GEB 4935 Increasing Efficiency Discussion

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Running head: STEPS OF INCREASING COMPANY’S EFFICIENCY 1

Discussion 2 Lesson 6 GEB4935

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STEPS OF INCREASING COMPANY’S EFFICIENCY

Increasing Company’s Efficiency

The goal of every operating company is to make a profit. This can be achieved in many

different ways however increasing company efficiency is among the best strategies a company

can adopt. This can be achieved in many different ways as discussed.

A company should adopt a flexible manufacturing technology and mass customization

strategy. A good flexible manufacturing technology should have the ability to; improve quality

standards at all levels of production, reduce complexity and setup times of production, and

increase use of machines. A company should look for modified products meeting specific

customer’s needs. This can be achieved by adopting a manufacturing technology that can

reconcile two incompatible objectives that is product customization differentiation and low cost.

Company marketing strategies should be empowered. This basically refers to a

company’s position in product design, pricing, promotion, advertising, and distribution. Building

customer loyalty base in order to reduce customer defection rates is key for a company. Materials

and supply chain management is another key realm to focus on. An efficient company should be

able to adopt cost reduction techniques through efficient management of materials. It should

adopt a Just-in-Time inventory system which reduces material holding cost by having them

delivered just in time of need for the production process and retail when the stock is out.

Research and development (R&D) greatly help a company in achieving efficiency and

lowering cost by promoting innovations. It helps to achieve efficiency by boosting product

designs easy to manufacture through reducing assembling time by reducing the parts to be

assembled to come up with a product. This requires both production coordination and R&D.

human resource strategy is important to a company. Increasing employee productivity is

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Running head: STEPS OF INCREASING COMPANY’S EFFICIENCY Discussion 2 Lesson 6 GEB4935 Name University Date 1 STEPS OF INCREASING COMPANY’S EFFICIENCY 2 Increasing Company’s Efficiency The goal of every operating company is to make a profit. This can be achieved in many different ways however increasing company efficiency is among the best strategies a company can adopt. This can be achieved in many different ways as discussed. A company should adopt a flexible manufacturing technology and mass customization strategy. A good flexible manufacturing technology should have the ability to; improve quality standards at all levels of production, reduce complexity and setup times of production, and increase use of machines. A company should look for modified products meeting specific customer’s needs. This can be achieved by adopting a manufacturing technology that can reconcile two i ...
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