How to Improve Your Manufacturing Profitability
Today’s manufacturing industry is more competitive than ever. As a manufacturer, maximizing your profitability is essential to the health of your business and the satisfaction of your customers. We have three recommendations for you to improve your manufacturing profitability.
1. Implement automation.
Today, we are amid the fourth industrial revolution with technological advancements. There is no time to automate like the present. Industrial robotic automation is taking the manufacturing industry by storm with its numerous advantages. Automation increases productivity, decreases costs, improves safety, and enhances product quality. Where can you implement automation on your floor?
2. Optimize your people.
With the variables involved in labor between the current overwhelming shortage, inability to find skilled individuals, and costs associated with hiring and retaining good work, it is imperative to ensure that your associates are being put to good use! Put labor where needed and automate any repetitive tasks. Data shows that in the average manufacturing facility, the costs of labor typically outweigh the revenue earned. Although automation can be expensive, the ROI proves itself in reducing unnecessary costs.
3. Commit to continual machine maintenance.
In order for your machines to run consistently at full capacity, scheduled maintenance is crucial. Automated machinery alleviates many challenges within manufacturing floors but must be properly tended to for the most efficiency and production. Schedule maintenances ahead of time to prepare for the machine downtime and ultimately stay ahead of your competition. It is better to intentionally schedule downtime for machine maintenance than have unexpected downtime from issues or broken equipment.
Automation is no longer a luxury, but a necessity. Implement these three recommendations to improve your manufacturing profitability.
Contact us at MTA today to start a conversation about automating you manufacturing plant.