July 4, 2016 by Alyssa Dalton
Jul. 4, 2016 – In today’s fast-paced manufacturing world, businesses are frequently pushed to do more with less — manufacturers of all sizes feel the pressure to produce top-quality products in a manner that is cheaper, faster, more efficient and cost-effective. It’s a cycle that never ends and can often cause problems on the shop floor if the correct people, process and technology are not in place.
People, process and technology are three important tenets your business can explore for alternative designs and solutions in the pursuit of excellence. After all, it takes money to make money, and investing in these three pillars is a foolproof way to boost your shop floor productivity and sustainability. It’s all about working smarter, not harder.
In May, The Conference Board of Canada released a report briefing, stating a lack of business investment could derail Canada’s economic growth. What’s most surprising about the briefing is that even though the Conference Board found many manufacturing industries at, or close, to full capacity, it saw that business investment outside of the energy sector still remains sluggish.
“For the past year, we at the Conference Board have stressed the need for a rebound in business investment to support Canada’s economic growth,” said Matthew Stewart, associate director, economic forecasting, and co-author of the briefing in a statement. “If non-energy investment does not rebound over the coming months, capacity constraints in some manufacturing industries could impact future growth.”
This sentiment is echoed by the findings of KPMG’s Canadian Manufacturing Outlook 2015, an annual survey of more than 200 manufacturing executives. Released last fall, the report notes, “The time to invest in growth initiatives, such as expanding to new markets and developing new products, is now. If Canadian manufacturers don’t act quickly, there is a very real risk of losing ground to global competitors.”
“The current incremental approach to growth and innovation is no longer the safety net it was for Canada in past years,” states the report, adding that the risk-averse attitude of storing up cash and putting innovation and investment on the back burner is no longer enough — manufacturers have a “real opportunity” to embrace disruptive changes in this global economy.
Investment in your business operations shouldn’t be something scary, but rather, an approach that is embraced by shop floor staff all the way up to top floor management.
At Manufacturing AUTOMATION, our goal is to help you improve your manufacturing efficiency. This is why we are hosting a webinar on Tuesday, July 19, at 1:00 p.m. ET / 10:00 a.m. PT to look into how you can increase shop floor productivity, improve operational output and achieve sustainable excellence in manufacturing. Sign up now for The Shop Floor: Practical Solutions to Achieving and Sustaining Excellence in Manufacturing to hear from guest speakers George Barnes, Operations Kaizen Leader at Argus Industries, and Darshnee Shah, Product Manager at SYSPRO Canada.
Can’t make the live date? Register anyway and SYSPRO Canada will send you a link to the on-demand webinar when it’s available.