Manufacturing requires the right balance of many factors. One of the most important is inventory management—the materials and components needed for the manufacturing process. The more efficiently a company handles its material requirements, the more profit it will find. And…
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Anyone who has delivered a product or service understands the triple constraint. Time, cost and scope have to be controlled to successfully complete a project. However, there’s a fourth constraint that’s less discussed: quality. Cost of quality (COQ) helps you…
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Ideas are essential to product development, but they’re intangible. Turning an idea into a product requires many steps. One of the first is to create a product prototype. If you want to know what product prototyping is, you’ve come to…
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Manufacturing requires an understanding of production, its phases and when you need to assemble the product you’re building. Mapping this out with a production flow chart ensures a more seamless process. What is a production flow chart? We’ll get to…
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All businesses have assets, and if you want to stay in business, you need to know what those assets are. To start, you have to do an equipment inventory and make an equipment inventory list. That’s not as easy as…
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Companies have goals and the goods or services they produce must align with those goals. Everything has to work together, including resources and processes, to help achieve those goals as efficiently as possible to stay in business. Having an operational…
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Products have a lifespan just like everything else. After they’re born, they develop, mature and eventually die. That journey is called product lifecycle management. Like any aspect of creating a product, it involves many processes. Product lifecycle management is the…
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By the time a product shows up on the shelf, it’s been through a much longer journey called the manufacturing cycle. Each product is manufactured from raw materials that need to be procured before the product hits the market. The…
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When you buy something new, it’s already been around for a while. By that, we mean that the product started as an idea, was created using materials and labor and was transported to the retail location in which it can…
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Contract manufacturing lets businesses, which may not have the resources or the funds to invest in heavy machinery, collaborate with other companies to fill orders. Let’s take a closer look at the types of contract manufacturing and some examples of…
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Industrial processes are used in heavy manufacturing industries during large-scale projects. Having robust and efficient industrial processes is instrumental in a modern manufacturing business. Let’s explore a deeper definition of industrial processes and then break it down into different types….
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All of your resources need to be in top form to achieve the goals and objectives of your work. When it comes to equipment, there’s an approach to this called total productive maintenance (TPM). Total productive maintenance helps you achieve…
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If you’re a manufacturer, you need to know about supplier relationship management (SRM). Your business depends on getting products to a target audience. That can’t happen without a steady stream of raw materials and other necessary supplies. That’s why managing…
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