In the small business landscape, manufacturing businesses have become commonplace. If you own a business in this industry, you have likely faced an array of unique challenges.
From learning how to use new equipment – for example, if your manufacturing is a 3D laser printer business – to issues related to outsourcing and buying from China, there are an array of problems plaguing this industry today. While this is true, there are several things you can do and steps you can take to safeguard your business and ensure its continued success in the coming months and years.
Remember, in all industries, including manufacturing, small businesses are an essential part of today’s economy. In fact, small businesses are responsible for generating 65% of all new jobs. They also make up the majority of businesses overall. Keep reading to learn what the top tips are to keep your business going strong.
1.Turn Your Focus to Supply Chain Management
Today’s manufacturing supply chains are more complicated than ever before, with multiple vendors and suppliers and shipping overseas now being commonplace. Now is the time to put your effort into making sure everything is “watertight.” Also, accept that emergencies may arise, which can lead to a complete supply chain breakdown.
It would help if you had policies in place to deal with these issues before they occur. This may be having alternative suppliers available, storing your products or stock off-site, or having plenty of safety stock available.
2. Reduce Lead Times by Managing Production
You can prioritize your small business manufacturing order queue. This ensures your staff logically works on orders. If a new supply order comes in, assign it to the first orders in your queue, which will minimize prolonged periods of WIP – work-in-progress – manufacturing. It also means products will ship faster.
3. Avoid Having Inventory Lying Around
You can have indirect materials, such as MRO, available at all times; however, if you keep a lot of bulky stock on-site, this will cost you money. Take time to reduce carrying costs; remember these provide no value to your business or product. Sometimes, you may be able to get smaller, more frequent orders at no additional costs for shipping.
4. Encourage Good Communication
Make sure your communication methods with your staff are transparent and honest. Be sure your employees feel comfortable to say what they think. By doing this, your staff will feel more respected, and you will be made aware of issues that you may not have been aware of without their ability to communicate freely.
5. Make an Investment in Your Staff
Set up opportunities for training and learning for a more flexible workforce in your small manufacturing business. You can work to fill in any skill gaps and improve the employee turnover rate. If you have one or more employees who can operate all your machines and handle all operations, you can reduce the overall lead times by changing up assigned tasks – even at a moment’s notice. To ensure superior efficiency of your workshop, be sure to keep this tip in mind.
6. Sure Your Website Is Visible
Do you have a quality, well-built, and functional website? Is there anyone visiting it? If your views are not as high as they should be, it may be because no one is finding your site. Take time to learn more about SEO – search engine optimization to help fix this issue. If necessary, hire SEO professionals for help.
7. Create Videos to Show Off Your Company
A picture is worth 1,000 words, right? It just makes sense that a video should be worth so much more. If you can create an explainer video that is professionally animated and features voice-overs, you will create something your current and potential customers will watch and enjoy. Videos are also well-known to help boost overall sales.
Are You Taking the Right Steps to Ensure Small Manufacturing Business Success?
As you can see, there are many steps you can take to ensure the success of your business. Take the time to keep the information here in mind and use the best practices and tips to feel confident that your business has the best chance of ongoing success, now and in the future.
