Manufacturing companies today are continually striving to improve their processes, keep their customers happy, and surpass their competition. When a manufacturer is successful in their chosen market against any type of competitor (regardless of size, country or resources), they are deemed “world-class”.
“World-class” is a broad term used to define many things. In this case, a “world-class” manufacturer must match or exceed their competition on product quality, lead times, cost/pricing, flexibility, customer service, and product innovation. A manufacturer who has reached “world-class” status is in control of the competition and chooses when and where they wish to compete, leaving their competitors struggling to match their level of success.
Achieving “world-class” manufacturing status is obviously the goal of every manufacturing company, but how do companies go about reaching “world-class” status? For starters, companies must focus their efforts on changing their processes and procedures. This, in turn, will transform relationships among purchasers, suppliers and customers. Automating your processes and reevaluating your current procedures is vital to manufacturers who wish to gain market share, operate at peak efficiency and exceed customer expectations to achieve “world-class” status.
While there are many actions your company can take in an effort to achieve “world-class” manufacturing status, there are 6 keys that will propel you to success. Keep in mind that the following actions can be taken in any order.
1. Focus on reducing lead times
2. Reduce your operation costs
3. Streamline your outsourcing processes
4. Exceed your customer expectations
5. Improve business performance visibility
6. Reduce time from concept to creation to market
While each of these objectives is important by itself, together they will help you achieve “world-class” status and rise above the competition. Stay tuned to our blog to learn more about reaching the highest level of manufacturing success.