Continue reading "The Use Of Poka Yoke"
There are several tools that you can use within your manufacturing plant to increase production and to provide you with higher quality products to deliver to your customers. What are some tools that you need to use? One of the tools that is popular is called Poka Yoke. What is Poka Yoke and how can it be integrated to your company? With Poka Yoke your company will focus on finding a way to reduce wastes but to focus mostly on mistake proofing. You want to create a company that uses the tools it has properly. From things such as time in changeovers to the way in which your employees do their job duties, you want to reduce or eliminate all of the wastes.
Continue reading "Should a manufacturing company use purchase order financing"
Manufacturing companies often have a difficult time purchasing the supplies they need to keep their business alive. Purchasing the supplies and equipment they need to create the products for their customers is very expensive and without the funds to purchase the initial raw goods, they will be unable to fulfill their orders.
Continue reading "Manufacturing equipment financing"
Even if your company provides excellent maintenance to your machinery, you still need to purchase new machinery at some point in time. Replacing outdated and broken down equipment will make your business more productive and generate higher profits for your organization. How can you afford to invest in new manufacturing equipment with the high cost? Can you really afford to take on another loan?
Every company has some type of manufacturing overhead. Unfortunately manufacturing is an expense that can sometimes be hard to control. It is an expense that is a little different to work with as you are unable to charge it to a project or to a product that you sell. Manufacturing overhead allows you to stay in business but they are harder to control as they cannot be directly pinpointed to a single product or service.
Business Process Improvement (BPI) focuses on helping businesses make changes in the way they are currently doing business. It works with three simple steps:
1. Defining the organization's strategic goals and purposes (Who are we, what do we do, and why do we do it?)
2. Determining the organization's customers (or stakeholders) (Who do we serve?)
3. Aligning the business processes to realize the organization's goals (How do we do it better?)
Entrepreneurs all over the country are talking about government grants and are trying to find every way possible to use the money that is available for their business. There are many different types of grants available for existing businesses and especially those in the manufacturing sector. Here are some tips to help you win them.
Almost all business owners are looking for new and inventive ways to help them save money and to get more money to put into the business to make it more successful. This can be a challenging task for any business no matter what the size. But there are many opportunities available and government grants are one of the options that businesses can take advantage of to help fund their business.
Government grants are often seen as a great way to get money to develop or start a business and to get money for free from someone who never has to be repaid. There are a lot of different tricks involved with winning a grant and then there is the question of how the money can be spent. Here is some more information about using a manufacturing grant.Continue reading "Using a manufacturing grant"
Finding money for a business can be a challenging thing to accomplish, but there are many different places you can get money for your manufacturing business. One potential source is grants and subsidies intended specifically for manufacturing businesses, but you have to know how and where to look for them.
Business grants play a very important role in the creation and growth of small businesses in America and many people know that small businesses are very important to the overall economy all over the world. Because grants play such an important role in the success of many businesses, they are worth taking a little more time to understand. Here is some info about applying for a business grant.Continue reading "Applying for business grants"
Continue reading "Finance software for manufacturing"
Manufacturing companies need finance software to help them keep track of vouchers, invoices, credit memos, and to keep their information secured. Finance software will help your company with your accounts payable and accounts receivable. It also helps companies control their cash management, general ledger, and other information. Using finance software will keep your manufacturing company competitive. The finance software helps to prevent inaccurate information and it keeps data entry errors to a minimum.
Securing your business's financial future is a priority for most business owners. While this can be done in a number of ways, many businesses turn to investments to help them with their financial growth.
Business investing is a little different than investing on your own. If you are just starting out with investing, or if you feel like your investments could use some help, you can improve your investment portfolio in a number of ways.
Know that there will always be risks
By definition, investing will always carry a number of risks. Risk is defined as the possibility of gain or loss on your investments. These risks can include losing money if the market fluctuates (which it inevitably will), being too cautious with your investments and in turn not beating inflation, or not saving enough or at all. That's why it's important to realize that investing will have risks associated with it for your business, regardless of whether you want to take them or not. Knowing this before you begin your investment plan can help you make a more realistic plan in terms of what to expect.
Investments can provide you with a sizeable return on your money, if done correctly. Anyone can invest, whether you do so as an individual or as a business.
There are a number of different ways you can invest your money. The following is a look at various investment strategies and their pros and cons.
CDs, or cash deposits, are a common and popular form of investing. With a CD, you give the bank a fixed amount of money, which they retain for a certain amount of time. This amount of time varies but typically goes from a few months to a few years. At the end of that period of time, you get your principle plus the interest back at a fixed rate.Continue reading "Common investments and their pros and cons"
Lean manufacturing was developed in part from the War Manpower Commission that led to the Toyota Production System (TPS). Lean manufacturing is a concept that focuses on eliminating seven wastes. Toyota defined three types of waste: "muda" or nonvalue-added work, "muri" or overburden and "mura" or unevenness. By eliminating waste, overall quality can be improved and production time as well as cost can be reduced.
The Toyota seven wastes are as follows:
- Over-production (production ahead of the demand)
- Waiting Time (waiting for the next production step)
- Transportation (moving products that are not required to perform the processing)
- Over-Processing (Poor tool or product design creating activity)
- Inventory (Finished product not being finished)
- Motion (people or equipment moving or walking more than the production requires)
- Defects (Effort involved in identifying and fixing defects)
In the manufacturing business insurance needs for employers and employees are extremely important. It is absolutely necessary to have insurance if you work or are running a manufacturing plant, but it is difficult to decide sometimes what kinds of insurances you need when you have a manufacturing plant.
Commercial Liability insurance
You can get some insurance package deals that will bundle together general liability insurance with property liability insurance. These packages are referred to as BOP or Business Owner Policy. The Business Owner Policy will usually cover most of the manufacturing liability needs, but be it sometimes differs with the size of the manufacturing plant.
Manufacturing, as a business, has been with us for quite a long time. The computer has been with us for a shorter amount of time; the internet a shorter amount than that; and software for manufacturing firms is just beginning to pick up speed.
The internet, of course, changed everything for manufacturing firms. Manufacturing has always been a global affair-because different parts of the globe feature different natural resources, for example, so that the harvesting of those resources had to be done in one place but transported to far-off others-but until the internet arrived, getting information across the globe (not to mention more tangible things, such as monies) was a much more laborious process. Still, though, in spite of manufacturing's obvious need for software to help it manage its many concerns and interests, software companies have been slow in responding. Even today, the manufacturer is fairly limited in his or her choice of software providers to choose from.
If you have employees, whether you have a few employees or a large number of employees you are going to need this type of insurance. In fact in most states this type of insurance is required for all businesses, but in some industries it is more important than others because of the nature of the work and the risk of accidents. But basically this type of insurance is used to protect employees who have been injured on the job. Basically this type of insurance will pay for medical coverage for employees who are injured at work and it will also pay benefits to the employees if they have to miss work, basically it will give them some type of income while they are unable to work. How you obtain this insurance coverage can be one of two ways either you get it through the state or through a commercial insurance firm, this depends on where you live.
Cutting costs, not quality when hiring. That is something that is a process that takes skill. The reason is that there are so many different things that need to be looked at.
How much does it take to get the attention needed to obtain applicants?
Who will do the review of the resumes and complete interviews?
Where and who will be doing checking on credential, previous work, and references?
What are the costs of administrative services for the interview process?
As most of you are probably already aware of the costs for your manufacturing are usually called manufacturing costs and they refer to any costs that you incur to make your product, with the exception of amortization and depreciation. But manufacturing costs can include both fixed and variable costs, remember that fixed costs are costs that stay the same no matter how much of the product you make and variable costs are costs that change depending on the amount of product you are manufacturing. And as most of you are probably already aware of if you can lower your manufacturing costs you can increase your profits, which means more money for the company, and this can actually spill down to the employees. But how do you decrease manufacturing costs without harming production, which means lowering overhead costs without cutting back on how much product you are manufacturing. The good news is that there are quite a few ways to decrease your overhead costs in manufacturing without harming your product output.
Here are some ways to decrease your cost of manufacturing.
There are a lot of different things that you need to take into consideration when you are into manufacturing. One thing that you need to keep in mind is how you can save money. One way that you can save money on your manufacturing is to get raw materials for less. If you want to get your raw materials for less but don't know how here are some tips.
The first tip on how to get your raw materials for less is to cut out the middle man. The best way to cut out the middle man is to find a wholesaler. There are different wholesalers out there so you need to make sure that you watch out for the ones that are really wholesalers and the ones that are buying through wholesalers to sell to you.
The second tip on how to get your raw materials for less is to buy raw materials that might have a slight flaw that isn't going to affect the safety value that you would be using it for. For example you might be able to get wood that is discolored for cheaper than wood that has a fine grain all the way through it. If you are just grinding up the wood or painting it black it wouldn't matter that it was discolored to start out with. This is just one example of flaws that you can look for to help you get raw materials for less.Continue reading "How to get your raw materials for less"
The industry of manufacturing is faced with a lot of criticism regarding the negative environmental impacts of manufacturing plants in general. Environmental concerns are on the minds of all parties involved. Emissions of hazardous waste into the air and water as well as product waste are things that no one is happy to be a part of. From a business stand point, waste and the production therefore provides no use to the consumer and is therefore at a cost to the producer. It is in the manufacturer's best interest to reduce environmental costs regardless of political and personal persuasion.
A frequent solution to the problem of waste is to incorporate a lean manufacturing system into the current system of the manufacturing plant. The lean manufacturing system is centered on the reduction of waste. And costs to the environment certainly are waste. Production costs will be saved if there are fewer materials consumed and fewer materials emitted into the air and water.
In the business world as in the regular world, everyone does what he or she can to get higher quality for lesser price. It's not an easy thing to do. If you're speaking about wares, you're speaking of coupon cutting and bargain shopping. If you're speaking of business performance or manufacturing performance, though, you're speaking of a different sort of discipline. You're going from a very general topic to a very specific one. To get a higher quality for a lesser price out of your company, very close scrutiny combined with very high levels of dedication and zeal is the name of the game.
What we're speaking of here is the incremental, day-by-day elimination of wastage, whatever form it takes, within your company. By doing so you get a higher quality for a lesser price. You're not paying for waste any more, which allows you to focus on profit, what you're bringing in rather than what you're sluggishly pumping out.Continue reading "What you can do to get higher quality for lesser price"
If you drive cars or live in the United States you have most likely heard of Henry Ford, Henry Ford was a very successful business man in the automobile industry. Henry Ford was able to improve mass production methods and he actually developed the assembly line, which all helped to improve our manufacturing techniques. Because of the improvements that Henry Ford made for manufacturing he was able to produce and sell around ten million automobiles for a decent price, the reason that the price was so low was because of the improvements he made to the entire manufacturing process. Without the improvements the cost of making the automobiles would have been higher, which means that the overall price would have gone up so fewer people could have afforded the automobile. As it was Henry Ford made automobiles affordable for all types of people.
In 1910 a new phrase was coined after Henry Ford, the new phrase was "fordism". Fordism is an economic philosophy that prosperity and high corporate profits could be achieved through paying the workers high wages. By paying the factory workers higher wages they would be able to afford to buy the products that they are manufacturing. The more people that can afford to buy the products that are being manufactured the better the manufacturing companies will do, which means they will be successful and the companies will increase their profits. The great thing about this concept was that it actually worked; Henry Ford was the proof of that because of how successful he was with selling his automobiles.