Tag Archive: cost reduction

Manufacturing is on the Rise

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There is an air of excitement about the future in manufacturing! Last week, I talked with several executives of manufacturing companies and the next day I was the chair of the innovation awards at the Manufacturing Council of the Inland Empire (MCIE) Manufacturers’ Summit, and it is clear that profitable growth is in the air. Of course, it will not occur unless we focus on the customer, innovation and our people ….to name a few priorities. What are you focused on? One tip to implement this week: Just because many manufacturers are seeing a positive outlook to the future doesn’t…
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Strategies to Reduce Operational Cost without Capital Investment

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As businesses look to find ways to grow profitably and build efficiencies into the process upfront, maintaining low operational costs remains paramount.  It also provides pricing flexibility as you are able to reduce your breakeven point for covering costs. A few strategies to consider include: 1. Reduce waste – sounds obvious but often requires significant focus. Focus demands priority. Dictating priority doesn’t last long; instead, it must be a priority backed with support when “the going gets rough”.  Reducing waste reduces raw material cost – if raw materials are a significant portion of your business cost, consider prioritizing. If they…
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