Innovations in technological manufacturing tools such as barcode integration, automated time tracking and inventory control systems may set an organization apart from its competitors. Helmuth Ludwig and Eric Spiegel wrote in Strategy+Business magazine that the rate of change in manufacturing is higher than it has been in history thanks to the quick adoption of new technology and software by large companies.
“The changes under way will increase productivity, efficiency and innovation, speed-to-market, and flexibility, which will in turn lead to a powerful new cycle of growth and value creation: an era of virtual-to-real manufacturing,” the authors wrote.
A recent e-book by Dynamic Manufacturing Solutions said manufacturing businesses need to be open to change and improvements in their processes. Utilizing up-to-date tools within the business’ system to gain new efficiencies can be done, but it will only come readily to organizations that prepare themselves for scalability over the long run. This means there should be creation of procedures and policies addressing technology adoption. This will be especially important for wide-scale systems, such as the ERP implementation inevitable for every manufacturer that has not upgraded in a while.
One huge benefit of new technology is the improved ability to measure actual costs versus what the company expected to spend. This is possible in real time and gives manufacturers an easy comparison of what they wanted to spend versus what they will be spending on a current path. This means a business can be more in control of its budget and improve or change what it is doing to be in better line with the budget.
Ludwig and Spiegel said it still remains to be seen whether the U.S. can fully take advantage of this technology revolution, but the tools to help improve enterprises are out there for the taking. Planning and research will be key to the future of business.
For more information on improving efficiency with barcode technology, download the free white paper entitled “Keeping the Physical World and the Virtual World in Sync” from DMS today.