It’s Time For Manufacturing To Join Other Businesses In The New Age

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The manufacturing industry as a whole has been stuck in the past for far too long. While other business industries have thrived with new tech, manufacturing has struggled to keep up. It has reached the point where manufacturing is a dinosaur, an analog clock in the digital age. That’s a problem because there is no industry more competitive and at risk from failure than manufacturing. Just think about how many manufacturers there are on the market right now. The answer is thousands and most are located in countries where costs are significantly lower. Business owners are able to sell their product at prices that a business such as yours might not be able to contend with. This is just one of the reasons manufacturing desperately needs to modernize. As it stands now, many businesses operating on the market will struggle to last for more than a few years.


Excellent Inventory Management

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One of the biggest issues that is affecting the modern manufacturing business is wastage. Specifically, business owners wasting time in their models and running their company. What’s the solution to this issue? Well, we suggest you start by looking into the possibility of smart inventory management. How much time do you waste manually checking stock and supplies? You need to head down to the warehouse to speak to the manager about how many items you have and what you’ve sold. Not anymore, because now you can use a cloud server to complete processes such as this in an instant. With a cloud server, you can receive instant updates about your inventory without delay. There’s no need to worry about how much stock you have left. All the information you need will be available, with the click of a button.
Progress To Paperless

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Are you still using paper in your manufacturing business? This is one industry sector where that is completely unforgivable. You’re wasting resources, driving up expenses and making your business less efficient. You also run the risk of having to deal with errors in paper files and records. Don’t leave your business open to this type of possibility. Instead, set up a paperless shop floor and everything will be expertly managed and documented. You can read about the benefits of this pure system online. But one of the main advantages is that files and records can be updated anytime, instantly. There’s no delay and no need to worry. All your records will be completely under your control. Your business will be running more smoothly than ever with this type of setup.


Specialization And Automation

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There are two changes you could make to your business model that will save you a fortune. The first is specialization. Through specialization, you can cut most of the costs out of your manufacturing model. Rather than making a whole product, you focus on one process of the production. The rest is covered by other businesses, and essentially, your company becomes an outsourcing solution. It’s a highly profitable enterprise because you’ll be able to provide services to a wide range of clients. Instead of selling to suppliers who are unreliable, you’ll be operating a B2B business. It’s easier to make deals under this model, and you will be dealing with owners who are far more trustworthy. Don’t forget, you’re not just cutting down the time it takes to make a product. You will be able to reduce your employee numbers too and cut down energy costs. In short, the whole business model will be cheaper.

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Another option you may want to consider is automation. Similar to specialization, you will be cutting down the numbers of staff in your business. But, you won’t be reducing how much you make. Instead, their jobs will be taken over by automated machinery, on the market right now. We know what’s holding you back from this investment. It’s the cost, and that’s understandable because there is an initial fixed fee. The good news is that you can trust that the cost will be wiped out in just a few years due to how much you save. You will also have ensured the future of your business is secure. You won’t have to worry about your business going under because annual costs will be far lower.

As you can see, there are many changes that could be made to your manufacturing model. The question is, are you ready to take the first step? It can be daunting to shake up the business model. But, it is time for your manufacturing business to get an upgrade.

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About Dequiana Jackson

Dequiana Jackson, Founder of Inspired Marketing, Inc., helps overachieving women entrepreneurs conquer limiting beliefs and create marketing plans that grow their businesses. This includes one-on-one marketing plan development, digital product creation, web design and content marketing. Dequiana is the author of Know Your Business: How to Attract Ideal Clients & Sell More and runs the award-winning blog, Entrepreneur-Resources.net.

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