Streamlining your production management is one of the best ways to improve your daily business operations as you look for ways to boost your profits. When you create a well-structured production management plan, you will not only save time but also enhance productivity and improve the management of raw materials, equipment and other resources as you work in sync towards a single goal.
Every successful business function needs a sound plan of action and production management is no different. As a business owner, you need to curate a roadmap that is in perfect alignment with your bespoke requirements.
At Doorway Services, we have put together a list of our top 6 tips to make production management better!
Let’s dive in!
1. Pay Attention to Details both Big and Small
Start by taking into account the various benefits of introducing changes to your business. Think about how working on a master production plan will help better your business operations.
For instance, if you reduce labour costs by optimising wasted time, you will significantly improve your workflow. Improved work processes will enable you to lessen the need for backup stocks and work-in-progress inventories.
When your delivery times are on point you will quickly see the positive impact on your bottom line as fewer hours are spent dealing with errors and problems in the process.
2. Use Lean Manufacturing Process
With lean production planning, you can brainstorm with a group of employees to come up with ways to reduce waste. The idea is to eliminate any process that costs money but doesn’t add any value to the finished product.
3. Just-In-Time Inventory Management
This type of inventory management helps deal with the strain and the resulting costs of running out of stock or holding too much stock for your customers.
When cost-cutting is concerned, holding too much stock can be detrimental for your working capital and your turnover. Similarly, not having enough products stocked up can have the same negative impact. This means you have to strike the right balance between over and understocking.
With just-in-time inventory, you can get the best of both worlds as you order stock at a time that is close enough to the date when these materials will be in demand but not so close that your cash flow gets tied up to the stock. This is a win-win for your production facility as you streamline your finances and assets to work for you.
4. Observe the 30-Day Rule
Holding 30 days’ worth of inventory means that at any given time, you fill up on stock periodically to maintain only a month’s worth of stock and no more.
Depending on your sales pattern projection, the amount of stock required can be gauged and anticipated. If you unexpectedly receive a big order from a buyer, this tactic might not be ideal as you won’t be able to fulfil the order in the available time. So, think about it proactively and give yourself some leeway to work around any issue that may arise.
It might do you well to hold emergency stock, but you have to decide exactly how much stocking up you need to do without tying up your working capital and revenue.
5. Invest in Technology
Technology is critical to business success in 2020 so ensure that you make the most of it to make your production management better. Use digital software systems to be cost-effective with your business. Invest in automation not only within your workflow processes but also in your physical warehouse space and production floor.
For proper accounting and inventory management, it is worth investing in good Enterprise Resource Planning (ERP) system. Installing automatic industrial doors with add-on door accessories like the biometric system will help improve staff management in your facility.
For better results and effective financial management, it is best to review your existing processes and systems. This will highlight inefficiencies in your work processes which in turn will help make production management more effective.
6. Eliminate Miscounts
Miscounts usually happen when you receive fresh orders as you stock up your inventory. In these cases, there’s a possibility of manual systems not being 100%accurate. Therefore, to reduce the risk of mistakes and miscounts, upgrading to EDI (electronic data interchange) or bar code scanning systems is ideal.
Similarly, you can sync your software systems with that of your suppliers to avoid room for any error.
Get In Touch With Doorway Services
Enhance your production management by implementing the tips mentioned above because often a new perspective can help you turn things around for good. It is best to seek external help if you are unsure of the changes you should implement.
Our door repair company is well known for providing professional and bespoke automatic door installations in the Northamptonshire county and surrounding areas.
So, give us a call today to check efficient door installation off your list!