In MakeUKs recent Investment Health Survey 2022, The biggest factor to make an investment, cited by 74% of the respondents, was whether the investment would improve productivity.
70% of the respondents also cited the key factor of Return on Investment (ROI).
If an investment does not improve output capacity, improve quality, or reduce cost then it becomes redundant to do anything. Except in the situation physical capital breaks down or requires replacing, which has already been identified as an investment motivator.
Investment of any sort, even in more stable economic conditions can be deemed risky. But without investment, there is also the risk of missing out on opportunity.
We couldn’t read these statistics and not point out that FourJaw's machine monitoring platform is designed to improve productivity and deliver a much quicker ROI to manufacturers than more traditional forms of machine monitoring.
FourJaw's machine monitoring platform, not only improves productivity, it does so by utilising a manufacturer's existing resources, so no large capital outlay is required to benefit from it.
Our IoT MachineLink hardware and cloud-based analytics platform does this by capturing data from their machines, analysing it and providing insight that identifies which machines are running at capacity and which are not, and more importantly, why not. It does this by capturing the machine downtime reasons, in real-time by prompting the machine operator to input a 'downtime reason' when the platform identifies the machine isn't running.
How Machine monitoring software is Improving productivity for manufacturers
Birmingham-based Armac Martin manufactures luxury brass cabinet fixtures and fittings for kitchens, bathrooms and bedrooms.
The company’s strong reputation, high-quality product range and commitment to quality had resulted in a recent period of high demand and strong growth – but demand was outstripping supply and beginning to choke the production line.
The higher sales were welcomed but the management recognised that due to increased lead times they were in danger of not being able to fulfil orders and potentially losing sales, there was the added risk of this having a negative impact on its reputation.
Learn how instant visibility into shop floor performance resulted in:
- Overall Equipment utilisation (Productivity) performance has increased by 14%
- Overall production capacity has increased by 65%
- Being able to identify which machines were being well-utilised and in high demand, and those which were under-utilised
- Clear visibility of the production schedule and machine capacities
- The confidence to sell one piece of under-used machinery and invest in a new machine that would meet the growing demands of their customers
Not only does machine monitoring software offer near-immediate gains in productivity, but our smart manufacturing analytics platform also does not require any large upfront CAPEX investment. Our commercial model is designed to be accessible to all manufacturers, large or small. We offer three pricing plans, all of which are available on monthly rolling contracts, or if you prefer, a 12-month annual plan which offers an attractive 25% discount if paid annually.
If you are one of 74% of decision-makers citing 'improved productivity' as a key factor to making an investment in your factory, book a call with one of our team so you can see how we can help you.