3 Ways for Manufacturers to Turn Quality Problems into Profit
In today’s hyper-competitive and increasingly complex marketplace, manufacturers and their global supply chain partners need to find ways to function better, faster and more cost effectively. However, many of these manufacturers face quality challenges that can sideline profitable initiatives and create undue stress up the leadership ladder. But, what most manufacturers don’t realize is that those very quality challenges can be used to create profit, writes Michael Lyle in a piece for Manufacturing Business Technology.
The majority of manufacturing quality teams merely collects data to monitor production lines, ensure proper quality checks and “fix” out-of-specification processes. Once the data have served their purpose on the plant floor (their first life), they usually go on to die an early death, buried in a database. But, by resurrecting historical quality data, manufacturers can attain top-down, enterprise visibility — from supplier to buyer — and actionable, operational insight (the data’s second life) that unveils new opportunities to reduce costs and drive global business transformation.
Even though the tools exist to use second-life-of-data strategies to inspire company-wide global transformation, few organizations dedicate the resources necessary to see a real financial impact. Click through for examples of three ways to use quality data in their second life to strategically turn data into profits and quality into a competitive advantage.
Click here to read the entire piece in Manufacturing Business Technology.