29 Apr '17, 2pm

Manufacturing

Manufacturing

Manufacturing operations strive to increase demand fulfillment and to reduce costs. But, too often these objectives seem mutually exclusive in practice. In fact, a 10-year study by Accenture of nearly 250 businesses across industries and sectors found that only 11% were meeting both goals. So what are the 11% doing differently? Interestingly, the study found that operational flexibility was the common thread binding these companies together. What’s more, they were able to achieve flexibility, reduce costs, and increase demand by adhering to three key principles of operations. 3 pillars of operational flexibility 1) Keep it simple. It can be difficult to keep up with the growing market demand for product customization while maintaining low overhead costs. But the answer is not fewer SKUs — in fact, quite the opposite. Successful manufacturers have increased product variants...

Full article: http://www.ebnonline.com/author.asp?section_id=2171&doc_i...

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