3 Manufacturing Methods for Modern Entrepreneurs
The manufacturing landscape of the 20th century was rigid and mass-production-oriented. Much has changed since, and today we see manufacturers relying on pull principles, aiming for flexibility and optimization.
Modern entrepreneurs simply can’t afford to waste resources, whether it’s time or raw materials. They’d rather use smart technologies, such as manufacturing software, to analyze historical data, predict demand, and optimize inventory management.
In this article, we’ll look at the top three manufacturing methods for modern entrepreneurs looking to maximize productivity
1. Reduce Waste
Focusing your efforts on reducing waste is key for successful manufacturing. Old-school manufacturing methods focused on meeting their mass production goals, disregarding unnecessary waste and excessive consumption of supplies. Today, however, manufacturers are focused on being lean.
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Lean manufacturing is a method used to ensure that the right materials are available in the right place, at the right time, and in the right quantity to create products only according to demand.
2. Maintain Quality
Anticipating errors or malfunctions in the production process ensures maximum productivity. This in turn, is crucial for manufacturers to consistently deliver high quality. To do so, you have to perform maintenance of machinery and process optimization on a regular basis. The concept of Six Sigma helps solve this challenge.
Six Sigma is a tool used for process improvement and quality control. It helps improve not only the entire business performance, but also the customer satisfaction levels. It does so by eliminating the main causes of defects in manufacturing processes.
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This means that it also helps to reduce the cycle times and operational costs.
While lean manufacturing focuses on improving the flow between processes to reduce waste, Six Sigma aims to improve the processes themselves.
3. Accelerate Production
With lean manufacturing dominating the product-making businesses, entrepreneurs are pressured to make their processes work faster and ensure that demand is met. Customers’ expectations for personalization options makes that more difficult than ever.
The need to offer online shopping experiences, customization options, and a variety of choices means that manufacturers today must be flexible and ready to adapt, while continuing to mitigate waste and maintain quality.
The customer demands are constantly changing, which means that manufacturers must become more strategic in order to remain competitive. The three methods outlined in this article helps manufacturers reduce costs, maintain quality, and accelerate production through lean manufacturing, Six Sigma principles, and flexible processes – all in an attempt to maximize profits.