In the age of Coronavirus, manufacturers are facing pressure like never before. Learning to do more with less is the new normal as we navigate the dual pressures of labour shortages and supply chain disruption. Rising input costs are putting pressure on margins. With elastic demand for many Canadian-made products, today’s CFOs, CEOs and other manufacturing executives need every tool at their disposal to protect cash flow and compete in the new marketplace normal.
Enter Lean. By resolving capacity issues, manufacturers can create more products with fewer resources, re-deploying current employees to staff up properly and make more of the products that customers want, at the price they’re willing to pay, all while increasing margins and strengthening supply chains. Lean is a proven technique that engages employees from the front-line to the C-suite to create more products at a lower cost and win business from international competitors.
In this post, CME covers 9 simple steps manufacturers can take to increase profits and why each step is important.
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