes. Many businesses, especially small businesses, find themselves in this situation. So, you may want to take out equity against your business or apply for a loan.
- Create a better work environment. It is also critical that your factory environment is updated and improved. For instance, you want to have brighter lighting, cleaner floors and more organization. In the end, if you can improve the environment in which your factory employees do their job, they will be more motivated and willing to meet certain demands.
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