Want to improve the efficiency and reputation of your manufacturing business? Here are a few mistakes that you should try to avoid at all costs.
Prioritising cost over quality
Cutting costs is important for any business – especially in manufacturing where outgoing costs can be high. However, the quality of your products is also important as this is what helps you to gain a name for yourself as a reputable manufacturer. Make sure that you’re not skimping on low-quality equipment or low-quality materials. If you need to cut costs, focus on areas that won’t affect quality such as increasing energy-efficiency and refinancing debts.
Failing to integrate software
All manufacturing businesses can benefit from software. The likes of Acumatica work order management can help you to organise your manufacturing process. Meanwhile, accounting software and supply chain software can be important for handling expenses. Many manufacturing companies are even starting to use software to service and maintain machinery – by using machinery with smart sensors, you can then use software to detect faults early, helping to prevent costly breakdowns. Without integrating such software, you could risk running a less efficient business than your competitors.
Not diversifying enough
A lot of manufacturing businesses also make the mistake of choosing niches that are far too specific. This can make finding customers a lot harder. Don’t be afraid to diversify a little. If you currently produce injection moulded combs, consider all the other products that you can produce using injection moulding including toys, bottle caps, chairs and even car parts. You could even consider buying new machinery such as a 3D printer or using different materials to expand the options as to what you can produce. Of course, you don’t want to make too huge a leap to the point that you forget your brand identity, however there’s not harm in branching out a little.
Using the wrong marketing strategies
It’s important to remember who your client base is. Manufacturing companies tend to be exclusively business-to-business. As a result, there’s often little benefit in focusing on marketing strategies that are traditionally business-to-consumer. For instance, while Facebook marketing can work well for other companies, it’s generally not very effective for manufacturing companies. Instead, focus on marketing strategies such as SEO, targeted emails and video marketing. There are marketing companies such as AMI manufacturing marketing that specialise in this area.
Not considering your environmental impact
The world is becoming more wary of climate change and as a result companies are having to think more environmentally. Failing to consider your environmental impact could have a negative impact on your reputation and your ability to attract customers, as well as costing you more in taxes, fines and energy bills. Consider investing in big improvements such as switching to renewable power sources, using recyclable materials and cutting down emissions.
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