Growing efficiency requires a benchmark of how much every single product costs to make: including product, storage, staff and freight costs.
Without this, there’s no way to accurately calculate the benefit from new processes, equipment or technology.
Production tracking is crucial to this process. Here’s Kit McAvoy, director at Seven Bro7hers Brewery in Manchester, on how they used batch tracking to see the cost of every keg, can and bottle they sell.
The value of insight for productivity and innovation
Numerous technological innovations have promised to help UK manufacturers grow productivity in the last ten years — but Britain’s problems have proved stubborn.
In the last instalment of our three-part series, we examine why.
Including whether data can close the productivity gap, profiling a company that is using insights well and a closer look at the four-factor method outlined in part two.