Manufacturing Strategic Planning Trends for 2021
In the past 12 to 18 months, the manufacturing industry has experienced a pair of industry-rattling trends that are decidedly different.
As the pandemic subsides and advanced technologies remain available to manufacturing companies, now is an ideal time to return to strategic manufacturing planning exercises.
Fill out our form to download the eBook for a look at the different stages of manufacturing planning, as well as 7 trends that strategic plans should address in 2021!
Manufacturing Company: Results Management System™ and Software
Case Study #36: March 2021
Project Timeline: May 2020-February 2021
Situation: A fast-growing precision manufacturing company had very strong in-house capabilities with tight controls in compliance with industry standards and fast delivery times. On the other hand, after a sustained growth period, revenue had flattened and margins had declined, resulting in reduced profitability.
Pain: The Company was not using metrics to understand the cause of their high reworks costs and their negative impact on margins. In addition, revenue was heavily concentrated in a single customer and the company lacked a strategic plan to diversify their customer base.
Client Capabilities Needed
- Drill down from aggregate metrics into detailed metrics to drive root cause problem solving
- For example, they needed to more accurately track costs by product line and work center
- Implement “one source of the facts" despite concerns about inaccurate data
- Upgrade to a more sophisticated enterprise performance management system
- Enhance company-wide communication and accountability by leveraging real-time dashboards and visual performance management
- Align company priorities and measure progress on key initiatives