If your major focus for the coming months and years is reducing labor costs, increasing factory throughput, or optimizing pricing strategies, you’re not alone. Optimizing operational efficiency is becoming business-critical for many manufacturing companies who want to stay competitive in a space constantly challenged by workforce shortages, price wars, and customer expectations while you try to keep margins high.
In order to set yourself up for success, you need to answer questions like:
What is your profitability per order? What affects your capacity and how long does each process take to complete? What is the ratio of value-added vs. non value-added time of your workers? What exactly causes the unproductive time?
Internet of Things equips operations managers with accurate and automatically generated productivity and capacity data so they no longer have to rely on guesswork or error-prone manual reporting while making such strategic decisions.
What motivates manufacturing companies to rethink their productivity
What areas of their day-to-day operations are hardest to optimize due to the lack of accurate data
How job time tracking addresses their challenges and why IoT is the most viable option for implementing it
The benefits that IoT-based digitization of manufacturing assets brings