Production and manufacturing are often seen as the same thing. While they’re related, the two have distinct definitions. It’s important to understand the differences, especially if you’re involved in the manufacturing industry. Let’s explore production vs. manufacturing. Of course, it’s…
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Planning and scheduling production is just the starting point in manufacturing. Once the production line is in action, managers need to keep a close eye on what’s happening to ensure they’re meeting the production schedule and delivering goods on time…
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Manufacturers need to have a process by which to make or assemble their products. Before they go into production, therefore, they must engage in what’s called process planning. This is an important step before manufacturing and must be thoroughly understood….
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The best things in life are free, but manufacturing goods cost money. The cost of production of those products isn’t as straightforward as it might seem. The sum total investment that it takes for a business to create a good…
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Whether you’re a big or small business and no matter what product you manufacture or service you provide, you’re always looking to deliver the highest quality and greatest value for your customers. One way to achieve these goals is through…
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Every business needs resources such as labor, raw materials, equipment and other inputs. Your team uses resources to execute a variety of projects such as making products or providing services. These resources must be purchased by your organization, and the…
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A key goal in manufacturing is to get products to market faster while keeping costs down, which is why many manufacturing companies embrace just-in-time manufacturing (JIT). JIT helps manufacturers streamline production planning, reduce their production costs and improve their lead…
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Manufacturing requires the right balance of many factors. One of the most important is inventory management—the materials and components needed for the manufacturing process. The more efficiently a company handles its material requirements, the more profit it will find. And…
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Anyone who has delivered a product or service understands the triple constraint. Time, cost and scope have to be controlled to successfully complete a project. However, there’s a fourth constraint that’s less discussed: quality. Cost of quality (COQ) helps you…
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Manufacturing requires an understanding of production, its phases and when you need to assemble the product you’re building. Mapping this out with a production flow chart ensures a more seamless process. What is a production flow chart? We’ll get to…
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All businesses have assets, and if you want to stay in business, you need to know what those assets are. To start, you have to do an equipment inventory and make an equipment inventory list. That’s not as easy as…
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Companies have goals and the goods or services they produce must align with those goals. Everything has to work together, including resources and processes, to help achieve those goals as efficiently as possible to stay in business. Having an operational…
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Products have a lifespan just like everything else. After they’re born, they develop, mature and eventually die. That journey is called product lifecycle management. Like any aspect of creating a product, it involves many processes. Product lifecycle management is the…
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