Running an industry is no joke. And the worst is running an industry which is at a loss. Don’t you want to overcome these difficult times and get your business back in tracks? We are here to help you with this.
These are the simplest 6 tips which will help you to increase the productivity and reduce the operational costs in your industry:
1. Identify The Pain Points and Take Necessary Actions
When you are running a business, doesn’t matter if you provide services or products, you have to identify the pain points in order to curb the operational costs and increase the efficiency. If you are in a food industry, find out why your customers are not served properly? Is there anything that can be rectified in order to get more orders? If you are in aviation, find out why your regular customers have started flying with your competitors?
There are many ways to evaluate your workflow. The best advice which I had got from one of my mentors was to hire third-party inspection agents who’d evaluate and find out your pain points without any kind of bias or agenda.
2. Are Your Employees Unhappy? Talk To Them
It is a proven fact that an industry with happy employees increased productivity by 12%. Give them job security, more opportunities to explore their own talent, a better place to work and keep them entertained so that they’d think 10 times before leaving you for your competitor.
3. Take Help From Handling Solutions
Services such as Material Handling Solutions are helpful in giving much required productive traction to the industrial workflow. The professional handlers will come to your rescue when you need them to take care of your business.
4. Remove All The Distractions From The Workplace
Distraction is one of the most talked about enemies in production and manufacturing lines. If you have a lot of distractions in the workplace, your employees will definitely tend to be distracted and hence, the productivity will decrease. I’m not saying that there shouldn’t be any kind of entertainment for the employees but there has to be a limit to everything.
Put a cap on tea or coffee breaks. 2 breaks in a day is more than enough. Don’t be too much involved in team building exercises as they are the prime source of distractions. Give your employees incentives for good work, the productivity will definitely grow and you’ll save a lot of money.
5. Automate The Workflow To Cut Operational Costs
Automation is the new boom. If your industry has repetitive works then think along the lines of automation. There are a lot of vendors in the market who will design monitoring software according to your needs. They will save you labor cost and time. The accuracy of automation is another thing which is far more superior than manual labors.
6. Invest in Lean and Six Sigma
By adopting the methodologies of Lean and Six Sigma, you’ll notice a growth in your business for sure. Lean and Six Sigma methodologies help in removing waste from the production lines and cutting down the unnecessary variations. The employees should be given training based on these methodologies in order to make a combined team effort.
If you follow these 6 tips, the potential growth is enormous. Hope you liked the article. Please share this with your friends or colleagues who’d be benefitted from there tips.