In this episode of our supply inefficiency series, we want to talk about the costs associated with errors.
In this episode, we will look at carrying costs.
In this video, we want to talk about hidden labor costs that could be costing you money.
Lowering cost is always at the top of every production department's list, but many manufacturers just shop for the lowest price and completely miss the bigger cost-saving opportunity.
The equipment you use to build your products plays an integral role in production, and if anything isn't delivering high-quality results it can drag down your entire operation. Thankfully, there's a formula that can help you measure overall equipment effectiveness (OEE) so you can more easily manage your factory floor.
When an OEM opts to set up a pull system with its supplier, it is a major step in the right direction toward lean manufacturing.