5 Tips to Grow Your Manufacturing Business with Technology and Innovation

March 16, 2021
March 16, 2021 Mike Johnston

Manufacturing is one of those industries that the modern world relies on in every sector. Governments, residential areas, commercial properties, applications, and solutions, all require the skills and services of manufacturers to bring new, robust solutions to market. Because the need for manufacturing is always on the rise, and for numerous other reasons, the manufacturing industry is always on the rise around the world. Now, this creates a lucrative playing field, but that doesn’t mean that success is a guarantee if you don’t invest in digital transformation and other growth strategies.

As a growth-oriented manufacturer, you need to keep up with the latest trends and implement new processes and tech solutions to stay ahead of the competition. It’s important to optimize your conversion rate through tech and innovation in order to thrive in the digital world. To that end, let’s take a look at the most effective tips to grow your manufacturing business with technology and innovation.

Centralize your operation with MRP

Successful innovation and digital transformation in manufacturing begins with the first step towards centralizing your processes. If you’re still running your entire operation manually or if you’re using a mix of automation and manual data input, processing, and management, you’ll never be able to reach the level of efficiency of some of the leaders in your sector. Why? Because you’re not leveraging the right tech to cut costs, reduce the risk of error, and speed up your manufacturing and back-end processes.

This is where manufacturing-specific resource planning systems come into play. Innovators in the field have already created their own spin on ERP (enterprise resource planning) systems, and have created MRP (manufacturing resource planning) systems that cater to the specific operational needs of modern-day manufacturers. These systems boast everything from inventory management to sales and CRM, from order management to PoS systems, all the way to niche manufacturing processes. 

Focus on better marketing and advertising

Nowadays, to compete with the best of the best in your sector, you have to invest in digital marketing. There is no way around it, no matter how in-demand your services and products might be and no matter how well-known your brand is, your long-term success will greatly rely on your ability to dominate the online world. This is why PPC is so important nowadays for young entrepreneurs, and why investing in an amazing website and content marketing strategy can make all the difference. 

Whether you’re the new player on the field or if you’ve been around for years, digital marketing and advertising allows you to carve your way to the top of the industry. Your goal should be to build brand authority online through optimized, SEO-driven content, an optimized website, an engaging social media presence, and of course, digital ads that put your company at the top of the relevant search results. 

Energy efficiency should take precedence

As an experienced business leader, you know that success is not measured only by how much you earn, but by how much your company is able to save. In other words, one of your top priorities should be to leverage technology to achieve higher energy efficiency in order to cut costs while enhancing operational efficiency and productivity. The best way to do this, of course, is through better lighting technology.

Innovators in the industry like the awarded BUCK lighting brand have perfected their lighting systems and optimized them for industrial environments where energy efficiency and safety are top priorities. You can install better LED lighting solutions across your facility to reduce energy consumption, but enhance the lighting scheme to ensure compliance and worker safety at all times. In the long run, this solution will save you thousands of dollars and minimize legal liability for your manufacturing business. 

Boost efficiency and safety with IoT

Another important tech solution you should invest in is IoT. The internet of things has been on the rise in recent years and is nowadays revolutionizing the way we communicate with machines, and the way machines communicate with each other in commercial and residential settings. In manufacturing, IoT technology can help you improve efficiency and productivity, while at the same time keeping your workers out of harm’s way. After all, security is no longer just about online safety, especially in a manufacturing facility.

With IoT, your employees can control various systems across your facility wirelessly, and you can use various sensors and connected devices to manage your factory as a whole. Use sensors to ensure safety and monitor traffic, connected cameras to enhance security, and IoT devices to automatically control asset upkeep and maintenance. 

Invest in long-term sustainability

Last but not least, one of the best ways to reduce business costs over the long term is through sustainability. Initiating sustainability changes in your manufacturing business is a grand step and a big challenge, but nowadays it is necessary if your goal is to cut costs and your carbon footprint, ensure compliance with green laws and regulations, and keep your customers as well as the media happy. 

Internally, sustainable practices will allow you to build a thriving workforce and simplify your processes and create a digital work environment. And those are just the immediate benefits, as sustainable manufacturing is focused on long-term growth and a better business model for an eco-conscious world.

Wrapping up

Manufacturing is always on the rise, but you can only thrive in the modern world if you invest in new tech and innovative solutions. With these tips in mind, go ahead and build a better growth strategy for your manufacturing business in 2021 and beyond.

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Mike Johnston

Mike Johnston is an avid blogging enthusiast and experienced freelance writer. He’s a regular contributor to numerous online publications, where he writes about business, finance, technology, and management.