For a business to survive, its owners have to keep innovating and improving its processes to make them more efficient in a world that grows increasingly competitive. This is because the methods of production that were thriving during the industrial revolution are not as attractive as they were back then.
As technology advances, we find new ways of doing things in a cheaper and efficient manner. If a business is progressive and adopts this new concept, they are more likely to survive and satisfy both their customers and investors. The ability of a business to produce more is critical in satisfying the ever-growing population as well as capitalizing in economies of scale.
The following are some of the ways in which a business can drastically increase its production capacity:
Automating the production system
Automating the manufacturing system is arguably the most popular method of increasing production while still minimizing the cost of running. Automation technology has seen tremendous growth due to a high demand for automation systems by the manufacturers. Manufacturing giants have already realized that investing in an automation system costs the business less to run and the production is more.
Automatic machines are able to crank out more products compared to humans. Most humans can only have a limited amount of strength and ability per day. As such, they can only produce a certain amount of goods or man-hours per day before they need to rest. Machines, on the other hand, run on electricity or other forms of energy, which means that their ability to produce surpasses what a human being can produce.
Automatic systems are also able to continue production around the clock during the day or night; machines do not need to rest unless they break down or overheat. Automatic systems are also more consistent than humans are and are able to produce more accurate and precise goods than the humans.
The second way you can improve your company’s production is by continuously training your employees, both in the production and administrative areas. Training the employees ensures that the workforce is informed and equipped with the latest and useful skills that they can apply to make their work more efficient.
A well-trained workforce is able to come up with an innovative way of achieving their goals as well as those of their employers. This workforce has enough knowledge on troubleshooting problems quickly, thus saving on the downtime and ultimately increasing production.
A business should also invest in motivating their employees as they continue training. They should be offered tokens of appreciation whenever they achieve their goals and targets that have been set up by the management.
Minimize on time wastages
All businesses from the fortune 500 companies to local SME’s all have 24 hours in a given day. The real difference is on how they utilize it. Most of SME’s lose out to the big companies because of how they manage their time.
It is important to first identify ways in which the company losses time then come up with an innovative and modern way of addressing those problems. One of the ways in which most small manufacturers lose time is through the transfer process from one machine to the other or from department to department.
Employees spend much time moving goods from one station to the other. First, they have to pile them and assign some time or someone to move them to the next process. If a business was to invest in a conveyor system, they would not only save on the time spent pilling the items but also on the man-hours lost transferring the items and the laborers transporting them.
The business would then utilize the time lost in producing more as well as dedicate the time lost to actually producing more items and saving on the costs of movers. These systems are also cheap to run and can move more items compared to an individual.
Bio: Jeremy is a tech and business writer from Simi Valley, CA. He’s worked for Adobe, Google, and himself. He lives for success stories, and hopes to be one someday.