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Making your manufacturing more profitable

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The manufacturing process is very complex. It is made up of multiple elements that make any number of problems possible. At the same time, manufacturing contains an immense potential for making a profit. Here are a few suggestions on how to make manufacturing more profitable.

Rescheduling

Manufacturers often rely on parts and pieces that are shipped to them from many different parts of the world. Because a manufacturer cannot produce without the initial parts, planning for disruption can be an effective way to increase profits. By implementing software that can connect with the other companies who are shipping the parts to the manufacturer and that can predict resource conflicts, knowing when to send a job to the job shop will become much more predictable. This will save the manufacturer money and subsequently bring in a higher profit.

Documentation Strategy

Besides being able to predict possible kinks in the manufacturing system, tracking parts through their journey to the warehouse, creating those parts into a product, shipping those parts to the stores, and placing the parts on storeroom shelves in an effective way can help manufacturers earn a higher profit. By using software and tracking systems that allow a manufacturer to track products will allow them to correct any shipping issues before they begin to cost the company money. The manufacturer will also be able to console clients who may be anxiously awaiting products, thus improving relationships with clients. This will not only lead to a solid client base, but a reputation that will attract new clients.

Rapid Prototyping

Manufacturers who are linked to companies who design new products should consider rapid prototyping. This process will allow manufacturers to inexpensively produce a prototype for their parent company without investing in super expensive machinery. The benefit to this is that if a prototype is scrapped before production ever begins, then the machinery that was purchased to create that prototype would have to be scrapped as well. However, if rapid prototyping is implemented, then companies will be able to test a product before investing high amounts of money, preventing a possible loss.

Process Change

Process change is just that, a change in process. If a manufacturer changes the process by which the company operates, the company stands to improve productivity and profits in the long run. However, the company should take into consideration the possible short term losses that may occur with the change.

Quality Management

One of the most popular methods for saving money and increasing profits is the implementation of a quality management program. Some popular methods are the Total Quality Management method and the Six Sigma method. Each of these requires a complete review of all aspects of the manufacturing company. The idea is that by reviewing the entire company, problem spots can be identified and solutions can be created. This allows the company to improve the quality of the products they produce along with increase the effectiveness of their entire business process. This entire process results in a more efficient company and more overall profits.

Manufacturers maintain very complex companies that require many things from many places. In order for them to improve profits, they must find ways to keep each element of the company functioning effectively. They must also find a way for each element to function smoothly with the other elements of the company in order to produce a high quality product and maintain a strong client base. With each improvement to different aspects of the manufacturing company, will come an increase in profits.

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Categories: Business Plan, Manufacturing, Productivity,

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Posted by DF
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