Boosting productivity is essential for the success of any business; it enhances gross profits and helps maintain competitiveness. Improving the productivity of manufacturing companies depends on the combination of efficient employees and robust equipment and processes.

Driving improvement in all of these areas involve examining current manufacturing practices and making adjustments. Also, rapid technological advancements are bringing new and advanced solutions to increase efficiency. With next-gen technologies like cloud, IoT, and AI-based smart factories and warehouses along with the onset of Industry 4.0, the manufacturing industry is evolving rapidly.

Ways to Improve Productivity:

•  Examine existing workflows: Identify and analyze issues in the current workflow; interpret workforce, technology, and processes required for manufacturing of products as well as the procedures, communication tools and resources available across the organization. Update business processes regularly and applies smarter machining tools.

•  Invest in continued employee education: The world of technology is extremely volatile; new and promising technologies are emerging every day. Hence, workers have to be trained regularly to keep up with the advancements.

•  Invest in maintenance: While new equipment boost productivity, they must be maintained to ensure that they continue working at an optimum level.

•  Introducing Co-bots in warehouses: Collaborative robots or co-bots can be used in warehouses to minimize human labor and perform difficult and repetitive tasks.

•  IoT and Industry 4.0: IoT has become a major component of the Industry 4.0 revolution and has been hailed as the next big thing in improving productivity. Manufacturers are applying IoT analytics for providing real-time supply chain management by enabling manufacturers to monitor inventory levels remotely, track parts and raw materials as they move throughout the supply chain, thereby streamlining cost processes, increasing the manufacturer’s competitiveness in the market, and improving customer service and more. 

Though it is still in the early stages of development, IoT has the potential to enhance manufacturing operations in the future. Adopting the aforementioned ways will improve productivity, thereby increasing revenue outcomes and the opportunity to expand the business.

See Also: Manufacturing Outlook