Cost Optimization through Production Planning
The path to continuous improvement for the manufacturing industry today is fraught with challenges. As businesses grow and strive for a greater global presence, variabilities and supply chain complexities rise. The impact of this is often experienced in terms of burgeoning costs. Variable market demand leads to greater juggling of capacity and firefighting approaches to fulfil orders – increase in overtime leads to added costs; over-utilization of machinery and energy leads to greater downtime, and material deficiencies are managed with last-minutes supplier orders. All of these contribute to a high manufacturing cost overhead. Yet, efficiency is critical to the health […]