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Business continuity is vital for a company’s success, regardless of industry.
Unfortunately, most manufacturing companies struggle with production downtime due to equipment failure or workforce issues, hampering their ability to meet production targets, customer expectations, revenue goals, and more.
According to a recent study from the Manufacturing Institute, production downtime costs American manufacturers $50 billion in lost revenue and productivity each year. Manufacturing disruption is one of the most common causes of financial loss and can cost a company as much as $260,000 per hour.
Moreover, the cost of carrying excess inventory can be up to a whopping 60% of sales revenue for some manufacturers.
In addition to managing supply chain disruptions, labor shortages, equipment malfunctions, and worker safety, manufacturers must keep up with new industry trends and technology to stay competitive and contend with ever-changing regulations to ensure that processes and procedures meet compliance and standards requirements.
VRI helps manufacturers improve their company’s operational performance by introducing continuous improvement initiatives and efficiencies based on proven Lean Six Sigma tools and methodologies. In addition, we provide valuable process improvement services that help manufacturers comply with regulatory requirements, reduce risk exposure and inefficiencies, and boost overall performance and profitability.
VRI clients regularly enjoy an average of 6% to 10% reduction in total operating costs, a significant number given that most manufacturing companies operate on very thin margins, often a range as low as 1% to 3%.
The manufacturing sector is extremely competitive, and the cost of doing business is high. VRI consultants come with years of real-world experience in the manufacturing industry and know what’s at stake when advising clients on disruption-proofing their operations and deploying continuous improvement solutions.
Interested in learning more about integrating Lean Six Sigma into your manufacturing operation?
To get started today, contact us HERE now to schedule your free 20-minute consultation (a $500 value).