Top Ways to Reduce Wastage in Your Manufacturing Plant

2. Indulge in regular maintenance

Time is of the essence in the manufacturing industry! But your employees can lose this precious asset due to defective machinery. Regular wear and tear of machines can lead to increased downtime, an effective means to reduce defects is timely maintenance and upkeep. Adopt preventive maintenance measures like a computerized maintenance management software (CMMS) to ensure optimum functionality of all tools and equipment. A CMMS tool could cost you Rs.6.5 lakh to 26 lakh, well-suited for small to mid-sized firms. While implementing a CMMS system could eat-up your savings, availing a Flexi Engineer Loan would enable you to fund your purchase by opting for interest-only EMIs and paying the principal at the end of the loan term. Get your loan pre-approved as you can access capital without applying for a loan.

3. Prevent inventory waste

In an ideal situation, businesses should focus on fulfilling existing customer needs and not clearing existing inventory. The best way to gauge the demand for your product is a research-backed sales forecast. Align the demand-supply pattern of your product by utilizing an inventory management software tracking real-time data related to movement of finished goods from warehouse to point-of-sale. An inventory management software can also assist you in tracking raw material movement thereby preventing stock-out as well as wastage due to unchecked procurement.

4. Adopt waste exchange

Waste materials generated from one process could serve as a source of raw materials for another. For example, crushed sugarcanes are a by-product of sugar mills, these sugarcanes can serve as a source of fuel for co-generation power plants. Waste exchange fulfils the dual purpose of reducing waste generation as well as reducing raw material costs for other engineering processes..

5. Seek the help of professional waste management service providers

If your company produces biomedical or potentially hazardous waste, you might require seeking the services of a professional waste management service provider. India, like most countries has specific waste treatment laws, and by availing expert services you could process these waste materials legally, as well as ethically.