Where Are Manufacturers Wasting Time & Money In 2020?
The manufacturing sector has been struggling to cope with the challenges of the COVID pandemic. Indeed, the industry sector relies on the ability to have physical interactions, through material delivery, in the production chain, or even in the packing department. Unfortunately, as businesses have had to move their activities online or shut down temporarily to reduce the contagion rate, the manufacturing sector has been hit dramatically.
Today, several months after the first pandemic wave, manufacturers have learned to establish enhanced health and safety measures and health checks to avoid further risks. Yet don’t be fooled into thinking that COVID-19 was the only factor that slowed down businesses in 2020. Indeed, at a time where it is crucial to recoup pandemic losses, the manufacturing sector needs to eliminate unnecessary money waste areas.
Your production chain is too slow
Production time has been amended to ensure the safe implementation of COVID measures. Therefore, it’s important to reduce time-demanding obstacles along the production line. Unfortunately, there are two main reasons why your production chain is not fast enough.
Firstly, the production steps are too numerous. Goods are transported via conveyor belts or other means at too many stages throughout the production chain. As a result, you may waste time not keeping your production workshops in the same area.
Secondly, manufacturing equipment is struggling to perform complex and intricate steps quickly. However, complex shapes and cuts could be done with rapid tooling – If you are not sure what rapid tooling is, click here to read more about it. The principle using 3D printing methodology to speed up time-demanding builds.
Disorganized business fleet
How many vehicles does your business use? Manufacturing businesses are often guilty of not using their business fleet effectively. As a result, it’s not uncommon to have more vehicles than you need. Consequently, manufacturing companies are not making any profit on their fleet investment. Many choose to save money on their business car insurance in an effort to recoup their losses. However, this could be a dangerous strategy. Rather than putting your fleet at risk through an ill-fitted insurance plan, it is more effective to cut down fleet costs instead.
Lack of manual handling best practices
Employees in a manufacturing plant are typically required to carry items, whether these are boxed goods, materials, or test samples. Unfortunately, in an environment where time is more precious than ever, many are unlikely to follow adequate manual handling methods. As a result, injury or damage is more likely to happen, which can slow down production and delivery. Unfortunately, lack of training is not at fault for these mistakes. Increased stress levels and time pressure are likely to affect work practices.
Long-established connections with suppliers
Working with a supplier you trust is a good thing. Yet, a long-term partnership with a supplier could backfire if they fail to keep up with technology innovation to provide cost- and time-effective solutions; you are putting your business at risk by remaining in the partnership.
The manufacturing sector needs to focus on time-saving strategies to recover from the 2020 pandemic. Now is the best time to consider innovative approaches and strategic improvements. Yet, the first step toward profits and growth is to eliminate the grey areas that affect your productivity and income-generation ability. Only then can manufacturers bring their businesses forward.
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