Here’s how waste impacts your bottom line
“By 2025, overall global consumption is forecast to reach $62 trillion, twice its 2013 level, and fully half of this increase will come from the emerging world” (McKinsey). To sustain competitiveness in the market, manufacturers must keep up with the development of global consumption.
That means dealing with an increasing amount of external pressures, such as:
- consumer demands for better product quality and shorter lead times
- retailer demands for lower cost
- dynamic procurement conditions with fluctuating raw material prices
- the growing desire for individualised products, leading to smaller batch sizes with more frequent changeovers
- rising minimum wage and pension contributions
- competition from low-wage economies
The companies that are in the best position to deal with such challenges – and to thrive under these conditions – are those that focus on internal improvement!
We have summarised how looking inwards and identifying opportunities for reducing the wastage of materials and time can drastically impact the competitiveness of your business:
Reach out to our experts to improve your bottom line!
We will arrange an initial discovery call to understand your current position and needs, and will work together with you to determine where wastage can be reduced in your processes – to drive up those net profit figures!
Share your thoughts to Info@harfordcontrol.com or give us a call on +44 (0) 1225 764461