Press Release: QAD Redzone is Front Runner in LNS Research Connected Frontline Workforce Applications Solution Selection Matrix Read Now
December 14, 2023
A recent study by The Manufacturing Institute and Cognizant asked U.S. manufacturing leaders how to prioritize current investments to boost growth. In Study: How Firms Would Invest a Marginal Dollar with Their Company, an article published by Manufacturing.net, leaders said their top priorities were building a robust and trained workforce (73.7%), improving processes and operations (60.2%), optimizing equipment (53.4%), funding new equipment (51.7%), and investing in new technologies (46.6%).
From this list, it’s clear that manufacturers want to make the most of what they already have – empowering talent with the right skills, building better processes, and overall equipment effectiveness (OEE) — before laying out new cash for more equipment and technology.
Using Digital Technology to Increase Business Value
However, new technology can often unlock more value from current resources, creating a decision-making conundrum. For example, digital solutions that surface real-time production data empower manufacturing workers to identify anomalies and improve productivity, throughput, and overall equipment effectiveness (OEE).
Manufacturing decision-makers understand that balance. Survey respondents say new technology helps them achieve production cost efficiencies (78.79%), improve operational performance (73.74%), improve product and process quality (72.73%), maintain market competitiveness (50.51%), and develop new products and services (46.46%). So, by investing in new technology, companies can generate cost savings that fund future, growth-oriented investments.
Operational Efficiency Is a Growth Imperative Manufacturers Control
Optimizing operations is also a driver of growth that companies can control. While the number-one strategy for driving growth was a stronger domestic economy and sales of products, at 69.49%, manufacturers are being buffeted by high-interest rates, volatile customer demand, and the higher cost of capital, just like other industries. As a result, they can’t necessarily count on a continued growth trajectory in challenging economic conditions. On the other hand, increasing efficiencies in the production process, the second choice at 67.8%, is in-scope for any manufacturing company.
QAD Redzone works with companies that want to create more value from what they already possess. QAD Redzone is a next-generation platform that uses mobile, social collaboration technology; automated data capture; IIoT devices; coaching; and team motivational techniques to unlock the creativity and drive of the frontline workforce.
How QAD Redzone Solves Production Challenges
Manufacturers often come to us when they’re facing challenges with issues such as:
Manufacturers that deploy the QAD Redzone Connected Workforce Solution achieve an average OEE uplift of 14 points and a productivity boost of 29% in just 90 days. They also unlock between $728K and $1.4M in cost savings in the same timeframe. They achieve further gains as they deploy the Compliance, Reliability, and Learning modules.
With new technology, overcoming production challenges is easier, improving revenues and profitability.
1,000 Factories’ Productivity Data: The Largest Dataset of Its Kind ...
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