Ambitious manufacturers are well aware that the size of the profits they can turn over is in direct correlation with their productivity. Run a factory or facility that’s not highly productive, and you can be sure that your operating costs will eat up your profits. Drive-up productivity, and suddenly you’ll be producing more goods for less cash, seeing that reflected in your profits. In this article, we’ll provide tips for those with the ambition to become more productive, laying out how you can achieve that ambition in four easy steps.
Let’s first look at the raw materials you use in your firm. The more of these that go to waste, the more that you’re paying for material that you cannot make a profit out of. On the other hand, the more of your raw material that you’re conveying into a product, the more you’ll be transporting material to profit. Setting a goal of producing zero waste as a manufacturer may be overly ambitious, but it’s a laudable aim – something that’ll help you do your bit for the climate, as well as maximize your profits over time.
Next up, let’s think about the systems by which you’re producing your goods. You’ll be aware of these flow systems, as they’re associated with your production line and the steps materials have to go through in order to come out the other end of the line in the form of a product that’s ready for the market. But some systems are superior to others. Take the 5S system, for instance – designed by manufacturing experts to slowly increase productivity at any facility. It’s a system that has plenty of plaudits and can often make sense of more disjointed and confused systems at older facilities.
Your employees will play some part in your productivity – indeed, they might play a huge role in how much you’re able to produce over a given time. For instance, if some of your workforces comprise engineers and mechanics, the quality of their work will directly influence how your machines work and how long they last before requiring a repair or a replacement. If you can motivate your staff – through higher salaries, better benefits, and more flexible hours – you’ll be able to retain the most talented employees, who are in your firm to help you produce as much as possible. Setting targets for your employees to reach will help boost productivity too.
One of the most sure-fire ways to give your productivity a boost is to invest in new machinery. The most modern machines are typically double-digit percentages more efficient, helping firms to really push products off their line in less time and for less cash. While some of these advanced machines are incredibly costly, you should always consider making these upgrades – especially if you’re about to reach a peak in your production calendar and you need an extra push from your workers and machines to get you reaching your ambitious targets.
There are plenty of ways to make your firm more productive for ambitious manufacturers, but the four methods listed above are perhaps the most accessible and easy to institute in your firm.