Manufacturing productivity can have a huge impact on a business's overall operational performance, competitiveness and profitability.
It is a key performance indicator that is just as important a 'health barometer' to an individual business as it is to the UK manufacturing sector as a whole.
There are various strategies that manufacturers can employ to increase productivity. One approach is to invest in technology and automation, which can streamline processes and lead to a reduction in manual labour, fewer errors, and increased production speed.
In addition, efficient supply chain management, minimising waste, and adopting sustainable practices all contribute to overall productivity. Regular evaluation and optimisation of workflows, along with fostering a positive work environment, can also have a significant impact.
When manufacturers proactively use FourJaw’s technology, they can achieve productivity gains of anywhere between 10-20% which can increase output capacity by as much as 30%.
Across the entire UK manufacturing sector, that would be a productivity boost of £61bn.
For a manufacturer producing £4.5m worth of goods this year, that means the ability to get £1.3m more output in 2024 from their existing machines, people and production lines.
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