If you are in the manufacturing sector, you may be working to capacity, but are unable to realize the profits you feel you should be making with the kind of output that you are producing annually. With a few tweaks, you could easily work more efficiently rather than harder or longer hours. There may also be ways you can spend less to earn more. Consider the following key ways your company could see a sizeable increase in profit. In other words, a much greater ROI.
Integrated Business Software
As the old adage goes, sometimes the right hand doesn’t know what the left hand is doing. Integrated business software systems like NetSuite are able to open communications between literally any department based on authorized access. For example, the sales team takes a large order after which they need to send that on to production. Unfortunately, the required materials aren’t in stock, so the purchasing department would need to reconcile what is available against what is still needed.
Instead of sending emails or making phone calls between departments, each department can quickly communicate through the integrated system to get everything seen to within minutes. Time is money and by saving hours of back-and-forth communications, you’ve just saved hundreds if not thousands of dollars in payroll!
Affordable Shipping Solutions
If you are shipping large orders to other businesses, there are more cost-effective options rather than doing it yourself. Companies like AuptiX, use LTL Freight Carriers to help thousands of small to medium-sized businesses each day, making them one of the fastest growing LTL shipping networks in America. Not only are their services quick and efficient, but they are also cost-effective.
Speaking of shipping, most warehouses aren’t set up as efficiently as they can be. Many companies have found that by reorganizing how the stock is shelved makes a huge difference. The one key piece of advice here is to have the most in-demand products stored at chest-to-eye level. These can be quickly and easily spotted so that they can be loaded in a minimal amount of time. Isn’t it interesting that ‘time’ once again enters into the equation?
By saving time you are saving money. Never let any part of the process between taking the order and shipping cause huge delays. It can’t be said enough that time really is money, and if you want the highest profits, you need to increase efficiency while reducing costs at the same time. Do you find your company falling short in any of these key areas? If so, the time to make those changes is now.